Biomarin Pharmaceutical Inc (BMRN)

Debt-to-capital ratio

		Mar 31, 2024	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
Long-term debt	US$ in thousands	593,605	593,095	592,586	1,084,990	1,084,010	1,083,020	1,082,030	1,081,050	1,080,060	1,079,080	1,078,090	1,077,110	1,076,130	1,075,140	1,074,160	1,073,200	486,713	486,238	843,616	839,165
Total stockholders’ equity	US$ in thousands	5,073,820	4,951,550	4,896,900	4,782,830	4,659,040	4,603,160	4,568,510	4,499,740	4,386,240	4,265,670	4,261,080	4,236,500	4,162,010	4,100,930	4,053,890	3,236,680	3,239,960	3,122,380	3,074,400	2,960,950
Debt-to-capital ratio		0.10	0.11	0.11	0.18	0.19	0.19	0.19	0.19	0.20	0.20	0.20	0.20	0.21	0.21	0.21	0.25	0.13	0.13	0.22	0.22

March 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $593,605K ÷ ($593,605K + $5,073,820K)
= 0.10

The debt-to-capital ratio for Biomarin Pharmaceutical Inc has shown some fluctuations over the past quarters. As of March 31, 2024, the ratio stood at 0.10, indicating that only 10% of the company's capital structure was funded by debt. This is a relatively low level of debt utilization, which suggests that the company relies more on equity financing.

The ratio has been fairly consistent around the 0.20 mark from December 31, 2021, to June 30, 2023, showing a moderate level of debt in relation to the company's capital. However, there was a significant decrease in the ratio in the March 31, 2020, quarter, when it dropped to 0.13. This could indicate a strategic shift towards reducing debt levels or a significant increase in equity financing during that period.

The highest debt-to-capital ratio observed was 0.25 on June 30, 2020, suggesting a quarter where debt played a more substantial role in the company's capital structure.

Overall, Biomarin Pharmaceutical Inc's debt-to-capital ratio has exhibited variability but generally reflects a conservative approach to debt financing, with a preference for equity funding. Continued monitoring of this ratio will be important to assess the company's long-term financial strategy and risk profile.