Tootsie Roll Industries Inc (TR)
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 | 7,500 | 7,500 | 7,500 | 7,500 | 7,500 |
| Total assets | US$ in thousands | 1,084,390 | 1,018,780 | 1,018,620 | 984,558 | 977,864 |
| Debt-to-assets ratio | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $7,500K ÷ $1,084,390K
= 0.01
The debt-to-assets ratio of Tootsie Roll Industries, Inc. has been consistently low at 0.01 over the past five years from 2019 to 2023. This indicates that the company has a minimal level of debt relative to its total assets during these periods. A low debt-to-assets ratio suggests that the company relies more on equity financing rather than debt financing to fund its operations and investments. Tootsie Roll Industries' stable and low debt-to-assets ratio signifies a conservative financial strategy with a low level of financial risk associated with debt obligations.
Peer comparison
Dec 31, 2023
Company name
Symbol
Debt-to-assets ratio
Tootsie Roll Industries Inc
TR
0.01
Hershey Co
HSY
0.32
John B Sanfilippo & Son Inc
JBSS
0.01