Biomarin Pharmaceutical Inc (BMRN)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 593,095 | 1,083,020 | 1,079,080 | 1,075,140 | 486,238 |
| Total assets | US$ in thousands | 6,841,600 | 6,375,070 | 6,004,770 | 5,848,020 | 4,690,040 |
| Debt-to-assets ratio | 0.09 | 0.17 | 0.18 | 0.18 | 0.10 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $593,095K ÷ $6,841,600K
= 0.09
The debt-to-assets ratio of Biomarin Pharmaceutical Inc has exhibited fluctuations over the past five years. In 2023, the ratio decreased to 0.09 from 0.17 in 2022, indicating that the company's level of debt relative to its total assets decreased significantly. This may suggest improved financial stability and a lower risk of financial distress. The ratio in 2023 is also notably lower than the ratios in 2021 and 2020, which were both at 0.18.
Comparing the 2023 ratio to that of 2019, when it stood at 0.10, the decrease in the debt-to-assets ratio is substantial, indicating a significant improvement in the company's leverage position. Overall, the declining trend in the debt-to-assets ratio suggests that Biomarin Pharmaceutical Inc has been effectively managing its debt levels in relation to its asset base, which can be seen as a positive financial indicator for the company.
Peer comparison
Dec 31, 2023