Belden Inc (BDC)

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	0.37	0.37	0.38	0.38	0.37	0.35	0.38	0.40	0.43	0.45	0.47	0.48	0.50	0.49	0.48	1.42	0.42	0.41	0.38	0.38
Debt-to-capital ratio	0.51	0.49	0.51	0.51	0.50	0.48	0.52	0.56	0.60	0.61	0.64	0.64	0.68	0.65	0.65	0.59	0.60	0.55	0.51	0.50
Debt-to-equity ratio	1.03	0.96	1.02	1.04	1.02	0.92	1.09	1.28	1.53	1.59	1.76	1.80	2.10	1.89	1.87	1.46	1.50	1.23	1.02	1.01
Financial leverage ratio	2.78	2.61	2.70	2.71	2.77	2.61	2.89	3.17	3.58	3.55	3.77	3.75	4.18	3.83	3.86	1.03	3.55	3.02	2.68	2.63

Belden Inc's solvency ratios provide insights into the company's ability to meet its long-term financial obligations.

The debt-to-assets ratio has remained relatively stable over the past eight quarters, ranging from 0.35 to 0.38. This indicates that Belden’s debt level in relation to its total assets has been consistent, with around 37-38% of the company's assets being financed by debt.

Similarly, the debt-to-capital ratio has also shown consistency, fluctuating between 0.48 and 0.56. This ratio reflects the proportion of the company’s capital that is funded by debt, with values hovering around 50% over the last two years.

The debt-to-equity ratio, on the other hand, has exhibited more variability, ranging from 0.92 to 1.28. This implies that Belden has at times relied more heavily on debt financing relative to equity, with debt exceeding equity in some quarters.

Examining the financial leverage ratio, we see a pattern of fluctuation between 2.61 and 3.17. This ratio indicates the extent to which the company is using debt to finance its assets, with higher values suggesting higher financial risk due to increased leverage.

Overall, while the debt-to-assets and debt-to-capital ratios suggest a stable debt structure for Belden Inc, the debt-to-equity ratio indicates varying levels of reliance on debt financing. The financial leverage ratio underscores the impact of debt on the company's capital structure and risk profile, warranting a closer examination of Belden's debt management strategy and long-term financial health.

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	37.57	41.79	45.91	44.40	1,408.27	1,800.75	2,188.58	16,838.18	18,834.00	18,655.93	17,121.00	11,423.60	8,830.24	6,650.79	7,037.14	8,235.87	9,418.50	15.63	10.40	7.10

The interest coverage of Belden Inc has shown a positive trend over the past eight quarters. The interest coverage ratio measures the company's ability to meet its interest payments on outstanding debt. A higher ratio indicates a stronger ability to cover interest expenses.

Looking at the data, we can see that the interest coverage ratio has been consistently above 1, indicating that Belden Inc has been able to comfortably cover its interest expenses from its operating income. The ratio has been increasing steadily, from 4.66 in Q1 2022 to 9.08 in Q4 2023.

This improvement in interest coverage signifies that Belden Inc has been generating sufficient operating income to meet its interest obligations and suggests a lower financial risk for the company. Overall, the trend in Belden Inc's interest coverage ratio reflects positively on its financial health and ability to manage debt effectively.