ANI Pharmaceuticals Inc (ANIP)

Debt-to-capital ratio

Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Long-term debt US$ in thousands 284,819 285,669 286,520 172,443 175,808
Total stockholders’ equity US$ in thousands 432,749 313,690 333,890 195,700 212,791
Debt-to-capital ratio 0.40 0.48 0.46 0.47 0.45

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $284,819K ÷ ($284,819K + $432,749K)
= 0.40

The debt-to-capital ratio of ANI Pharmaceuticals Inc has exhibited a fluctuating trend over the past five years. The ratio decreased from 0.47 in 2019 to 0.40 in 2023. This indicates that the company's reliance on debt as a source of capital relative to total capital has reduced over the period.

Although the ratio increased in 2022 to 0.46 and then decreased again in 2023, it remained below the levels seen in 2020 and 2021, suggesting a positive trend towards a more favorable debt structure. A lower debt-to-capital ratio generally indicates a healthier financial position, as it implies that the company has a smaller proportion of debt in its capital structure and is less leveraged.

Overall, the decreasing trend in the debt-to-capital ratio of ANI Pharmaceuticals Inc from 2019 to 2023 is a positive indication of the company's efforts to manage its debt levels and improve its overall financial stability.