Tetra Tech Inc (TTEK)
Debt-to-assets ratio
| 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 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 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 | — | — | — | 263,934 | — | — |
| Total assets | US$ in thousands | 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 | 2,147,410 | 2,096,420 | 1,951,860 |
| Debt-to-assets ratio | 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 | 0.12 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $945,319K ÷ $3,950,820K
= 0.24
The debt-to-assets ratio of Tetra Tech, Inc. has shown some fluctuations over the past eight quarters. In Q1 2024, the ratio stood at 0.24, slightly higher compared to the previous quarter which was at 0.23. This suggests that the company's debt level in relation to its total assets increased slightly in Q1 2024.
Looking further back, in Q2 2023, the ratio spiked to 0.27, indicating a temporary increase in debt relative to assets. However, the ratio decreased significantly in Q1 2023 to 0.09, showing a substantial reduction in debt compared to the previous quarter.
Overall, the trend in the debt-to-assets ratio of Tetra Tech, Inc. seems to have fluctuated within a relatively narrow range over the past eight quarters, indicating a moderate level of debt in relation to the company's total assets. It is essential for stakeholders to continue monitoring this ratio to assess the company's financial leverage and ability to meet its debt obligations.
Peer comparison
Dec 31, 2023