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.