Myriad Genetics Inc (MYGN)
Solvency ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.04 | 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 |
| 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 |
| 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 |
| Financial leverage ratio | 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 | 1.59 | 1.53 | 1.50 | 1.47 | 1.48 |
Myriad Genetics Inc's solvency ratios indicate a stable financial position over the analyzed periods. The debt-to-assets ratio has remained consistently low, ranging from 0.00 to 0.04, suggesting that the company has a low level of debt relative to its total assets. This implies that Myriad Genetics has a strong ability to cover its debt obligations with its assets.
Similarly, the debt-to-capital and debt-to-equity ratios have also remained low and stable, fluctuating between 0.00 and 0.05 for the debt-to-capital ratio and between 0.00 and 0.06 for the debt-to-equity ratio. These ratios indicate that the company's capital structure is relatively conservative, with a small proportion of debt compared to capital and equity.
The financial leverage ratio, which measures the extent to which the company relies on debt to finance its operations, has shown some variability but generally remained within a manageable range. Myriad Genetics' financial leverage ratio ranged from 1.28 to 1.68, suggesting that the company has maintained a prudent balance between debt and equity in its capital structure.
Overall, Myriad Genetics Inc's solvency ratios reflect a financially sound and stable position, with low levels of debt relative to assets, capital, and equity, indicating a lower risk of insolvency or financial distress.
Coverage ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | -37.77 | -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 |
The interest coverage ratio for Myriad Genetics Inc has shown significant fluctuations over the past several quarters. The ratio has been consistently below 1, indicating that the company's earnings before interest and taxes are insufficient to cover its interest expenses. This raises concerns about the company's ability to meet its debt obligations from its operating income alone.
The most recent data for September 30, 2024, shows an interest coverage ratio of -51.50, indicating a significant decline in the company's ability to cover its interest expenses. This represents a concerning trend and suggests a potential strain on the company's financial health.
Overall, the consistently low and negative interest coverage ratios for Myriad Genetics Inc raise red flags regarding its financial stability and ability to service its debt obligations. Investors and stakeholders should closely monitor the company's financial performance and debt management strategies to assess the risks associated with its financial position.