Amphastar P (AMPH)

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	603,174	653,268	—	—	76,642	—	—	—	78,185	—	—	—	45,923	—	—	—	46,324	—	—	—
Total assets	US$ in thousands	1,512,910	1,544,630	1,378,270	773,656	741,987	726,695	723,719	716,238	671,529	651,677	665,745	645,738	631,236	613,718	600,058	572,831	586,971	585,636	601,301	544,718
Debt-to-assets ratio		0.40	0.42	0.00	0.00	0.10	0.00	0.00	0.00	0.12	0.00	0.00	0.00	0.07	0.00	0.00	0.00	0.08	0.00	0.00	0.00

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 shown some fluctuation over the past eight quarters. In Q4 2023, the ratio stands at 0.39, indicating that 39% of the company's assets are financed through debt. This represents a slight decrease from the previous quarter where the ratio was 0.41.

Looking further back, in Q1 2023, the ratio was significantly lower at 0.10, suggesting that only 10% of the assets were funded by debt. This was also the case in the preceding quarters of Q4 2022, Q3 2022, Q2 2022, and Q1 2022, where the ratio remained at 0.10, showing consistency in the company's debt management during that period.

The substantial increase in the debt-to-assets ratio from Q1 2023 to Q2 2023, where the ratio jumped to 0.36, could indicate a strategic decision by the company to take on more debt financing, possibly for expansion or other investment activities. However, the subsequent decrease in Q3 2023 and Q4 2023 suggests some variability in the company's debt management strategy.

Overall, Amphastar Pharmaceuticals Inc's debt-to-assets ratio has fluctuated over the past eight quarters, with a general trend of maintaining a relatively low ratio, indicating a conservative approach to debt financing.