Myriad Genetics Inc (MYGN)

Debt-to-equity 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-equity ratio		0.05	0.00	0.00	0.24	0.21

December 31, 2023 calculation

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

The debt-to-equity ratio of Myriad Genetics, Inc. has shown fluctuations over the past five years. In 2023, the company had a debt-to-equity ratio of 0.05, indicating a relatively low level of debt compared to equity. This suggests that the company has a strong equity position to cover its debt obligations.

In 2022 and 2021, the company had a debt-to-equity ratio of 0.00, indicating that the company had no debt during those years. This can be a positive sign as it indicates that the company was relying more on equity financing rather than debt financing to fund its operations.

In 2020, the debt-to-equity ratio increased to 0.24, suggesting a higher level of debt relative to equity compared to the previous years. This could indicate increased leverage and financial risk for the company.

In 2019, the debt-to-equity ratio was 0.21, showing a similar trend to 2020, with a slightly higher level of debt relative to equity compared to 2022 and 2021.

Overall, the fluctuation in the debt-to-equity ratio of Myriad Genetics, Inc. indicates changes in the company's capital structure and financial leverage over the years. It is essential for investors and stakeholders to monitor these ratios to assess the company's ability to meet its debt obligations and manage financial risks effectively.