Harmony Biosciences Holdings (HRMY)

Debt-to-equity 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
Long-term debt	US$ in thousands	178,566	182,131	180,487	185,063	189,647	189,725	189,807	189,896	189,984	190,069	195,610	194,913	194,250	192,858
Total stockholders’ equity	US$ in thousands	466,992	481,332	485,172	443,041	402,838	343,884	246,533	214,503	186,507	152,018	126,551	107,879	97,180	94,549
Debt-to-equity ratio		0.38	0.38	0.37	0.42	0.47	0.55	0.77	0.89	1.02	1.25	1.55	1.81	2.00	2.04

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $178,566K ÷ $466,992K
= 0.38

The debt-to-equity ratio of Harmony Biosciences Holdings Inc has shown a decreasing trend from the fourth quarter of 2022 to the second quarter of 2023, indicating a reduction in the company's reliance on debt financing relative to equity. This trend reversed in the first quarter of 2023 and continued to increase in the subsequent quarter.

The ratio was relatively stable at around 0.41 in the third and fourth quarters of 2023, suggesting a balanced mix of debt and equity funding as a source of capital for the company. However, compared to the earlier quarters in 2022 where the ratio was higher, the company has reduced its debt levels in the recent quarters, which could signify improved financial stability and risk management.

Overall, the debt-to-equity ratio of Harmony Biosciences Holdings Inc has fluctuated over the past eight quarters, indicating varying levels of debt and equity utilization. It is important for investors and creditors to monitor this ratio closely to assess the company's financial health and risk profile.