Dynavax Technologies Corporation (DVAX)

Debt-to-capital 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
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	0	220,223	219,959	179,889	179,811	179,733	179,656	179,583	178,601	177,615	176,636	175,673
Total stockholders’ equity	US$ in thousands	622,072	604,916	577,205	563,732	581,013	500,576	422,799	287,484	222,374	67,576	83,380	99,762	58,693	69,284	58,295	11,824	8,290	39,156	10,588	43,159
Debt-to-capital ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.77	0.73	0.64	0.75	0.72	0.76	0.94	0.96	0.82	0.94	0.80

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $622,072K)
= 0.00

The debt-to-capital ratio of Dynavax Technologies Corp. has shown a decreasing trend over the past eight quarters, starting at 0.43 in Q1 2022 and decreasing to 0.26 in Q4 2023. This suggests that the company has been reducing its reliance on debt to finance its operations and growth, moving towards a more equity-funded capital structure. The decreasing trend in the debt-to-capital ratio indicates improving financial health and reduced financial risk for the company. It is important for investors and stakeholders to monitor this trend to assess the company's ability to manage its debt obligations and maintain a sustainable capital structure.