Exelixis Inc (EXEL)
Solvency ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financial leverage ratio | 1.30 | 1.27 | 1.24 | 1.23 | 1.23 | 1.19 | 1.20 | 1.16 | 1.18 | 1.16 | 1.16 | 1.15 | 1.14 | 1.14 | 1.12 | 1.12 | 1.12 | 1.11 | 1.10 | 1.11 |
Exelixis Inc.'s solvency ratios indicate a consistently low level of leverage and debt utilization over the period analyzed. The debt-to-assets, debt-to-capital, and debt-to-equity ratios have all been at 0.00, suggesting the company has no debt relative to its assets or capital structure.
However, the financial leverage ratio has shown some fluctuations over time, averaging around 1.20. This indicates that Exelixis Inc. has been employing some financial leverage to support its operations, with a debt component contributing to around 20% of the company's capital structure.
Overall, Exelixis Inc. appears to have a conservative approach to its capital structure, maintaining a healthy balance between debt and equity to support its financial health and stability.
Coverage ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 6.50 | 1.09 | 3.00 | 2.83 | 7.34 | 22.71 | 50.61 | 205.55 | — | — | — | — | — | — | — | — | — | — | — | — |
Exelixis Inc's interest coverage ratio has fluctuated over the recent quarters. At the end of December 2023, the company's interest coverage stood at a healthy 6.50, indicating that the company generated sufficient earnings before interest and taxes (EBIT) to cover its interest expenses. However, in September 2023, the interest coverage ratio dropped significantly to 1.09, signaling a potential strain on the company's ability to meet its interest obligations with its operating income.
The interest coverage ratio improved in the following quarters, with ratios of 3.00 in June 2023 and 2.83 in March 2023. Notably, in March 2022, the interest coverage ratio spiked to 205.55, reflecting a strong ability to cover interest payments that period. The significant variability in the interest coverage ratio over the quarters may be attributed to fluctuations in EBIT and interest expenses.
Overall, effective monitoring of Exelixis Inc's interest coverage ratio is essential to assess the company's ability to meet its interest obligations and manage its debt levels. Investors and creditors may consider conducting a trend analysis of the ratio over time to glean insights into the company's financial health and risk profile.