Name: Debt to Equity

Definition: Debt to equity shows how much debt the company uses compared to the amount invested by its owners. It’s a bit like comparing your mortgage to your house down payment. Higher ratios suggest the business is comfortable borrowing to grow — which can boost returns in good times, but adds risk if conditions worsen. Lower ratios signal a more conservative, steady approach.

Interpretation:
• In '2021', ANNX's debt to equity was 0.15, showing the balance between debt financing and shareholders' equity. Industry average for Biotechnology: Pharmaceutical Preparations in '2021' stood at 0.28.
• In '2022', ANNX's debt to equity was 0.14, showing the balance between debt financing and shareholders' equity. The decrease since '2021' reflects improving financial health. Industry average for Biotechnology: Pharmaceutical Preparations in '2022' stood at 0.28. Industry average declined by 0.01 from previous year.
• In '2023', ANNX's debt to equity was 0.13, showing the balance between debt financing and shareholders' equity. The decrease since '2022' reflects improving financial health. Industry average for Biotechnology: Pharmaceutical Preparations in '2023' stood at 0.16. Industry average declined by 0.12 from previous year.
• In '2024', ANNX's debt to equity was 0.10, showing the balance between debt financing and shareholders' equity. The decrease since '2023' reflects improving financial health. Industry average for Biotechnology: Pharmaceutical Preparations in '2024' stood at 0.26. Industry average increased by 0.10 compared to previous year.
Overall, ANNX's debt to equity has been volatile but showed a downward trend over the past 4 years.

Formula: Debt to Equity = Total Debt / Shareholders' Equity

Good Range: Below 1.0 is conservative; 1-2 is common depending on industry.