ANI Pharmaceuticals Inc (ANIP)

Debt-to-equity 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-equity ratio		0.66	0.66	0.70	0.91	0.91	0.92	0.92	0.89	0.86	0.97	0.99	0.83	0.88	0.90	0.93	0.93	0.83	0.30	0.32	0.33

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 exhibited fluctuations over the past eight quarters. In Q4 2023, the ratio stood at 0.66, indicating that the company had $0.66 in debt for every $1 of equity. This represented a slight increase from the previous quarter's ratio of 0.63.

Comparing the Q4 2023 ratio to earlier quarters, it appears that ANI Pharmaceuticals Inc has maintained a relatively stable debt-to-equity ratio, with fluctuations ranging from 0.63 to 0.85 over the past two years. While the ratio in Q1 2023 spiked to 0.84, it subsequently decreased in the following quarters.

Overall, the trend in the debt-to-equity ratio suggests that ANI Pharmaceuticals Inc has been managing its debt levels relative to equity in a reasonably consistent manner, with some variations observed but without significant deviations from the average range of 0.63 to 0.85. This indicates a balanced approach to financing operations through a mix of debt and equity.