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.