Repligen Corporation (RGEN)

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	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
Total stockholders’ equity	US$ in thousands	1,971,200	1,988,560	1,970,930	1,940,490	1,910,700	1,835,110	1,805,360	1,766,400	1,750,070	1,715,260	1,603,070	1,556,220	1,529,150	1,124,870	1,100,030	1,069,760	1,059,770	1,045,120	878,968	625,025
Financial leverage ratio		1.43	1.26	1.29	1.31	1.32	1.34	1.35	1.35	1.35	1.31	1.26	1.24	1.24	1.31	1.31	1.31	1.32	1.32	1.22	1.28

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $2,824,410K ÷ $1,971,200K
= 1.43

The financial leverage ratio of Repligen Corp. has shown some fluctuations over the past eight quarters. The ratio was highest in Q4 2023 at 1.43 and has ranged between 1.26 and 1.35 in the other quarters. This indicates that the company relies more on debt financing than equity financing, with an average ratio of approximately 1.33 over the period. The increasing trend from Q4 2022 to Q4 2023 suggests a gradual build-up of leverage, which could indicate potential risks associated with higher debt levels. It is important for investors and analysts to closely monitor the company's financial leverage and assess its ability to manage debt effectively in order to maintain financial stability and meet its obligations.