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.