Viad Corp (VVI)

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	349,800	301,800	328,900	254,000	304,000
Total assets	US$ in thousands	1,137,320	1,090,350	1,037,630	853,224	1,318,690
Debt-to-assets ratio		0.31	0.28	0.32	0.30	0.23

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $349,800K ÷ $1,137,320K
= 0.31

Viad Corp.'s debt-to-assets ratio has fluctuated over the past five years, ranging from 0.26 to 0.44. A decreasing trend in the ratio from 2019 to 2020, where it dropped from 0.26 to 0.34, suggests a relatively lower reliance on debt financing compared to its total assets during that period. However, the ratio increased in the subsequent years, reaching 0.43 in 2022 and further rising to 0.44 in 2023. This upward trend may indicate an increasing proportion of debt used to finance Viad Corp.'s assets in recent years, potentially leading to higher financial leverage and associated risks. It is important for stakeholders to closely monitor the trend in the debt-to-assets ratio to assess Viad Corp.'s overall financial health and risk management strategies.