Tetra Tech Inc (TTEK)
Debt-to-assets ratio
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | 861,830 | 951,031 | 945,319 | 879,529 | 906,875 | 1,065,000 | 234,120 | 246,250 | 234,375 | 237,500 | 246,875 | 200,000 | 234,020 | 238,339 | 275,983 | 242,395 | — | — | — |
| Total assets | US$ in thousands | 4,192,680 | 4,084,900 | 4,070,570 | 3,950,820 | 3,820,480 | 3,973,580 | 3,985,040 | 2,731,480 | 2,622,780 | 2,677,710 | 2,645,620 | 2,640,460 | 2,576,560 | 2,510,920 | 2,455,060 | 2,414,870 | 2,378,560 | 2,289,310 | 2,343,150 | 2,352,550 |
| Debt-to-assets ratio | 0.00 | 0.21 | 0.23 | 0.24 | 0.23 | 0.23 | 0.27 | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 0.08 | 0.09 | 0.10 | 0.11 | 0.10 | 0.00 | 0.00 | 0.00 |
September 30, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $4,192,680K
= 0.00
Based on the provided data, Tetra Tech Inc's debt-to-assets ratio has shown fluctuations over the past years. The ratio was consistently low at 0.00 in the most recent periods, indicating that the company had either no debt or a minimal amount of debt relative to its total assets.
However, there was a significant increase in the ratio during the first half of 2024, reaching 0.23 in March and then slightly increasing to 0.24 by the end of December. This could suggest that the company took on more debt during this period, which led to a higher proportion of debt relative to its total assets.
Before this increase, the debt-to-assets ratio had been relatively stable around 0.09 to 0.11 from December 2021 to March 2024. It is worth noting that the ratio was much lower in the earlier periods of 2020 and 2019, at 0.00, indicating a very low level of debt compared to assets during that time.
Overall, the recent increase in the debt-to-assets ratio may raise concerns about the company's leverage and ability to meet its debt obligations. Further analysis of the reasons behind the increase in debt and its impact on the company's financial health would be necessary to fully assess the implications of the changing ratio.
Peer comparison
Sep 30, 2024