Tetra Tech Inc (TTEK)
Debt-to-assets ratio
| Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | 879,529 | 246,250 | 200,000 | 242,395 |
| Total assets | US$ in thousands | 4,192,680 | 3,820,480 | 2,622,780 | 2,576,560 | 2,378,560 |
| Debt-to-assets ratio | 0.00 | 0.23 | 0.09 | 0.08 | 0.10 |
September 30, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $4,192,680K
= 0.00
Tetra Tech Inc's debt-to-assets ratio has shown a declining trend over the past five years, indicating a decreasing reliance on debt financing to fund its assets. As of September 30, 2024, the company's debt-to-assets ratio stands at 0.00, suggesting that it has no debt relative to its total assets. This could signify a strong financial position and efficient management of capital structure.
Comparing to previous years, the ratio was 0.23 in 2023, 0.09 in 2022, 0.08 in 2021, and 0.10 in 2020. The substantial decrease from 0.23 in 2023 to 0.00 in 2024 points towards a significant reduction in debt levels relative to assets. It's worth noting that having a lower debt-to-assets ratio suggests lower financial risk and potential for better financial stability. Overall, the declining trend in Tetra Tech Inc's debt-to-assets ratio indicates a prudent approach to managing its capital structure and financial health over the years.
Peer comparison
Sep 30, 2024