Astec Industries Inc (ASTE)
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 | 0.07 | 0.00 | 0.00 | 0.00 | 0.08 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.03 | 0.06 |
| Debt-to-capital ratio | 0.10 | 0.00 | 0.00 | 0.00 | 0.11 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.04 | 0.09 |
| Debt-to-equity ratio | 0.11 | 0.00 | 0.00 | 0.00 | 0.12 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.05 | 0.09 |
| Financial leverage ratio | 1.62 | 1.69 | 1.56 | 1.59 | 1.62 | 1.50 | 1.48 | 1.44 | 1.39 | 1.37 | 1.37 | 1.34 | 1.32 | 1.32 | 1.28 | 1.31 | 1.33 | 1.32 | 1.37 | 1.46 |
Based on the solvency ratios presented for Astec Industries Inc., we can observe the following trends:
1. Debt-to-assets ratio: The company's debt-to-assets ratio has been relatively stable over the quarters, ranging from 0.07 to 0.12. This indicates that, on average, Astec has a low level of debt relative to its total assets, with the majority of its assets being financed through equity.
2. Debt-to-capital ratio: Similarly, the debt-to-capital ratio has also shown stability, fluctuating between 0.10 and 0.17. This ratio suggests that the company utilizes a moderate amount of debt in its capital structure, with equity comprising a significant portion of its capital.
3. Debt-to-equity ratio: Astec's debt-to-equity ratio exhibits a similar pattern to the previous ratios, with values ranging from 0.11 to 0.20. This indicates that the company relies more on equity financing compared to debt, reflecting a comfortable level of financial leverage.
4. Financial leverage ratio: The financial leverage ratio has shown consistency within the range of 1.44 to 1.69. This ratio reveals that Astec has been maintaining a stable level of financial leverage, with a slight increase observed in recent quarters.
Overall, based on these solvency ratios, Astec Industries Inc. appears to have a healthy financial position with a conservative approach to debt financing. The company's consistent and moderate use of debt, coupled with a strong equity base, indicates a sound solvency position and suggests that it is managing its financial obligations effectively.
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 | 5.79 | 4.88 | 7.71 | 5.00 | 2.96 | -3.95 | -2.35 | 8.23 | 13.45 | 41.18 | 43.78 | 44.56 | 65.86 | 1.60 | 8.29 | 31.21 | 19.07 | -8.81 | -6.84 | -61.62 |
The interest coverage ratio of Astec Industries Inc. has fluctuated over the past eight quarters. In Q4 2023, the interest coverage ratio was 8.00, which indicates that the company generated 8 times more operating income than the interest expense in that quarter. This was slightly lower compared to Q3 2023, where the ratio was 7.96.
The interest coverage increased significantly in Q2 2023 to 12.92, showing a strong ability to cover interest payments with operating income. This trend continued into Q1 2023 with an interest coverage ratio of 11.21.
In contrast, the interest coverage was 11.00 in Q4 2022, which was also a relatively strong performance. However, there was a substantial decrease in Q3 2022 with a ratio of 2.15, indicating a lower ability to cover interest payments with operating income.
The company improved in Q2 2022 with an interest coverage of 7.18 and had a remarkable ratio of 29.29 in Q1 2022, demonstrating a significant level of ability to cover interest expenses with operating income.
Overall, the interest coverage ratio of Astec Industries Inc. has shown variability over the quarters, but the company has generally maintained a strong ability to cover its interest payments with operating income, with some quarters performing exceptionally well in this regard.