ANI Pharmaceuticals Inc (ANIP)

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	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-equity ratio		0.66	0.91	0.86	0.88	0.83

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $284,819K ÷ $432,749K
= 0.66

The debt-to-equity ratio of ANI Pharmaceuticals Inc has shown fluctuations over the past five years. In 2023, the ratio decreased to 0.66 from 0.85 in 2022, indicating a lower level of debt relative to equity compared to the prior year. This suggests that the company relied less on debt financing and may have strengthened its equity position in the most recent year.

Looking back further, in 2021 the ratio stood at 0.80, which was lower compared to 2020 when it was 0.95. This indicates that the company had a higher level of debt relative to equity in 2020. Similarly, in 2019, the ratio was 0.87, slightly higher than in 2021.

Overall, the trend in the debt-to-equity ratio of ANI Pharmaceuticals Inc shows variability but with a general downward trend in recent years, which may imply improving financial stability and reduced financial risk associated with higher debt levels. It is important to assess this ratio in conjunction with other financial metrics to gain a comprehensive understanding of the company's capital structure and financial health.