ANI Pharmaceuticals Inc (ANIP)

Debt-to-capital 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 stockholders’ equity	US$ in thousands	432,749	429,861	409,622	314,632	313,690	311,825	312,108	321,244	333,890	191,403	191,917	203,712	195,700	195,100	191,344	201,171	212,791	213,130	207,656	199,712
Debt-to-capital ratio		0.40	0.40	0.41	0.48	0.48	0.48	0.48	0.47	0.46	0.49	0.50	0.45	0.47	0.47	0.48	0.48	0.45	0.23	0.24	0.25

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 for ANI Pharmaceuticals Inc has shown fluctuation over the past eight quarters. In Q4 2023 and Q2 2023, the ratio stood at 0.40, indicating that 40% of the company's capital was financed by debt. This ratio decreased slightly from Q3 2023, where it was 0.39. However, it had been higher in Q1 2023 at 0.46.

Comparing these figures to the previous year, we observe that the company's debt-to-capital ratio has remained relatively stable since Q4 2022, where it stood at 0.46. This suggests that ANI Pharmaceuticals Inc has maintained a consistent level of debt relative to its capital structure over recent quarters.

Overall, the debt-to-capital ratio indicates that ANI Pharmaceuticals Inc relies moderately on debt to finance its operations and investments, with fluctuations seen in recent quarters. Investors and analysts may monitor this ratio to assess the company's leverage and financial risk over time.