Innoviva Inc (INVA)

Debt-to-equity 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 stockholders’ equity	US$ in thousands	674,955	627,493	555,087	561,493	565,788	641,368	388,337	386,642	414,743	402,811	329,780	634,461	539,912	485,556	456,907	379,543	313,495	267,055	226,683	188,245
Debt-to-equity ratio		0.66	0.71	0.80	0.79	0.79	0.69	1.14	1.15	0.95	0.97	1.18	0.61	0.71	0.79	0.83	1.00	1.20	1.46	1.71	2.04

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $446,234K ÷ $674,955K
= 0.66

The debt-to-equity ratio for Innoviva Inc has fluctuated over the past eight quarters. In Q4 2023, the ratio was 0.66, indicating that the company had a lower level of debt relative to its equity. This was a decrease compared to the previous quarter where the ratio was 0.71.

From Q1 2022 to Q2 2022, there was a significant increase in the debt-to-equity ratio from 1.39 to 1.39, indicating a higher proportion of debt in relation to equity during that period. This ratio gradually decreased in the following quarters until reaching 0.66 in Q4 2023.

Overall, the trend in the debt-to-equity ratio suggests that Innoviva Inc has been managing its debt levels relative to its equity in a fluctuating manner over the past two years. It is important for the company to consistently monitor and manage its debt levels to ensure financial stability and optimal capital structure.