Tandem Diabetes Care Inc (TNDM)

Debt-to-assets ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	285,035	283,232	281,467	202,984	0
Total assets	US$ in thousands	952,658	1,052,780	905,137	716,415	326,110
Debt-to-assets ratio		0.30	0.27	0.31	0.28	0.00

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $285,035K ÷ $952,658K
= 0.30

The debt-to-assets ratio for Tandem Diabetes Care Inc has fluctuated over the past five years. In 2019, the company had a debt-to-assets ratio of 0.00, indicating that it had no debt relative to its total assets that year. However, in subsequent years, the ratio increased to 0.28 in 2020, 0.31 in 2021, and 0.27 in 2022 before reaching 0.30 in 2023.

The increasing trend from 2020 to 2021 suggests that the company took on more debt relative to its assets during those years. It's worth noting that the 2021 ratio of 0.31 was the highest among the five years analyzed. However, the slight decrease in the ratio in 2022 and then a small increase in 2023 indicate some fluctuation in the company's debt management practices.

Overall, Tandem Diabetes Care Inc's debt-to-assets ratio indicates that the company has been maintaining a conservative level of debt relative to its total assets, with the majority of its assets financed by equity rather than debt. However, the increasing trend in recent years should be monitored closely to ensure the company's financial stability and ability to meet its debt obligations in the long term.