Myriad Genetics Inc (MYGN)

Debt-to-assets ratio

		Jun 30, 2024	Mar 31, 2024	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	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019
Long-term debt	US$ in thousands	38,800	38,700	38,500	38,500	38,400	—	0	—	—	—	0	0	0	—	—	224,400	225,200	225,100	225,000	233,500
Total assets	US$ in thousands	1,085,100	1,110,500	1,146,500	1,149,100	1,187,200	1,169,300	1,198,700	1,212,000	1,210,200	1,255,400	1,320,700	1,335,900	1,360,300	1,336,900	1,444,500	1,404,600	1,446,700	1,578,300	1,591,200	1,562,700
Debt-to-assets ratio		0.04	0.03	0.03	0.03	0.03	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.16	0.16	0.14	0.14	0.15

June 30, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $38,800K ÷ $1,085,100K
= 0.04

The debt-to-assets ratio of Myriad Genetics Inc has been relatively low and stable over the past few quarters, ranging from 0.00 to 0.04. This indicates that the company's level of debt in relation to its total assets is low, which can be considered a positive indicator of financial health and stability.

However, there was a slight increase in the debt-to-assets ratio in the most recent quarter, rising to 0.04 compared to 0.03 in the previous quarter. This increase may suggest a slight increase in the company's reliance on debt to finance its operations or investments.

Overall, the trend of low and stable debt-to-assets ratios reflects a conservative approach to leveraging debt within the company's capital structure. It is important to continue monitoring this ratio in future quarters to ensure that the company's debt levels remain at manageable levels relative to its assets.