Neurocrine Biosciences Inc (NBIX)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | 0 | 335,100 | 317,900 | 408,807 |
| Total assets | US$ in thousands | 3,251,400 | 2,368,700 | 2,072,500 | 1,734,700 | 1,306,000 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.16 | 0.18 | 0.31 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $3,251,400K
= 0.00
The debt-to-assets ratio of Neurocrine Biosciences, Inc. has been on a declining trend over the past five years, indicating a stronger financial position with lower reliance on debt to finance its assets. The ratio decreased from 0.31 in 2019 to 0.05 in 2023, reflecting a significant reduction in the proportion of debt relative to total assets.
The company's decreasing debt-to-assets ratio suggests that Neurocrine Biosciences has been effectively managing its debt levels and improving its asset base. A lower ratio indicates that the company has more assets relative to its debts, which can be a positive sign of financial stability and lower financial risk.
The declining trend in the debt-to-assets ratio may have resulted from various factors such as improved profitability, debt repayment, and efficient asset utilization. Overall, the decreasing trend in the debt-to-assets ratio for Neurocrine Biosciences, Inc. implies a healthier balance sheet and a lower level of financial leverage over the years.
Peer comparison
Dec 31, 2023