Exelixis Inc (EXEL)
Solvency ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financial leverage ratio | 1.30 | 1.23 | 1.18 | 1.14 | 1.12 |
Exelixis Inc has consistently maintained a very low level of indebtedness in terms of its solvency ratios over the past five years. The debt-to-assets, debt-to-capital, and debt-to-equity ratios have all been recorded as 0.00 for each year, indicating that the company has not relied on debt financing to fund its operations and investments.
However, it is important to note that the financial leverage ratio has been gradually increasing over the years, from 1.12 in 2019 to 1.30 in 2023. This indicates that the company's reliance on debt to finance its assets has been growing, albeit from a very low base. Despite this increase, the overall level of financial leverage remains relatively low, suggesting a conservative capital structure.
Overall, based on the solvency ratios, Exelixis Inc appears to have a strong financial position with minimal debt obligations relative to its assets, capital, and equity. While the increasing trend in the financial leverage ratio should be monitored, it does not pose an immediate concern given the overall low levels of leverage.
Coverage ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Interest coverage | — | 3.75 | — | — | — |
The interest coverage ratio for Exelixis Inc for the years ending December 31, 2019, 2021, and 2020 is not available from the provided data. However, for the fiscal year ending December 31, 2022, the interest coverage ratio was calculated to be 3.75. This indicates that Exelixis Inc generated 3.75 times the earnings needed to cover its interest expenses in 2022.
The lack of data for the other years makes it challenging to assess the trend in interest coverage over time. It is essential to have consistent data to draw meaningful conclusions regarding the company's ability to meet its interest obligations through operating profits. Further analysis and additional data points would be necessary to provide a more comprehensive evaluation of Exelixis Inc's interest coverage performance across multiple years.