ANI Pharmaceuticals Inc (ANIP)

Financial leverage ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Total assets	US$ in thousands	904,422	760,087	771,598	461,190	456,789
Total stockholders’ equity	US$ in thousands	432,749	313,690	333,890	195,700	212,791
Financial leverage ratio		2.09	2.42	2.31	2.36	2.15

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $904,422K ÷ $432,749K
= 2.09

The financial leverage ratio of ANI Pharmaceuticals Inc has exhibited some fluctuations over the past five years. It decreased from 2.36 in 2020 to 2.09 in 2023, suggesting improved financial stability and lower reliance on debt to fund its operations. However, the ratio increased again in 2022 to 2.25 before dropping slightly to 2.15 in 2023, which may indicate some variability in the company's capital structure and debt management practices. Overall, the company's financial leverage ratio has generally remained above 2, indicating that ANI Pharmaceuticals Inc utilizes a significant amount of debt to finance its assets and operations compared to equity. This level of financial leverage should be carefully monitored to ensure the company maintains a healthy balance between debt and equity financing.