Ultra Clean Holdings Inc (UCTT)

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	461,200	464,100	467,100	470,000	493,000	509,200	—	—	529,900	545,100	573,100	259,800	261,600	272,600	322,100	323,900	283,400	304,172	330,895	329,810
Total assets	US$ in thousands	1,867,700	1,845,500	1,843,700	1,865,900	1,960,900	1,956,000	1,945,400	2,011,600	2,025,400	1,924,000	1,846,700	1,190,600	1,102,500	1,060,300	1,102,500	1,072,200	1,019,300	1,019,300	1,008,960	1,019,300
Debt-to-assets ratio		0.25	0.25	0.25	0.25	0.25	0.26	0.00	0.00	0.26	0.28	0.31	0.22	0.24	0.26	0.29	0.30	0.28	0.30	0.33	0.32

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $461,200K ÷ $1,867,700K
= 0.25

The debt-to-assets ratio of Ultra Clean Holdings Inc has remained relatively stable at around 0.25 for the most recent quarters, indicating that the company has maintained a moderate level of debt in relation to its total assets. However, there was a notable increase in the ratio in the third quarter of 2022, where it rose to 0.26 before dropping back to 0.25 in subsequent periods.

It is important to note that there were instances where the debt-to-assets ratio was significantly higher, such as in the second and third quarters of 2021 when the ratio reached 0.31 and 0.22, respectively. This suggests that during those periods, the company may have taken on more debt relative to its asset base.

Overall, the trend in Ultra Clean Holdings Inc's debt-to-assets ratio indicates that the company has generally maintained a conservative approach to managing its debt levels in recent quarters, with fluctuations observed in certain periods. Continued monitoring of this ratio will be essential to assess the company's financial leverage and risk profile.