Myriad Genetics Inc (MYGN)

Debt-to-capital 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 stockholders’ equity	US$ in thousands	740,500	760,000	783,200	683,400	735,200	835,200	885,800	916,600	947,400	950,100	967,800	968,600	902,500	875,200	909,300	918,200	967,200	1,077,200	1,074,500	1,088,900
Debt-to-capital ratio		0.05	0.05	0.05	0.05	0.05	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.20	0.19	0.17	0.17	0.18

June 30, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $38,800K ÷ ($38,800K + $740,500K)
= 0.05

The debt-to-capital ratio of Myriad Genetics Inc has displayed a consistent downward trend over the past few quarters, indicating a decreasing reliance on debt in relation to its overall capital structure. There was a notable shift in the ratio from 0.20 in September 2020 to 0.00 from December 2020 onwards, suggesting a significant repayment or reduction of debt during that period. Subsequently, the ratio remained stable at 0.00 until June 2022, where it started to slightly increase, reaching 0.05 in June 2023 and remaining at that level until June 2024.

Overall, the company's low debt-to-capital ratio signifies a conservative approach in funding its operations, as it appears to prefer financing its activities primarily through equity rather than debt. This can be viewed positively by investors and creditors, as it indicates a lower financial risk and potentially more financial flexibility for the company.