Amphastar P (AMPH)

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	603,174	76,642	78,185	45,923	46,324
Total assets	US$ in thousands	1,512,910	741,987	671,529	631,236	586,971
Debt-to-assets ratio		0.40	0.10	0.12	0.07	0.08

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $603,174K ÷ $1,512,910K
= 0.40

The debt-to-assets ratio of Amphastar Pharmaceuticals Inc has exhibited notable variability over the past five years. In 2023, the ratio stands at 0.39, indicating that 39% of the company's total assets are financed through debt. This represents a significant increase from the previous year, where the ratio was substantially lower at 0.10. Compared to 2021 and 2020, where the ratios were 0.11 and 0.07 respectively, the current ratio suggests a higher reliance on debt financing.

In 2019, the debt-to-assets ratio was slightly lower at 0.08 compared to the most recent year, 2023. Overall, the trend in the debt-to-assets ratio demonstrates fluctuations in the company's leverage over the years, potentially reflecting varying strategies in capital structure and financing decisions. Further analysis of the company's financial health and risk profile should be considered in conjunction with other financial metrics to gain a comprehensive understanding of its overall financial position.