Woodward Inc (WWD)
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 | 653,029 | 645,709 | 651,443 | 652,119 | 649,093 | 709,760 | 716,744 | 728,247 | 729,826 | 734,122 | 739,062 | 736,095 | 745,464 | 736,849 | 729,165 | 869,223 | 729,176 | 864,899 | 1,011,150 | 1,000,470 |
| Total assets | US$ in thousands | 4,130,800 | 4,010,200 | 4,009,560 | 4,011,530 | 3,894,810 | 3,806,450 | 3,755,790 | 3,890,540 | 4,035,240 | 4,091,000 | 4,088,660 | 4,020,770 | 3,959,500 | 3,903,340 | 3,906,670 | 4,060,280 | 4,007,170 | 3,956,530 | 4,015,600 | 3,965,950 |
| Debt-to-assets ratio | 0.16 | 0.16 | 0.16 | 0.16 | 0.17 | 0.19 | 0.19 | 0.19 | 0.18 | 0.18 | 0.18 | 0.18 | 0.19 | 0.19 | 0.19 | 0.21 | 0.18 | 0.22 | 0.25 | 0.25 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $653,029K ÷ $4,130,800K
= 0.16
The debt-to-assets ratio for Woodward Inc has been relatively stable over the past eight quarters, ranging from 0.17 to 0.21. This ratio indicates that, on average, between 17% and 21% of the company's assets are financed through debt.
A decreasing trend in the debt-to-assets ratio could indicate that the company is reducing its reliance on debt to finance its operations and investments, which may be viewed positively as it signifies a lower risk of insolvency. Conversely, an increasing trend could signal that the company is taking on more debt to fuel growth or operations.
Overall, with the debt-to-assets ratio remaining within a narrow range over the past two years, Woodward Inc appears to have a balanced approach to managing its debt levels in relation to its asset base.