ANI Pharmaceuticals Inc (ANIP)

Financial leverage 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
Total assets	US$ in thousands	904,422	889,914	859,341	765,224	760,087	739,110	751,334	744,846	771,598	470,454	480,159	463,843	461,190	462,581	465,391	482,232	456,789	456,775	446,906	434,390
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
Financial leverage ratio		2.09	2.07	2.10	2.43	2.42	2.37	2.41	2.32	2.31	2.46	2.50	2.28	2.36	2.37	2.43	2.40	2.15	2.14	2.15	2.18

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 shown some fluctuations over the past 8 quarters. The ratio has ranged from a low of 1.96 in Q3 2023 to a high of 2.25 in both Q1 and Q4 of 2023. This indicates that the company relies more on debt financing rather than equity to fund its operations and investment activities.

A financial leverage ratio of above 1 suggests that the company has more debt than equity in its capital structure. ANI Pharmaceuticals Inc has maintained a consistently higher financial leverage ratio throughout the period, indicating a relatively aggressive capital structure.

It is important to monitor the trend of the financial leverage ratio over time as significant changes can impact the company's financial stability and risk profile. A higher leverage ratio can magnify returns to shareholders when the company is performing well, but it also increases the risk of financial distress during economic downturns. Investors and stakeholders should closely monitor ANI Pharmaceuticals Inc's leverage ratio and its impact on the company's overall financial health.