TTM Technologies Inc (TTMI)

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	914,336	864,824	864,413	879,993	879,407	929,004	928,605	928,210	927,818	926,922	926,523	926,128	842,853	840,023	832,834	1,229,370	1,225,960	1,472,580	1,469,270	1,466,010
Total assets	US$ in thousands	3,323,660	3,266,500	3,148,490	3,176,040	3,323,600	3,292,890	3,214,650	3,044,150	3,025,550	3,047,630	3,025,740	2,965,830	2,895,940	3,148,410	3,594,670	3,524,120	3,560,930	3,498,360	3,440,110	3,414,280
Debt-to-assets ratio		0.28	0.26	0.27	0.28	0.26	0.28	0.29	0.30	0.31	0.30	0.31	0.31	0.29	0.27	0.23	0.35	0.34	0.42	0.43	0.43

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $914,336K ÷ $3,323,660K
= 0.28

The debt-to-assets ratio for TTM Technologies Inc has shown some fluctuations over the past two years. The ratio has ranged between 0.23 to 0.43 during this period. A lower debt-to-assets ratio indicates that the company has less reliance on debt financing in relation to its total assets.

From the data provided, we can observe that the ratio decreased from 0.35 in March 2020 to 0.23 in June 2020, indicating a significant reduction in debt relative to total assets. However, the ratio started to increase gradually from September 2020 onwards, reaching 0.43 by the end of 2019. This upward trend suggests that the company may have taken on more debt compared to its assets in recent periods.

Overall, while the company's debt-to-assets ratio has fluctuated, it is important to further analyze the reasons behind these changes to assess the company's financial risk and stability. A higher debt-to-assets ratio may indicate higher financial leverage and potentially higher risk, while a lower ratio may suggest a more conservative financial strategy.