Titan International Inc (TWI)
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 | — | 0 | 30,000 | 0 | 36,000 |
| Total assets | US$ in thousands | 1,289,240 | 1,284,630 | 1,182,680 | 1,031,880 | 1,114,310 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.03 | 0.00 | 0.03 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $1,289,240K
= 0.00
The debt-to-assets ratio of Titan International, Inc. has been showing a decreasing trend over the past five years, declining from 0.45 in 2019 to 0.33 in 2023. This implies that the company has been relying less on debt to finance its assets, which could signal a stronger financial position and lower risk of financial distress. A lower debt-to-assets ratio indicates that a greater proportion of the company's assets are funded by equity rather than debt. It suggests that the company may be more stable and less leveraged, as it has less debt relative to its total assets, making it potentially less risky for creditors and investors. This trend may be viewed positively by stakeholders as it signifies a healthier balance between debt and equity in the company's capital structure.
Peer comparison
Dec 31, 2023