Neurocrine Biosciences Inc (NBIX)
Solvency ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.07 | 0.00 | 0.00 | 0.08 | 0.18 | 0.16 | 0.16 | 0.17 | 0.17 | 0.18 | 0.28 | 0.28 | 0.30 | 0.31 | 0.34 | 0.37 | 0.41 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.09 | 0.00 | 0.00 | 0.11 | 0.21 | 0.20 | 0.20 | 0.20 | 0.21 | 0.22 | 0.35 | 0.34 | 0.37 | 0.39 | 0.41 | 0.45 | 0.49 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.10 | 0.00 | 0.00 | 0.12 | 0.27 | 0.24 | 0.25 | 0.26 | 0.27 | 0.28 | 0.53 | 0.50 | 0.59 | 0.64 | 0.70 | 0.82 | 0.96 |
| 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 |
The solvency ratios of Neurocrine Biosciences, Inc. indicate a stable financial position over the quarters analyzed. The debt-to-assets ratio has been consistently low, ranging from 0.05 to 0.07, indicating that the company's level of debt relative to its total assets is minimal. This suggests that Neurocrine Biosciences has a strong ability to cover its debt obligations using its assets.
Similarly, the debt-to-capital and debt-to-equity ratios have also remained low and relatively stable over the quarters, ranging from 0.07 to 0.09 and 0.08 to 0.10, respectively. These ratios suggest that the company relies less on debt financing compared to its equity and capital, which is a positive sign for investors and creditors.
Lastly, the financial leverage ratio has shown a slightly decreasing trend from 1.54 in Q1 2022 to 1.40 in Q1 2023. This ratio indicates the proportion of the company's assets that are financed by debt, with a lower ratio generally considered more favorable. The decrease in the financial leverage ratio further reinforces Neurocrine Biosciences' ability to meet its financial obligations without relying heavily on debt.
Overall, based on the solvency ratios provided, Neurocrine Biosciences, Inc. appears to have a strong financial position with low debt levels relative to its assets, capital, and equity, indicating a sound solvency and ability to meet its long-term obligations.
Coverage ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 73.20 | 55.74 | 50.81 | 16.93 | 31.13 | 7.52 | 1.82 | 5.35 | 4.93 | 6.81 | 3.40 | 4.06 | 4.25 | 4.12 | 7.70 | 6.82 | 2.45 | 1.70 | 1.33 | -0.66 |
Neurocrine Biosciences, Inc.'s interest coverage ratio has shown a consistent upward trend over the past eight quarters, indicating a strengthening ability to meet its interest obligations. The interest coverage ratio has significantly improved from 8.15 in Q1 2022 to 85.83 in Q4 2023, reflecting a robust increase in the company's ability to cover its interest expenses with operating income. This steady improvement suggests that the company's earnings are more than sufficient to cover its interest payments, signifying a positive financial health and lower risk of default on debt obligations. The upward trend in the interest coverage ratio may indicate enhanced profitability, operational efficiency, or effective cost management strategies implemented by Neurocrine Biosciences, Inc.