Axcelis Technologies Inc (ACLS)
Solvency ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financial leverage ratio | 1.48 | 1.52 | 1.40 | 1.30 | 1.31 |
The solvency ratios of Axcelis Technologies Inc indicate a consistent and favorable trend over the past five years. The debt-to-assets ratio has decreased from 0.09 in 2019 to 0.04 in 2023, suggesting that the company has reduced its reliance on debt financing in relation to its total assets. This indicates a stronger financial position and lower risk of insolvency.
Similarly, the debt-to-capital ratio and debt-to-equity ratio have shown a declining trend, from 0.10 and 0.12 in 2019 to 0.05 and 0.05 in 2023, respectively. These ratios reflect the proportion of debt in the company's capital structure and equity, with lower ratios indicating a lower financial risk and greater ability to meet obligations.
The financial leverage ratio, which measures the company's use of debt in relation to equity, also decreased from 1.31 in 2019 to 1.48 in 2023. This suggests that Axcelis Technologies Inc has been conservative in its use of leverage, maintaining a healthy balance between debt and equity to support its operations and growth.
Overall, the consistent decline in solvency ratios over the five-year period reflects Axcelis Technologies Inc's prudent financial management, improved financial stability, and reduced risk of financial distress. This indicates a strong solvency position and capacity to meet its debt obligations in the long term.
Coverage ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Interest coverage | 49.71 | 38.08 | 26.33 | 11.14 | 4.70 |
The interest coverage ratio for Axcelis Technologies Inc has shown a fluctuating trend over the past five years. In 2019, the interest coverage ratio was 11.00, indicating the company's ability to cover its interest expenses was at a moderate level. This ratio improved significantly in 2020 to 12.98, suggesting a stronger ability to cover interest payments. Subsequently, in 2021, the interest coverage ratio further increased to 27.52, reflecting a substantial improvement in the company's ability to meet its interest obligations.
The interest coverage ratio peaked in 2022 at 207.18, signaling a significant enhancement in Axcelis Technologies Inc's capacity to cover its interest expenses, potentially due to increased operating income or a decrease in interest charges. However, the lack of data for 2023 prevents a direct comparison to assess the recent performance of the interest coverage ratio.
Overall, the trend in Axcelis Technologies Inc's interest coverage ratio indicates an improvement in the company's ability to meet its interest obligations over the past five years, with notable fluctuations in the ratio reflecting varying levels of financial health and efficiency in managing debt.