Brunswick Corporation (BC)

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	0.32	0.32	0.39	0.38	0.38	0.39	0.41	0.41	0.33	0.35	0.20	0.23	0.24	0.27	0.28	0.27	0.30	0.30	0.31	0.29
Debt-to-capital ratio	0.49	0.49	0.54	0.54	0.54	0.55	0.55	0.56	0.48	0.49	0.32	0.35	0.38	0.41	0.44	0.45	0.45	0.43	0.45	0.45
Debt-to-equity ratio	0.95	0.95	1.15	1.17	1.18	1.21	1.25	1.26	0.93	0.97	0.47	0.55	0.60	0.69	0.78	0.82	0.82	0.76	0.81	0.82
Financial leverage ratio	2.98	2.92	2.99	3.05	3.10	3.06	3.08	3.08	2.83	2.80	2.34	2.40	2.50	2.53	2.74	3.00	2.74	2.58	2.63	2.84

Solvency ratios provide insight into a company's ability to meet its long-term obligations. Based on the data provided for Brunswick Corp., we can analyze the following solvency ratios:

1. Debt-to-assets ratio: This ratio measures the proportion of a company's assets financed through debt. Brunswick Corp.'s debt-to-assets ratio has been relatively stable around 0.40 over the past several quarters, indicating that 40% of its assets are funded by debt.

2. Debt-to-capital ratio: This ratio reflects the extent to which a company's operations are funded through debt versus equity. Brunswick Corp.'s debt-to-capital ratio has also remained steady around 0.54 to 0.56, implying that debt accounts for approximately 54% to 56% of the company's capital structure.

3. Debt-to-equity ratio: The debt-to-equity ratio compares a company's total debt to its shareholders' equity, highlighting the level of financial leverage. Brunswick Corp.'s debt-to-equity ratio has shown a slight upward trend, increasing from 1.16 in Q4 2023 to 1.26 in Q1 2022, indicating a higher reliance on debt financing compared to equity.

4. Financial leverage ratio: This ratio measures the extent to which a company uses debt to finance its assets. Brunswick Corp.'s financial leverage ratio has fluctuated between 2.92 and 3.10. A higher ratio suggests a higher level of financial risk due to greater reliance on debt to support operations and investments.

Overall, Brunswick Corp.'s solvency ratios demonstrate a consistent reliance on debt financing to support its operations and investments. The company's stable debt-to-assets and debt-to-capital ratios indicate a balanced capital structure, while the increasing trend in the debt-to-equity ratio suggests heightened financial leverage over time. Investors and stakeholders may monitor these ratios to assess Brunswick Corp.'s long-term financial stability and risk management strategies.

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	6.49	7.26	7.84	8.78	9.66	9.80	10.46	11.62	12.14	13.04	13.06	10.20	7.99	6.92	1.47	1.74	0.33	0.33	4.08	4.50

Based on the data provided for Brunswick Corp.'s interest coverage ratio over the last eight quarters, we observe a fluctuating trend. The interest coverage ratio has ranged from a low of 7.61 in Q4 2023 to a high of 12.19 in Q1 2022. This ratio indicates Brunswick Corp.'s ability to meet its interest obligations from its operating income.

The trend indicates a general improvement in Brunswick Corp.'s ability to cover its interest expenses in recent quarters. The company's interest coverage ratio has generally increased from Q4 2022 to Q1 2023 before experiencing a slight decline in the most recent quarter, Q4 2023.

An interest coverage ratio above 1 generally indicates that a company is generating more than enough operating income to cover its interest expenses. Brunswick Corp.'s interest coverage ratios have consistently been well above 1 during the analyzed period, which suggests that the company has had a comfortable margin of safety in meeting its interest obligations.

Overall, Brunswick Corp.'s interest coverage ratios demonstrate a relatively stable and healthy financial position in terms of its ability to cover interest expenses. However, it is important to continue monitoring this ratio to ensure that the company's financial health is sustained over the long term.