NeoGenomics Inc (NEO)
Debt-to-equity ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 538,198 | 535,322 | 532,483 | 168,120 | 91,829 |
| Total stockholders’ equity | US$ in thousands | 941,537 | 998,023 | 1,108,280 | 694,294 | 507,408 |
| Debt-to-equity ratio | 0.57 | 0.54 | 0.48 | 0.24 | 0.18 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $538,198K ÷ $941,537K
= 0.57
The debt-to-equity ratio for Neogenomics Inc. has been gradually increasing over the past five years, suggesting an increasing reliance on debt financing relative to equity. In 2019, the ratio was at its lowest at 0.21, indicating a lower level of debt compared to equity. However, by the end of 2023, the ratio had risen to 0.57, reflecting a higher proportion of debt in the company's capital structure.
This trend indicates that Neogenomics Inc. has been taking on more debt over the years, which could potentially increase financial risk and interest expenses. Investors and stakeholders may want to closely monitor the company's debt levels and assess its ability to manage and service its increasing debt obligations.