Myriad Genetics Inc (MYGN)

Debt-to-assets ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Jun 30, 2020	Jun 30, 2019
Long-term debt	US$ in thousands	38,500	0	0	224,400	233,500
Total assets	US$ in thousands	1,146,500	1,198,700	1,320,700	1,404,600	1,562,700
Debt-to-assets ratio		0.03	0.00	0.00	0.16	0.15

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $38,500K ÷ $1,146,500K
= 0.03

The debt-to-assets ratio for Myriad Genetics, Inc. has shown variability over the past five periods. As of December 31, 2023, the ratio stands at 0.03, indicating that only 3% of the company's assets are financed by debt. This suggests a conservative capital structure with low reliance on debt financing.

In comparison, the ratios for December 31, 2022, and December 31, 2021 were both 0.00, implying that the company had no debt relative to its total assets during those periods. This could indicate a period of financial stability or strategic decision to operate with little to no debt obligations.

On the other hand, as of June 30, 2020, and June 30, 2019, the ratios were 0.16 and 0.15, respectively. These higher ratios suggest a relatively higher proportion of debt financing compared to the more recent periods, signifying potentially greater financial leverage during those times.

Overall, the trend in Myriad Genetics, Inc.'s debt-to-assets ratio indicates a varying approach to debt management over the past five periods, with recent years showing a shift towards lower debt reliance or even debt avoidance, potentially reflecting the company's efforts to maintain a conservative financial structure.