Myriad Genetics Inc (MYGN)

Debt-to-equity 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-equity ratio		0.05	0.05	0.05	0.05	0.06	0.05	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.24	0.23	0.21	0.21

September 30, 2024 calculation

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

The debt-to-equity ratio of Myriad Genetics Inc has remained relatively stable at a low level around 0.05 in the recent quarters, indicating that the company is financing its operations primarily through equity rather than debt. This suggests that the company has a conservative financial structure with a low reliance on borrowed funds, which can be viewed positively by investors and creditors.

However, there was a slight increase in the ratio to 0.06 in the third quarter of 2023, followed by a significant decline to 0.00 in the first quarter of 2023. This sudden drop to zero debt in the first quarter of 2023 could potentially indicate a strategic decision to pay off existing debt or a shift towards using more equity financing.

Looking back further, there was a notable increase in the debt-to-equity ratio in the fourth quarter of 2020, where it peaked at 0.24, indicating a higher level of debt relative to equity during that period. This could have been a result of increased borrowing for expansion or investment purposes.

Overall, the consistent low debt-to-equity ratio in recent quarters reflects a strong balance sheet and financial stability for Myriad Genetics Inc, which can be seen as a positive sign for the company's financial health and long-term sustainability.