United Therapeutics Corporation (UTHR)

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	7,167,000	7,023,600	6,681,300	6,346,000	6,044,500	5,781,600	5,543,300	5,359,800	5,169,100	5,048,900	4,844,900	4,641,000	4,615,000	4,411,200	4,219,400	4,025,900	3,913,400	3,999,600	3,898,900	3,726,700
Total stockholders’ equity	US$ in thousands	5,984,800	5,712,100	5,411,000	5,123,200	4,796,700	4,562,200	4,318,400	4,176,300	3,958,900	3,829,700	3,639,500	3,445,400	3,395,200	3,283,100	3,093,700	2,948,500	2,780,400	2,715,800	2,558,400	2,319,000
Financial leverage ratio		1.20	1.23	1.23	1.24	1.26	1.27	1.28	1.28	1.31	1.32	1.33	1.35	1.36	1.34	1.36	1.37	1.41	1.47	1.52	1.61

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $7,167,000K ÷ $5,984,800K
= 1.20

The financial leverage ratio of United Therapeutics Corp has exhibited a slight declining trend over the past few quarters, decreasing from 1.26 in Q4 2022 to 1.20 in Q4 2023. This indicates that the company's reliance on debt financing relative to equity has decreased over this period. The ratio has hovered around the range of 1.20 to 1.28 in the past eight quarters, suggesting a relatively stable capital structure with a moderate level of leverage. Overall, the company appears to maintain a balanced mix of debt and equity in its capital structure to support its operations and growth initiatives.