Incyte Corporation (INCY)

Financial leverage 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
Total assets	US$ in thousands	6,782,110	6,388,240	6,208,260	5,797,620	5,840,980	5,510,210	5,319,040	5,054,220	4,933,350	4,198,830	3,904,620	3,661,440	3,560,920	3,307,430	3,212,320	2,752,420	3,426,750	3,214,820	2,947,630	2,754,160
Total stockholders’ equity	US$ in thousands	5,189,840	4,931,450	4,740,690	4,462,570	4,370,120	4,226,650	4,085,060	3,863,070	3,770,000	3,148,660	2,935,860	2,727,840	2,611,270	2,390,830	2,344,600	1,937,720	2,598,410	2,422,530	2,247,190	2,085,570
Financial leverage ratio		1.31	1.30	1.31	1.30	1.34	1.30	1.30	1.31	1.31	1.33	1.33	1.34	1.36	1.38	1.37	1.42	1.32	1.33	1.31	1.32

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $6,782,110K ÷ $5,189,840K
= 1.31

The financial leverage ratio for Incyte Corp. in Q4 2023, Q3 2023, Q2 2023, and Q1 2023 was relatively stable, ranging between 1.30 and 1.31. This indicates that the company's reliance on debt to finance its operations remained consistent during this period.

Comparing to the same quarter from the previous year, Q4 2022, the financial leverage ratio was slightly higher at 1.34. This suggests that there may have been a slight increase in the company's debt levels relative to its equity over the year.

Overall, Incyte Corp.'s financial leverage ratio has been relatively steady, which could imply that the company has been maintaining a balanced capital structure with a mix of debt and equity financing. However, monitoring this ratio over time is important to assess any significant shifts in the company's capital structure and financial risk.