Myriad Genetics Inc (MYGN)
Solvency ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.04 | 0.03 | 0.03 | 0.03 | 0.03 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.16 | 0.16 | 0.14 | 0.14 | 0.15 |
| 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 |
| Debt-to-equity ratio | 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 | 0.21 |
| Financial leverage ratio | 1.47 | 1.46 | 1.46 | 1.68 | 1.61 | 1.40 | 1.35 | 1.32 | 1.28 | 1.32 | 1.36 | 1.38 | 1.51 | 1.53 | 1.59 | 1.53 | 1.50 | 1.47 | 1.48 | 1.44 |
The solvency ratios of Myriad Genetics Inc indicate a consistently low level of debt relative to its assets, capital, and equity over the periods analyzed. The Debt-to-assets ratio has remained stable around 0.03 to 0.04, suggesting that the company is relatively conservative in its use of debt financing. Similarly, the Debt-to-capital and Debt-to-equity ratios have been maintained at low levels between 0.05 to 0.06, indicating a strong financial position with a minimal reliance on external financing.
The Financial leverage ratio has fluctuated but generally stayed within a reasonable range of 1.28 to 1.68. This metric signals the company's ability to meet its financial obligations and indicates a prudent approach to managing leverage and risk.
Overall, the solvency ratios of Myriad Genetics Inc demonstrate a healthy financial structure with a low debt burden, which bodes well for the company's long-term financial stability and ability to weather economic uncertainties.
Coverage ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | -47.97 | -80.21 | -89.41 | -96.24 | -97.15 | -58.57 | -42.94 | -46.14 | -14.48 | -6.53 | -7.65 | -5.37 | -13.14 | -24.03 | -21.65 | -19.67 | -14.82 | -2.22 | -0.81 | 1.02 |
The interest coverage ratio for Myriad Genetics Inc has exhibited significant fluctuations over the last few quarters, reflecting the company's ability to meet its interest payment obligations. The negative values seen in multiple quarters indicate that the company's earnings before interest and taxes (EBIT) were insufficient to cover its interest expenses during those periods. This could be a cause for concern as it suggests that the company's profitability may have been strained, making it challenging for them to service their debt.
The company experienced a notable decrease in its interest coverage ratio from positive levels in the early quarters of 2019 to highly negative levels by mid-2023, indicating a substantial decline in its ability to cover interest payments. While there was a slight improvement in the most recent quarter, the ratio remains negative, indicating that the company still faces challenges in generating sufficient earnings to cover its interest expenses.
Overall, the consistent negative interest coverage ratios imply that Myriad Genetics Inc may be in a precarious financial position with regards to its ability to meet its interest obligations. Investors and stakeholders should closely monitor the company's financial performance and operational efficiency to assess its sustainability and long-term viability.