Repligen Corporation (RGEN)

Debt-to-assets 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
Long-term debt	US$ in thousands	510,143	—	—	—	0	—	—	—	—	—	249,423	246,561	243,737	240,942	238,183	235,458	232,767	230,182	—	—
Total assets	US$ in thousands	2,824,410	2,514,130	2,549,000	2,538,230	2,524,660	2,462,530	2,444,920	2,383,820	2,358,350	2,241,400	2,015,960	1,927,330	1,902,890	1,476,320	1,442,040	1,406,480	1,400,110	1,378,710	1,068,270	797,921
Debt-to-assets ratio		0.18	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.12	0.13	0.13	0.16	0.17	0.17	0.17	0.17	0.00	0.00

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $510,143K ÷ $2,824,410K
= 0.18

The debt-to-assets ratio of Repligen Corp. has remained relatively stable over the past eight quarters, ranging between 0.11 and 0.12. This indicates that, on average, the company has used around 11-12% of its total assets to finance its operations through debt over this period.

A debt-to-assets ratio of 0.21 in Q4 2023 represents a slight increase compared to the previous quarters, suggesting a higher proportion of debt relative to its assets at the end of the year. While this increase may raise concerns about the company's leverage, it is important to note that Repligen Corp. has historically maintained a conservative debt structure, with ratios consistently below 0.15.

Overall, the company's debt-to-assets ratio of around 0.11-0.12 reflects a prudent approach to debt management, indicating that the company relies more on equity financing to support its operations rather than excessive debt. Investors and stakeholders may view this stable debt-to-assets ratio positively, as it signifies a healthy balance between debt and assets in the company's capital structure.