AZZ Incorporated (AZZ)
Solvency ratios
| Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | May 31, 2019 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.43 | 0.44 | 0.45 | 0.47 | 0.48 | 0.46 | 0.48 | 0.57 | 0.20 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | 0.05 | 0.09 | 0.07 | 0.22 | 0.23 | 0.26 |
| Debt-to-capital ratio | 0.58 | 0.52 | 0.53 | 0.54 | 0.63 | 0.54 | 0.59 | 0.70 | 0.25 | 0.23 | 0.22 | 0.23 | 0.22 | 0.23 | 0.07 | 0.13 | 0.11 | 0.28 | 0.29 | 0.32 |
| Debt-to-equity ratio | 1.36 | 1.06 | 1.12 | 1.19 | 1.71 | 1.19 | 1.44 | 2.32 | 0.34 | 0.30 | 0.29 | 0.29 | 0.29 | 0.29 | 0.07 | 0.15 | 0.12 | 0.39 | 0.40 | 0.48 |
| Financial leverage ratio | 3.13 | 2.40 | 2.47 | 2.53 | 3.58 | 2.58 | 3.01 | 4.05 | 1.70 | 1.60 | 1.60 | 1.63 | 1.60 | 1.62 | 1.58 | 1.65 | 1.69 | 1.79 | 1.77 | 1.83 |
AZZ Incorporated's solvency ratios have shown fluctuations over the past few quarters. The debt-to-assets ratio has been varying between 0.43 to 0.48, indicating that the company has been financing its assets primarily through debt. The debt-to-capital ratio has also been fluctuating, ranging from 0.52 to 0.70, showing the proportion of debt in the company's capital structure.
The debt-to-equity ratio has shown significant variability, ranging from 1.06 to 2.32, reflecting the company's reliance on debt to finance its operations compared to equity. The financial leverage ratio has also been inconsistent, with values fluctuating between 2.40 to 4.05, highlighting the level of financial risk and leverage in the company's operations.
Overall, the solvency ratios indicate that AZZ Incorporated has been managing its debt levels and capital structure with some fluctuations. It is important for the company to monitor and maintain a healthy balance between debt and equity to ensure sustainable financial health.
Coverage ratios
| Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | May 31, 2019 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 1.82 | 2.03 | 1.54 | 0.80 | 0.65 | 0.85 | 1.94 | 9.70 | 17.66 | 14.56 | 13.26 | 9.28 | 6.38 | 3.28 | 3.47 | 4.85 | 5.82 | 7.20 | 6.17 | 5.74 |
AZZ Incorporated's interest coverage ratio has fluctuated over the periods analyzed, ranging from a low of 0.65 to a high of 17.66. The interest coverage ratio is a measure of a company's ability to meet its interest payments on outstanding debt. A higher ratio indicates that the company is more capable of meeting its interest obligations.
The trend in AZZ Incorporated's interest coverage ratio shows some volatility, with periods of both improvement and deterioration. In general, the ratio has been relatively healthy, with the lowest point at 0.65 indicating potential challenges in meeting interest payments, while the highest point at 17.66 suggests a significant ability to cover interest expenses.
It is important for AZZ Incorporated to maintain a reasonable interest coverage ratio to demonstrate financial stability and avoid potential issues with debt servicing. Further analysis would be needed to understand the factors driving the fluctuations in the interest coverage ratio and assess the company's overall financial health.