Titan International Inc (TWI)

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	—	—	—	—	0	—	23,000	63,000	30,000	30,000	29,000	9,000	0	0	28,000	30,000	36,000	59,000	41,000	25,000
Total assets	US$ in thousands	1,289,240	1,257,740	1,305,150	1,344,810	1,284,630	1,247,480	1,289,180	1,269,300	1,182,680	1,144,260	1,127,440	1,071,450	1,031,880	1,016,350	1,031,290	1,060,250	1,114,310	1,189,600	1,269,530	1,325,260
Debt-to-assets ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.02	0.05	0.03	0.03	0.03	0.01	0.00	0.00	0.03	0.03	0.03	0.05	0.03	0.02

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 relatively stable over the past eight quarters, ranging from 0.33 to 0.41. This ratio indicates the proportion of the company's assets that are financed with debt. A lower ratio suggests lower financial risk as it indicates a smaller portion of assets is financed by debt.

In the case of Titan International, the ratios hovering around 0.33 to 0.35 signify that roughly one-third of the company's assets are financed by debt. The slight increase in the ratio from Q4 2022 to Q1 2022, where it peaked at 0.41, may indicate a potential increase in financial leverage or a decline in asset base.

Overall, the company's debt-to-assets ratio appears to be within a reasonable range, suggesting a moderate level of debt in relation to its asset base. However, it would be beneficial to monitor any trends in the ratio over time to assess the company's evolving financial health and risk profile.