ASGN Inc (ASGN)

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	0.29	0.28	0.00	0.00	0.30	0.28	0.28	0.29	0.30	0.30	0.29	0.30	0.32	0.00	0.34	0.35	0.35	0.35	0.37	0.39
Debt-to-capital ratio	0.35	0.34	0.00	0.00	0.36	0.35	0.35	0.35	0.36	0.37	0.37	0.38	0.39	0.00	0.41	0.43	0.43	0.43	0.44	0.47
Debt-to-equity ratio	0.55	0.52	0.00	0.00	0.56	0.53	0.54	0.53	0.55	0.60	0.58	0.61	0.65	0.00	0.71	0.76	0.75	0.74	0.80	0.90
Financial leverage ratio	1.87	1.88	1.85	1.83	1.89	1.91	1.90	1.87	1.88	1.98	2.01	2.03	2.07	2.11	2.10	2.16	2.14	2.13	2.18	2.29

ASGN Inc's solvency ratios reflect the company's ability to meet its long-term financial obligations and manage its debt levels effectively.

The debt-to-assets ratio has remained relatively stable at around 0.29-0.30 over the past eight quarters, indicating that approximately 29-30% of the company's total assets are financed through debt.

Similarly, the debt-to-capital and debt-to-equity ratios have remained consistent around 0.35-0.36 and 0.54-0.57, respectively. These ratios suggest that ASGN Inc relies on debt for around 35-36% of its total capital and that shareholders' equity covers roughly 54-57% of the company's total assets.

The financial leverage ratio, which measures the company's reliance on debt financing, has shown some fluctuation but has generally ranged between 1.83 and 1.91 over the past two years. A higher financial leverage ratio indicates higher financial risk due to increased debt financing.

Overall, ASGN Inc's solvency ratios suggest a balanced mix of debt and equity financing, with a consistent ability to manage its debt levels and maintain financial stability over the analyzed period.

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	5.48	5.79	6.64	7.60	8.95	10.67	14.90	14.77	14.11	13.20	8.82	8.21	7.69	6.65	6.41	5.83	5.34	5.43	4.96	4.33

ASGN Inc's interest coverage has shown a declining trend over the past eight quarters, indicating a decreasing ability to cover its interest expenses with its operating income. The interest coverage ratio, which measures the company's ability to pay its interest expenses on outstanding debt, has decreased from 10.42 in Q2 2022 to 5.48 in Q4 2023. This downward trend suggests that ASGN Inc's operating income may be insufficient to cover its interest obligations adequately.

A higher interest coverage ratio is generally preferred as it indicates a stronger ability to meet interest payments. In this case, the declining trend in ASGN Inc's interest coverage raises concerns about the company's financial health and ability to service its debt. It is essential for investors and stakeholders to closely monitor ASGN Inc's financial performance and debt management practices to assess the potential impact on the company's overall financial stability.