Neurocrine Biosciences Inc (NBIX)
Financial leverage ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 3,251,400 | 2,368,700 | 2,072,500 | 1,734,700 | 1,306,000 |
| Total stockholders’ equity | US$ in thousands | 2,232,000 | 1,707,800 | 1,374,000 | 1,126,200 | 636,900 |
| Financial leverage ratio | 1.46 | 1.39 | 1.51 | 1.54 | 2.05 |
December 31, 2023 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $3,251,400K ÷ $2,232,000K
= 1.46
The financial leverage ratio of Neurocrine Biosciences, Inc. has been fluctuating over the past five years. The ratio decreased from 2.05 in 2019 to 1.46 in 2023, indicating a decline in the company's reliance on debt to finance its operations. In 2020 and 2021, the ratio increased to 1.54 and 1.51, respectively, suggesting a slight uptick in leverage during those years. However, it decreased again to 1.39 in 2022 before increasing to 1.46 in 2023. Overall, the company has maintained a moderate level of financial leverage, with the ratio hovering around 1.5 in recent years. This indicates that Neurocrine Biosciences, Inc. has been managing its debt levels effectively while still utilizing debt as a part of its capital structure strategy.
Peer comparison
Dec 31, 2023