Myriad Genetics Inc (MYGN)
Solvency ratios
| Dec 31, 2024 | 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 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financial leverage ratio | 1.47 | 1.48 | 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 | 1.61 | 1.59 | 1.53 | 1.50 |
Myriad Genetics Inc maintains a strong solvency position, as reflected in its consistently low debt-to-assets, debt-to-capital, and debt-to-equity ratios, all of which have remained at 0.00 across the reporting periods from March 2020 to December 2024. This indicates that the company is financing its operations primarily through equity rather than debt.
Additionally, the financial leverage ratio has exhibited a decreasing trend over the same period, indicating a reduction in the company's reliance on debt to finance its assets. The ratio decreased from 1.50 in March 2020 to 1.47 in December 2024. This downward trend suggests that Myriad Genetics has been successful in managing its debt levels relative to its equity, contributing to a more stable financial structure.
Overall, the solvency ratios of Myriad Genetics Inc demonstrate a prudent approach to managing its capital structure, with a strong emphasis on equity financing and effective debt management strategies.
Coverage ratios
| Dec 31, 2024 | 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 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | -28.39 | -36.97 | -47.91 | -80.21 | -89.45 | -94.48 | -95.85 | -57.50 | -38.66 | -43.11 | -11.10 | -3.60 | -7.12 | -7.81 | -14.21 | -17.59 | -17.62 | -12.97 | -10.82 | -7.77 |
The interest coverage ratio for Myriad Genetics Inc has shown a declining trend over the analyzed period from March 31, 2020, to December 31, 2024. The ratio started at a very low level of -7.77 in March 2020 and continued to deteriorate, reaching its lowest point of -95.85 in June 30, 2023. This indicates a significant strain on the company's ability to cover its interest expenses with its operating income.
After reaching the lowest point in mid-2023, the interest coverage ratio improved slightly but remained in negative territory. By December 31, 2024, the ratio had improved to -28.39, suggesting a partial recovery in the company's ability to cover its interest payments.
The consistently negative interest coverage ratios raise concerns about Myriad Genetics Inc's financial health and its ability to meet its debt obligations. Investors and creditors may view such a trend as a warning sign of potential financial distress and increased default risk.
It is essential for stakeholders to closely monitor the interest coverage ratio and assess the company's overall financial performance, profitability, and debt levels to ensure the sustainability of its operations in the long term.