ADMA Biologics Inc (ADMA)

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	130,594	142,833	94,866	92,969	68,291
Total stockholders’ equity	US$ in thousands	135,206	151,974	141,173	88,249	26,193
Debt-to-equity ratio		0.97	0.94	0.67	1.05	2.61

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $130,594K ÷ $135,206K
= 0.97

The debt-to-equity ratio of ADMA Biologics Inc has shown fluctuations over the past five years. As of December 31, 2023, the company's debt-to-equity ratio stands at 0.97, indicating that for every dollar of equity, the company has $0.97 of debt.

Comparing this to previous years, we observe that the ratio was 0.94 in 2022, 0.67 in 2021, 1.05 in 2020, and significantly higher at 2.61 in 2019. This trend suggests that ADMA Biologics Inc has been actively managing its debt levels.

A decreasing trend from 2019 to 2021 indicates a reduction in debt relative to equity, reflecting a stronger financial position and lower financial risk. However, the slight increase in 2023 compared to 2022 suggests a potential increase in debt or a decrease in equity. Further analysis of the company's financial statements and overall financial health is recommended to understand the reasons behind these fluctuations in the debt-to-equity ratio.