Ameren Corp (AEE)

Solvency ratios

	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
Debt-to-assets ratio	0.37	0.35	0.37	0.37	0.36	0.36	0.35	0.35	0.35	0.36	0.37	0.35	0.35	0.33	0.34	0.32	0.31	0.30	0.29	0.30
Debt-to-capital ratio	0.57	0.56	0.57	0.57	0.57	0.57	0.57	0.56	0.56	0.56	0.57	0.56	0.55	0.55	0.55	0.54	0.53	0.52	0.51	0.52
Debt-to-equity ratio	1.33	1.25	1.34	1.34	1.30	1.33	1.31	1.28	1.30	1.28	1.34	1.26	1.24	1.20	1.24	1.16	1.11	1.07	1.06	1.07
Financial leverage ratio	3.60	3.59	3.64	3.59	3.61	3.69	3.76	3.69	3.68	3.58	3.63	3.58	3.58	3.59	3.65	3.62	3.59	3.54	3.61	3.57

Ameren Corp.'s solvency ratios indicate its ability to meet its long-term debt obligations. The debt-to-assets ratio has been relatively stable around 0.40-0.41 over the past eight quarters, suggesting that Ameren has been able to effectively manage its debt in relation to its total assets.

The debt-to-capital ratio, which measures the proportion of debt in Ameren's capital structure, has also shown consistency around 0.59-0.60, indicating a balanced mix of debt and equity financing.

The debt-to-equity ratio, reflecting the extent of Ameren's reliance on debt to finance its operations, has fluctuated between 1.44 and 1.50, with the most recent quarter showing a slightly higher ratio. This suggests that Ameren's reliance on debt has increased, which could potentially pose higher financial risks.

The financial leverage ratio, which indicates the extent of Ameren's financial leverage, has varied between 3.59 and 3.76. Generally, the trend indicates that Ameren has been operating with a level of financial leverage that is within industry norms.

Overall, Ameren Corp. appears to have maintained a reasonable level of solvency over the past quarters, with stable debt-to-assets and debt-to-capital ratios. However, the slight increase in the debt-to-equity ratio may warrant further monitoring to ensure that the company's financial risk remains manageable.

Coverage ratios

	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
Interest coverage	2.75	2.89	3.01	3.02	3.12	3.20	3.29	3.48	3.48	3.38	3.16	3.23	3.10	3.15	3.34	3.24	3.33	3.22	3.22	3.46

Ameren Corp.'s interest coverage ratio has been showing a decreasing trend over the past eight quarters. The interest coverage ratio measures a company's ability to cover its interest expenses with its operating income. In Q4 2023, the interest coverage ratio stood at 2.75, indicating that Ameren's operating income was sufficient to cover its interest expenses 2.75 times.

Although the ratio has been gradually declining since Q1 2022 when it was at 3.76, it remains above 1, which generally indicates that the company is generating enough operating income to cover its interest payments. However, a declining trend in interest coverage could potentially signal increased financial risk, as it may indicate a decrease in profitability or an increase in interest expenses relative to operating income.

Further analysis of Ameren Corp.'s financial statements and trends in operating income and interest expenses would be necessary to fully assess the implications of the decreasing interest coverage ratio and its impact on the company's financial health and risk profile.