Allegheny Technologies Incorporated (ATI)
Solvency ratios
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-capital ratio | 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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-equity ratio | 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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financial leverage ratio | 2.83 | 2.83 | 3.63 | 3.78 | 3.63 | 3.82 | 3.71 | 3.91 | 4.25 | 5.27 | 5.54 | 6.43 | 6.25 | 8.55 | 8.40 | 8.43 | 7.74 | 2.92 | 2.98 | 2.78 |
Allegheny Technologies Incorporated has consistently shown a strong solvency position based on its solvency ratios. The Debt-to-assets ratio, Debt-to-capital ratio, and Debt-to-equity ratio have all been recorded as 0.00 across multiple periods, indicating that the company has minimal debt in relation to its total assets, capital, and equity.
The Financial leverage ratio, which measures the company's financial risk and the extent to which it relies on debt financing, initially experienced some fluctuations in the early periods. However, there has been a noticeable downward trend in this ratio over time, with a significant decrease from 8.55 in September 2021 to 2.83 by the end of December 2024. This indicates a decreasing reliance on debt and an improving financial leverage position for Allegheny Technologies.
Overall, the solvency ratios reflect a financially stable and well-capitalized company with minimal debt levels relative to its assets and equity. The decreasing trend in the financial leverage ratio also suggests a more conservative approach to debt management, which is positive for the long-term financial health of the company.
Coverage ratios
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 4.88 | 3.83 | 3.65 | 3.61 | 3.86 | 6.97 | 7.18 | 5.66 | 5.16 | 1.95 | 1.67 | 1.57 | 0.92 | -10.46 | -11.55 | -14.83 | -14.64 | -1.93 | -0.89 | 3.50 |
The interest coverage ratio for Allegheny Technologies Incorporated has fluctuated significantly over the provided periods. The interest coverage ratio is calculated by dividing earnings before interest and taxes (EBIT) by the company's interest expenses.
From March 31, 2020, to June 30, 2021, the company experienced negative interest coverage ratios, indicating that Allegheny Technologies Incorporated was not generating enough operating income to cover its interest expenses during these periods. Negative interest coverage ratios can be a cause for concern as it suggests the company may have difficulty meeting its interest obligations.
However, from December 31, 2021, to June 30, 2024, the interest coverage ratio improved gradually, indicating the company's ability to cover its interest obligations through its operating income. The ratio increased from 0.92 on December 31, 2021, to 4.88 on December 31, 2024.
Overall, the trend in interest coverage shows improvement in recent periods, suggesting that Allegheny Technologies Incorporated has been able to enhance its ability to meet interest payments with its operating earnings. It is essential for investors and stakeholders to monitor the company's interest coverage ratio continuously to assess its financial health and ability to service its debt obligations.