Ultra Clean Holdings Inc (UCTT)
Debt-to-equity ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 461,200 | 493,000 | 529,900 | 261,600 | 283,400 |
| Total stockholders’ equity | US$ in thousands | 838,900 | 887,900 | 848,900 | 532,600 | 436,700 |
| Debt-to-equity ratio | 0.55 | 0.56 | 0.62 | 0.49 | 0.65 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $461,200K ÷ $838,900K
= 0.55
The debt-to-equity ratio for Ultra Clean Holdings Inc has shown some fluctuation over the past five years. The ratio decreased from 0.65 in 2019 to 0.49 in 2020, indicating a reduction in debt relative to equity. However, in the subsequent years, the ratio increased to 0.62 in 2021 and then decreased again to 0.55 in 2023.
Overall, the company has maintained a relatively moderate level of debt compared to equity throughout the period, with the ratio hovering around 0.5 to 0.6. This suggests that Ultra Clean Holdings Inc has been utilizing a mix of debt and equity financing strategies to fund its operations and growth initiatives. The trend of the ratio indicates that the company has been managing its debt levels effectively, although it would be important to monitor any significant changes in the ratio in the future to assess the company's financial health and risk profile.
Peer comparison
Dec 31, 2023