ANI Pharmaceuticals Inc (ANIP)

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	0.31	0.32	0.33	0.37	0.38	0.39	0.38	0.38	0.37	0.40	0.39	0.36	0.37	0.38	0.38	0.39	0.38	0.14	0.15	0.15
Debt-to-capital ratio	0.40	0.40	0.41	0.48	0.48	0.48	0.48	0.47	0.46	0.49	0.50	0.45	0.47	0.47	0.48	0.48	0.45	0.23	0.24	0.25
Debt-to-equity ratio	0.66	0.66	0.70	0.91	0.91	0.92	0.92	0.89	0.86	0.97	0.99	0.83	0.88	0.90	0.93	0.93	0.83	0.30	0.32	0.33
Financial leverage ratio	2.09	2.07	2.10	2.43	2.42	2.37	2.41	2.32	2.31	2.46	2.50	2.28	2.36	2.37	2.43	2.40	2.15	2.14	2.15	2.18

The solvency ratios of ANI Pharmaceuticals Inc provide insights into the company's financial health and ability to meet its long-term financial obligations.

- Debt-to-assets ratio: This ratio indicates the proportion of the company's assets financed by debt. ANI Pharmaceuticals Inc has maintained a relatively stable debt-to-assets ratio around 0.32 to 0.37 in the past eight quarters, suggesting a moderate level of leverage.

- Debt-to-capital ratio: This ratio measures the percentage of capital structure financed by debt. ANI Pharmaceuticals Inc has consistently kept its debt-to-capital ratio between 0.39 to 0.46 over the same period, reflecting a reasonable balance between debt and equity.

- Debt-to-equity ratio: This ratio shows the extent to which the company is reliant on debt financing compared to equity. ANI Pharmaceuticals Inc's debt-to-equity ratio has ranged from 0.63 to 0.85 in the last eight quarters, indicating a moderate to high level of financial leverage.

- Financial leverage ratio: This ratio measures the company's total assets relative to equity. ANI Pharmaceuticals Inc has maintained its financial leverage ratio within the range of 1.96 to 2.25, suggesting that the company relies more on debt financing to generate returns for shareholders.

Overall, ANI Pharmaceuticals Inc appears to have a moderate to high level of leverage based on its solvency ratios, with a relatively stable trend in its debt ratios over the past two years. It is essential for investors and creditors to monitor these ratios closely to assess the company's ability to manage its debt and overall financial risk.

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	1.45	1.33	0.62	-0.21	-1.24	-2.42	-2.93	-3.85	-3.33	-1.58	-0.94	-0.52	-1.70	-2.13	-1.51	0.34	1.22	2.31	2.45	2.25

The interest coverage ratio of ANI Pharmaceuticals Inc has shown a fluctuating trend over the past eight quarters. The ratio measures the company's ability to pay its interest expenses on outstanding debt using its earnings.

In Q4 2023, the interest coverage ratio improved to 1.84, indicating that the company's earnings were 1.84 times higher than its interest expenses for that quarter. This was a positive sign as it shows the company had sufficient earnings to cover its interest obligations.

Prior to Q4 2023, the interest coverage ratio had been gradually increasing from 1.00 in Q2 2023 to 1.60 in Q3 2023. This improving trend suggested that the company's earnings were increasingly able to cover its interest expenses.

However, prior to Q2 2023, the interest coverage ratio had been quite low, reaching a low of -3.04 in Q1 2022. A negative interest coverage ratio indicates that the company's earnings were insufficient to cover its interest expenses, which is a concerning sign for investors and creditors.

Overall, the recent positive trend in the interest coverage ratio of ANI Pharmaceuticals Inc indicates an improvement in the company's ability to meet its interest obligations, but it is important to monitor future quarters to see if this positive trend continues.