Dynavax Technologies Corporation (DVAX)

Financial leverage 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
Total assets	US$ in thousands	997,096	972,933	936,432	969,922	985,850	999,337	1,023,000	1,008,980	1,039,250	919,711	647,909	490,119	353,272	353,395	329,314	259,256	279,068	301,015	267,081	296,600
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
Financial leverage ratio		1.60	1.61	1.62	1.72	1.70	2.00	2.42	3.51	4.67	13.61	7.77	4.91	6.02	5.10	5.65	21.93	33.66	7.69	25.22	6.87

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $997,096K ÷ $622,072K
= 1.60

The financial leverage ratio of Dynavax Technologies Corp. has shown some fluctuations over the past eight quarters. The ratio ranged from 1.60 to 3.51 during this period, indicating varying levels of financial leverage.

In Q1 2022, the financial leverage ratio was at its highest point of 3.51, suggesting that the company had a significant level of debt in relation to its equity during that period. This high ratio could indicate potential risks associated with a heavy debt burden, such as increased interest expenses and financial instability.

Subsequently, the ratio decreased in the following quarters, reaching a low of 1.60 in Q4 2023. A lower financial leverage ratio generally signifies a more conservative financial structure with less reliance on debt financing. This could indicate improved financial health and reduced risk for the company.

Overall, the fluctuations in Dynavax Technologies Corp.'s financial leverage ratio suggest that the company has been actively managing its capital structure and debt levels over the past two years. Investors and stakeholders should closely monitor these trends to assess the company's long-term financial stability and risk profile.