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.
Peer comparison
Dec 31, 2023