Innoviva Inc (INVA)

Debt-to-assets 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
Long-term debt	US$ in thousands	446,234	445,718	445,201	444,692	444,180	443,679	443,178	442,731	394,653	392,295	389,989	387,728	385,517	383,350	381,230	379,152	377,120	388,644	386,675	384,744
Total assets	US$ in thousands	1,243,510	1,188,100	1,118,240	1,129,770	1,231,500	1,327,710	1,137,640	1,107,470	926,395	887,239	789,150	1,088,290	999,570	922,256	879,619	788,011	724,826	675,953	642,307	590,114
Debt-to-assets ratio		0.36	0.38	0.40	0.39	0.36	0.33	0.39	0.40	0.43	0.44	0.49	0.36	0.39	0.42	0.43	0.48	0.52	0.57	0.60	0.65

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 fluctuations over the past eight quarters. The ratio indicates the proportion of the company's assets that are financed by debt. A lower ratio suggests a lower level of financial risk, while a higher ratio indicates higher financial leverage and risk.

In Q1 2022, Innoviva Inc had a relatively high debt-to-assets ratio of 0.49, which declined in Q2 2022 to 0.47. The ratio decreased further to 0.41 in Q3 2022, before increasing to 0.44 in Q4 2022. The trend continued in 2023 with a decline to 0.39 in Q1 2023, followed by a slight increase to 0.40 in Q2 2023 and another increase to 0.38 in Q3 2023. Finally, the ratio decreased to 0.36 in Q4 2023.

Overall, the decreasing trend in the debt-to-assets ratio since Q1 2022 indicates that Innoviva Inc has been gradually reducing its reliance on debt to finance its assets. This could be a positive sign of improved financial stability and lower risk for the company. However, the ratio should be monitored in future quarters to assess the company's ongoing debt management strategies and financial health.