Myriad Genetics Inc (MYGN)

Debt-to-assets ratio

		Sep 30, 2024	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
Long-term debt	US$ in thousands	39,000	38,800	38,700	38,500	38,500	38,400	—	0	—	—	—	0	0	0	—	—	224,400	225,200	225,100	225,000
Total assets	US$ in thousands	1,081,300	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
Debt-to-assets ratio		0.04	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

September 30, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $39,000K ÷ $1,081,300K
= 0.04

The debt-to-assets ratio for Myriad Genetics Inc has exhibited a consistent and low trend over the most recent quarters, standing at 0.04 as of September 30, 2024. This indicates that only a small portion of the company's assets are financed through debt, suggesting a low level of financial risk. The ratio has remained relatively stable in the range of 0.03 to 0.04 in the past year, reflecting the company's conservative approach to leverage.

In the earlier periods, from 2020 to early 2022, the debt-to-assets ratio was notably higher, peaking at 0.16 in September 2020. However, since then, Myriad Genetics has significantly reduced its reliance on debt for funding, gradually improving the financial health and stability of the business. The successive decreases in the ratio signify a positive trend towards a stronger financial position with a lower debt burden.

The company's strategy of maintaining a low debt-to-assets ratio is beneficial for its long-term sustainability, as it indicates a prudent approach to managing debt levels and financial obligations. Overall, the consistently low debt-to-assets ratio of Myriad Genetics suggests a solid financial foundation and responsible financial management practices.