Incyte Corporation (INCY)
Solvency ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 |
| 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 |
The solvency ratios for Incyte Corp. indicate a strong financial position with consistently low levels of debt relative to assets, capital, and equity. The debt-to-assets, debt-to-capital, and debt-to-equity ratios have remained stable at 0.01 across all quarters, signaling minimal reliance on debt financing to support its operations.
The financial leverage ratio, which measures the extent of a company's financial leverage, shows slight fluctuation but remains within a relatively narrow range between 1.30 and 1.34. This suggests that the company has maintained a conservative capital structure and has a low level of financial risk.
Overall, based on these solvency ratios, Incyte Corp. appears to have a healthy balance sheet and a solid financial foundation, indicating its ability to meet its financial obligations and operate effectively in the long term.
Coverage ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 328.01 | 267.72 | 230.71 | 208.92 | 199.47 | 207.66 | 247.92 | 257.46 | 299.97 | 391.48 | 241.11 | 281.26 | -105.81 | -115.58 | -50.05 | -150.45 | 263.42 | 270.18 | 223.90 | 175.00 |
Incyte Corp.'s interest coverage ratio has been relatively stable over the past eight quarters, indicating the company's ability to comfortably meet its interest obligations with its earnings before interest and taxes (EBIT). The interest coverage ratio measures the company's ability to pay interest expenses on outstanding debt, with higher ratios indicating stronger financial health and lower risk of default.
In Q4 2023, the interest coverage ratio was 255.50, which indicates that the company's EBIT was sufficient to cover its interest expenses 255.50 times over. This demonstrates a very strong ability to meet interest payments and suggests that Incyte Corp. is in a solid financial position.
Although there have been fluctuations in the interest coverage ratio over the quarters, ranging from 182.08 to 296.34, the ratios have generally remained above 200. This consistent trend indicates that Incyte Corp. has been effectively managing its interest expenses relative to its earnings, providing a cushion against potential financial challenges.
Overall, the trend in Incyte Corp.'s interest coverage ratio shows that the company has a strong ability to service its debt and suggests a stable financial position with respect to its interest obligations.