Myriad Genetics Inc (MYGN)

Debt-to-capital 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 stockholders’ equity	US$ in thousands	783,200	885,800	967,800	918,200	1,088,900
Debt-to-capital ratio		0.05	0.00	0.00	0.20	0.18

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $38,500K ÷ ($38,500K + $783,200K)
= 0.05

The debt-to-capital ratio of Myriad Genetics, Inc. has shown fluctuations over the past five periods. In the most recent period as of December 31, 2023, the company's debt-to-capital ratio stands at 0.05, indicating that only 5% of the company's capital structure is funded by debt. This suggests that Myriad Genetics has a prudent debt management strategy in place.

Comparing this to the previous periods, the company had no debt as a percentage of its capital structure in both December 31, 2022, and December 31, 2021. However, there was a notable increase in the debt-to-capital ratio as of June 30, 2020, where it reached 0.20, signifying that 20% of the company's capital was financed through debt at that time. This increase may suggest a shift in the company's financing strategy or an increase in leverage during that period.

The debt-to-capital ratio as of December 31, 2023, is lower compared to the ratio as of June 30, 2020, indicating a possible reduction in debt levels relative to capital. Overall, the current debt-to-capital ratio of 0.05 reflects Myriad Genetics' conservative approach towards debt utilization for funding its operations and growth.