Innoviva Inc (INVA)

Debt-to-assets ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	446,234	444,180	394,653	385,517	377,120
Total assets	US$ in thousands	1,243,510	1,231,500	926,395	999,570	724,826
Debt-to-assets ratio		0.36	0.36	0.43	0.39	0.52

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $446,234K ÷ $1,243,510K
= 0.36

The debt-to-assets ratio of Innoviva Inc has shown a decreasing trend from 0.52 in 2019 to 0.36 in 2023. This indicates that the company has been reducing its reliance on debt financing in relation to its total assets over the years. A lower debt-to-assets ratio signifies a lower level of financial risk and greater financial stability, as it suggests that the company has a higher proportion of assets financed by equity rather than debt. In 2023, the company's ratio of 0.36 indicates that 36% of its total assets are funded by debt, leaving the remaining 64% financed by equity. This trend may reflect prudent financial management decisions aimed at improving the company's overall financial health and reducing the potential risks associated with excessive debt levels.