ANI Pharmaceuticals Inc (ANIP)

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	284,819	285,032	285,244	285,457	285,669	285,882	286,095	286,307	286,520	186,063	189,525	168,985	172,443	175,161	177,879	188,094	175,808	64,873	65,688	66,501
Total assets	US$ in thousands	904,422	889,914	859,341	765,224	760,087	739,110	751,334	744,846	771,598	470,454	480,159	463,843	461,190	462,581	465,391	482,232	456,789	456,775	446,906	434,390
Debt-to-assets ratio		0.31	0.32	0.33	0.37	0.38	0.39	0.38	0.38	0.37	0.40	0.39	0.36	0.37	0.38	0.38	0.39	0.38	0.14	0.15	0.15

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $284,819K ÷ $904,422K
= 0.31

ANI Pharmaceuticals Inc's debt-to-assets ratio has been relatively stable over the past eight quarters, ranging from 0.32 to 0.39. This ratio indicates that between 32% to 39% of the company's total assets have been financed by debt during this period.

A decreasing trend in the debt-to-assets ratio from Q1 2023 to Q4 2022 may indicate that the company has been able to reduce its reliance on debt financing in relation to its total assets. However, the ratio increased in Q1 2023 compared to the previous quarter, which may suggest a recent increase in debt relative to assets.

Overall, the debt-to-assets ratio provides insight into the company's financial leverage and risk exposure. ANI Pharmaceuticals Inc's consistent range of debt-to-assets ratios indicates a relatively stable financial structure with a moderate level of debt financing compared to its total assets. However, it would be important to monitor any significant deviations from this range to assess potential changes in the company's capital structure and financial health.