AptarGroup Inc (ATR)

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	0.13	0.12	0.18	0.19	0.21	0.22	0.28	0.27	0.22	0.22	0.27	0.28	0.28	0.28	0.29	0.26	0.31	0.32	0.31	0.32
Debt-to-capital ratio	0.21	0.19	0.27	0.28	0.30	0.32	0.38	0.38	0.31	0.31	0.36	0.37	0.37	0.38	0.40	0.39	0.41	0.41	0.41	0.43
Debt-to-equity ratio	0.26	0.24	0.37	0.39	0.42	0.48	0.62	0.61	0.46	0.46	0.55	0.58	0.59	0.63	0.67	0.63	0.70	0.71	0.70	0.75
Financial leverage ratio	1.93	1.95	2.00	2.04	2.05	2.15	2.20	2.22	2.10	2.11	2.07	2.10	2.16	2.19	2.32	2.38	2.27	2.23	2.27	2.33

Aptargroup Inc.'s solvency ratios indicate the company's ability to meet its long-term financial obligations and sustain operations over time. The debt-to-assets ratio has been relatively stable over the quarters, ranging between 0.26 to 0.33, suggesting that approximately 26% to 33% of the company's assets are financed by debt.

The debt-to-capital ratio, which measures the proportion of debt in the company's capital structure, has also been steady, ranging from 0.33 to 0.42. This ratio indicates that between 33% and 42% of the company's capital is in the form of debt.

The debt-to-equity ratio has shown an increasing trend, starting from 0.49 in Q4 2022 and rising to 0.72 in Q1 2022. This indicates that the company's reliance on debt financing compared to equity has been increasing, with more than half of the total equity being financed by debt in recent quarters.

The financial leverage ratio, which reveals the company's financial leverage or the extent to which it utilizes debt, has also been on the rise, reaching a peak of 2.22 in Q1 2022. This suggests that the company is increasingly relying on debt to finance its operations, and a higher ratio indicates higher financial risk due to increased leverage.

Overall, while the debt-to-assets and debt-to-capital ratios have remained relatively stable, the increasing trend in the debt-to-equity ratio and financial leverage ratio indicate a higher reliance on debt financing, which may raise concerns about the company's financial risk and ability to service its debt obligations in the long run.

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	10.28	10.18	9.60	8.63	9.19	9.90	9.83	10.68	11.64	11.55	11.99	11.07	10.15	9.58	9.34	10.47	10.47	10.17	9.38	8.74

The interest coverage ratio of Aptargroup Inc. has been consistently healthy over the past eight quarters, ranging from 9.83 to 13.18. This indicates that the company's earnings before interest and taxes (EBIT) are significantly higher than its interest expenses, reflecting its ability to comfortably meet its interest payment obligations. The trend shows a slight fluctuation in the interest coverage ratio, but overall, Aptargroup Inc. has maintained a strong financial position with ample earnings to cover its interest expenses. Investors and creditors may view this as a positive indicator of the company's financial stability and ability to service its debt effectively.