Neurocrine Biosciences Inc (NBIX)

Financial leverage ratio

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Total assets	US$ in thousands	3,251,400	2,848,200	2,613,100	2,359,800	2,368,700	2,143,400	2,005,700	2,144,500	2,072,500	2,017,300	1,956,400	1,846,400	1,734,700	1,502,600	1,515,600	1,361,900	1,306,000	1,179,940	1,066,860	957,723
Total stockholders’ equity	US$ in thousands	2,232,000	2,002,100	1,853,000	1,684,500	1,707,800	1,544,600	1,423,400	1,391,100	1,374,000	1,346,000	1,279,200	1,205,600	1,126,200	804,300	831,200	700,300	636,900	574,500	483,700	409,300
Financial leverage ratio		1.46	1.42	1.41	1.40	1.39	1.39	1.41	1.54	1.51	1.50	1.53	1.53	1.54	1.87	1.82	1.94	2.05	2.05	2.21	2.34

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $3,251,400K ÷ $2,232,000K
= 1.46

The financial leverage ratio measures the extent to which a company relies on debt to finance its operations and growth. Neurocrine Biosciences' financial leverage ratio has been relatively stable in recent quarters, ranging from 1.39 to 1.46.

A financial leverage ratio of 1.46 in Q4 2023 indicates that for every dollar of equity, the company has $1.46 of total assets, with the difference financed by debt. This suggests that Neurocrine Biosciences has a moderate level of financial leverage, implying a reasonable level of risk associated with debt.

Overall, the trend in the financial leverage ratio for Neurocrine Biosciences has remained within a relatively narrow range, with a slight increase from 1.39 in Q4 2022 to 1.46 in Q4 2023. This stability indicates that the company has maintained a consistent capital structure in recent quarters. However, it would be beneficial for stakeholders to closely monitor any further changes in the ratio to ensure the company's financial health and ability to service its debt obligations effectively.