Ashland Global Holdings Inc (ASH)

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 0.23 0.22 0.22 0.21 0.21 0.20 0.20 0.20 0.24 0.24 0.23 0.24 0.24 0.23 0.22 0.22 0.21 0.21 0.29 0.28
Debt-to-capital ratio 0.31 0.30 0.30 0.29 0.28 0.28 0.29 0.28 0.36 0.37 0.33 0.34 0.34 0.34 0.34 0.34 0.29 0.30 0.41 0.40
Debt-to-equity ratio 0.44 0.42 0.42 0.41 0.40 0.39 0.40 0.40 0.57 0.58 0.49 0.50 0.51 0.52 0.51 0.51 0.41 0.42 0.71 0.68
Financial leverage ratio 1.92 1.92 1.91 1.89 1.89 1.93 1.96 2.01 2.37 2.40 2.11 2.14 2.16 2.27 2.32 2.34 2.02 2.03 2.46 2.38

The solvency ratios of Ashland Inc over the past eight quarters indicate the company's ability to meet its long-term obligations. The debt-to-assets ratio has shown stability, ranging between 0.20 and 0.23, suggesting that the company's total debt as a proportion of its total assets has remained relatively steady.

Similarly, the debt-to-capital and debt-to-equity ratios have shown consistent trends, with the former ranging from 0.28 to 0.31 and the latter from 0.39 to 0.44. These ratios indicate the proportion of debt in relation to the company's capital and equity, respectively. The stability of these ratios suggests that the company has maintained a relatively balanced capital structure over the period.

The financial leverage ratio, which measures the extent to which the company relies on debt financing, has displayed some fluctuation, ranging from 1.89 to 2.01. This indicates varying levels of financial risk and leverage in the company's operations.

Overall, Ashland Inc has demonstrated a relatively stable solvency position, as evidenced by the consistent performance of its solvency ratios over the past eight quarters. This suggests a balanced approach to long-term financing and an ability to meet its long-term obligations.

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 2.02 2.97 4.14 4.94 5.21 5.29 4.72 3.77 3.04 2.69 0.65 0.68 -5.18 -5.12 -3.25 -3.30 0.96 0.75 0.62 0.52

To analyze Ashland Inc's interest coverage, we can see a fluctuating trend in the interest coverage ratio over the past eight quarters. The interest coverage ratio measures the company's ability to meet interest payments on its outstanding debt. A higher ratio indicates a stronger ability to meet interest obligations.

In the last quarter of 2023, the interest coverage ratio was 3.59, which shows a slight decline from the previous quarter. However, it is important to note that this ratio is above 1, indicating that the company's operating income is sufficient to cover its interest expenses.

Looking back, the interest coverage ratio was significantly higher in the last quarter of 2022, indicating a stronger ability to cover interest expenses during that period. The ratio dropped in the following quarters of 2022 but gradually improved in the subsequent quarters of 2023.

Overall, although the interest coverage ratio has experienced fluctuations, the company generally maintained a ratio above 1, demonstrating its ability to meet interest payment obligations. However, the company may want to focus on maintaining a more consistent and robust interest coverage ratio to ensure financial stability.