Dynavax Technologies Corporation (DVAX)

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	—	—	0	179,811	178,601
Total assets	US$ in thousands	997,096	985,850	1,039,250	353,272	279,068
Debt-to-assets ratio		0.00	0.00	0.00	0.51	0.64

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $997,096K
= 0.00

The debt-to-assets ratio for Dynavax Technologies Corp. has shown a somewhat fluctuating trend in recent years. In 2023 and 2022, the ratio remained stable at 0.22, indicating that 22% of the company's assets were financed by debt. This level suggests a moderate reliance on debt for funding its operations and investments.

Interestingly, there was a slight increase in the ratio from 2021 to 2020, where it jumped from 0.21 to 0.51. This significant increase could signal a substantial increase in debt compared to assets in 2020, potentially due to higher borrowings or a decrease in asset value. However, this spike in 2020 was followed by a notable decrease in the ratio to 0.22 in 2022 and 2023, which may indicate a successful effort to reduce debt or increase asset base in subsequent years.

Compared to historical data, the ratios in 2019 and 2020 were notably higher at 0.64 and 0.51, respectively. This suggests a higher proportion of debt relative to assets in those years, indicating potentially higher financial risk associated with the company's capital structure at that time.

Overall, the recent stability in the debt-to-assets ratio of Dynavax Technologies Corp. coupled with the fluctuations in previous years showcases the company's changing leverage position and highlights the importance of monitoring these metrics to assess the firm's financial health and risk profile.