Fulgent Genetics Inc (FLGT)
Debt-to-assets 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 | 2,964 | — | — | — | 3,372 | — | — | — | — | 5,947 | 5,899 | — | — | — | — | — | — | — | — | — |
| Total assets | US$ in thousands | 1,235,330 | 1,358,400 | 1,354,580 | 1,376,770 | 1,386,050 | 1,405,780 | 1,461,660 | 1,465,590 | 1,278,720 | 1,204,670 | 1,049,860 | 999,083 | 700,461 | 247,311 | 95,915 | 89,325 | 88,756 | 61,145 | 56,436 | 55,652 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $2,964K ÷ $1,235,330K
= 0.00
Fulgent Genetics Inc has maintained a consistently low debt-to-assets ratio of 0.00 in the fourth quarters of 2023 and 2022, as well as in the third and second quarters of 2023. This indicates that the company has been utilizing minimal debt relative to its total assets during these periods. However, in the first quarter of 2023 and in the first quarter of 2022, the debt-to-assets ratio slightly increased to 0.01, suggesting a very low level of debt compared to total assets. Overall, the company's debt management strategy seems prudent, as it shows a strong ability to finance its operations primarily through equity and has relatively low financial risk associated with debt.
Peer comparison
Dec 31, 2023