Myriad Genetics Inc (MYGN)

Debt-to-capital 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 stockholders’ equity	US$ in thousands	731,700	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
Debt-to-capital ratio		0.05	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

September 30, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $39,000K ÷ ($39,000K + $731,700K)
= 0.05

The debt-to-capital ratio of Myriad Genetics Inc has remained consistent at 0.05 from September 30, 2023, to September 30, 2024, indicating that the company maintains a low level of debt relative to its total capital over this period. This suggests that Myriad Genetics relies more on equity financing rather than debt financing to fund its operations and growth. However, it is worth noting that the ratio was 0.00 in the earlier quarters of 2023, implying that the company may have increased its debt levels slightly in the later periods of 2023 and 2024.

The debt-to-capital ratio reached a peak of 0.20 in September 30, 2020, and has since decreased gradually. This downward trend in the ratio signifies that Myriad Genetics has been successfully reducing its debt levels in relation to its total capital over the past few years. Overall, a low and stable debt-to-capital ratio indicates that the company has a strong financial position with less financial risk associated with its capital structure.