Halozyme Therapeutics Inc (HALO)

Debt-to-capital 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	1,499,250	1,497,620	1,496,000	1,494,380	1,492,770	1,491,160	—	—	787,255	—	—	—	0	—	—	—	383,045	—	—	—
Total stockholders’ equity	US$ in thousands	83,808	249,181	151,033	65,850	169,798	96,991	293,171	260,256	196,953	281,674	119,746	67,595	151,047	98,988	105,577	58,042	91,765	245,353	260,052	260,047
Debt-to-capital ratio		0.95	0.86	0.91	0.96	0.90	0.94	0.00	0.00	0.80	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.81	0.00	0.00	0.00

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $1,499,250K ÷ ($1,499,250K + $83,808K)
= 0.95

The debt-to-capital ratio measures the proportion of a company's capital structure that is funded by debt. A higher ratio indicates a higher level of debt relative to total capital, which may pose higher financial risk and leverage for the company.

Analyzing the trend of Halozyme Therapeutics Inc.'s debt-to-capital ratio over the past quarters, we observe fluctuations in the ratio. In Q4 2023, the ratio was 0.95, which is relatively high compared to previous quarters. This suggests that a significant portion of the company's capital is financed through debt.

The ratio decreased in Q3 2023 to 0.86, indicating a lower reliance on debt funding. However, in Q2 and Q1 2023, the ratio increased to 0.91 and 0.96, respectively, suggesting a trend towards higher debt levels in the capital structure.

Comparing to the same quarters in the previous year, we see a similar pattern of fluctuation with the ratio ranging from 0.77 to 0.94. This indicates that the company's debt levels have been varying over time, potentially due to changes in financing activities or business operations.

Overall, the trend of Halozyme Therapeutics Inc.'s debt-to-capital ratio shows variability in debt usage, which may have implications for the company's financial risk, cost of capital, and future borrowing capacity. Further analysis of the company's overall financial position and debt management strategies would provide deeper insights into the implications of these ratio fluctuations.