Doximity Inc (DOCS)

Financial leverage 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
Total assets	US$ in thousands	1,079,370	1,000,650	1,025,570	1,153,510	1,136,890	1,067,090	1,028,340	1,050,930	991,357	932,172	869,255	830,182
Total stockholders’ equity	US$ in thousands	901,397	864,614	871,467	990,787	966,116	930,174	878,964	902,166	878,594	838,848	772,560	728,452
Financial leverage ratio		1.20	1.16	1.18	1.16	1.18	1.15	1.17	1.16	1.13	1.11	1.13	1.14

March 31, 2024 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $1,079,370K ÷ $901,397K
= 1.20

The financial leverage ratio of Doximity Inc has shown a fluctuating trend over the past several quarters. The ratio has ranged from 1.11 to 1.20 in the last 12 quarters. Overall, the company's financial leverage ratio has been relatively stable, with a slight upward trend observed in recent quarters. This indicates that the company has been relying more on debt to finance its operations and growth.

A financial leverage ratio of 1.20 as of March 31, 2024, suggests that for every dollar of equity, the company has $1.20 of debt. This indicates a slightly higher reliance on debt financing compared to previous quarters. It is important for stakeholders to monitor this trend closely, as an increasing financial leverage ratio could potentially increase the company's financial risk and impact its ability to meet its financial obligations in the future.