Amphastar P (AMPH)

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	603,174	76,642	78,185	45,923	46,324
Total stockholders’ equity	US$ in thousands	639,421	528,658	445,522	402,306	381,366
Debt-to-equity ratio		0.94	0.14	0.18	0.11	0.12

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $603,174K ÷ $639,421K
= 0.94

The debt-to-equity ratio of Amphastar Pharmaceuticals Inc has shown a significant increase from 0.12 in 2019 to 0.92 in 2023. This indicates that the company's reliance on debt to finance its operations and growth has grown substantially over the past five years. The ratio surpasses 1, suggesting that the company has more debt than equity, which could potentially raise concerns about its financial leverage and ability to meet debt obligations in the long term. It is important for stakeholders to monitor this trend closely to assess the company's financial health and risk level associated with its debt levels.