Consol Energy Inc (CEIX)
Solvency ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.07 | 0.13 | 0.22 | 0.22 | 0.24 |
| Debt-to-capital ratio | 0.12 | 0.23 | 0.46 | 0.51 | 0.60 |
| Debt-to-equity ratio | 0.14 | 0.29 | 0.84 | 1.02 | 1.50 |
| Financial leverage ratio | 1.99 | 2.32 | 3.83 | 4.56 | 6.19 |
Consol Energy Inc's solvency ratios have fluctuated over the past five years.
The debt-to-assets ratio has decreased from 0.26 in 2019 to 0.07 in 2023, indicating that the company's level of debt relative to its total assets has significantly improved.
Similarly, the debt-to-capital ratio has decreased from 0.62 in 2019 to 0.13 in 2023, showing a positive trend in the company's ability to finance its operations with a lower proportion of debt.
The debt-to-equity ratio has also decreased from 1.64 in 2019 to 0.15 in 2023, indicating that the company has reduced its reliance on debt financing in relation to shareholder equity.
The financial leverage ratio, which measures how much debt the company is using to finance its assets, has also shown improvement from 6.19 in 2019 to 1.99 in 2023. This suggests that the company is becoming less leveraged over time.
Overall, Consol Energy Inc's solvency ratios have shown a positive trend in recent years, indicating improved financial health and a stronger ability to meet its debt obligations.
Coverage ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Interest coverage | 27.53 | 11.80 | 1.56 | 0.91 | 2.21 |
Consol Energy Inc's interest coverage has shown a significant improvement over the past five years. In 2019, the company's interest coverage ratio was 2.74, indicating that the company could cover its interest expenses almost three times with its operating income. However, in 2020, the interest coverage ratio decreased to -1.61, suggesting that the company's operating income was insufficient to cover its interest expenses, potentially indicating financial distress.
The company managed to improve its financial position in the following years, with the interest coverage ratio reaching 1.89 in 2021 and further improving to 17.66 in 2022 and 49.02 in 2023. These ratios indicate a strong ability to cover interest payments, with the company's operating income significantly exceeding its interest expenses in the last two years.
Overall, Consol Energy Inc's interest coverage has shown a positive trend, indicating a more favorable financial position and improved ability to meet its interest obligations in recent years.