Xpel Inc (XPEL)

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
Long-term debt	US$ in thousands	19,317	0	13,000	28,000	26,000	26,000	32,000	33,000	25,076	155	239	2,917	3,568	4,193	4,819	6,853	307	399	502
Total assets	US$ in thousands	252,041	226,776	216,661	207,667	193,362	188,258	189,056	188,261	161,015	124,403	105,373	95,339	83,840	76,197	68,173	61,691	51,601	47,406	43,349
Debt-to-assets ratio		0.08	0.00	0.06	0.13	0.13	0.14	0.17	0.18	0.16	0.00	0.00	0.03	0.04	0.06	0.07	0.11	0.01	0.01	0.01

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $19,317K ÷ $252,041K
= 0.08

The debt-to-assets ratio of XPEL Inc has been fluctuating over the past eight quarters. In Q2 2022, the ratio was at its highest at 0.17, indicating that 17% of the company's assets were financed by debt. This was followed by a slight increase in Q3 2022 to 0.14, before peaking again in Q4 2022 at 0.13.

However, the trend reversed in the following quarters of 2023. The ratio dropped significantly to 0.00 in Q3 2023, indicating that the company had no debt relative to its assets. This was followed by a slight increase to 0.06 in Q2 2023, before rising to 0.08 in Q4 2023.

Overall, the debt-to-assets ratio of XPEL Inc shows fluctuations over the analyzed period, with a general trend of decreasing debt relative to assets in 2023 compared to 2022. This may suggest that the company is managing its debt levels more efficiently or utilizing alternative financing methods. However, it is important to continue monitoring this ratio to assess the company's financial health and risk exposure.