Central Garden & Pet Company (CENT)

Solvency ratios

	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Debt-to-assets ratio	0.33	0.33	0.34	0.35	0.35	0.35	0.36	0.37	0.36	0.35	0.35	0.38	0.38	0.38	0.34	0.32	0.30	0.31	0.32	0.32
Debt-to-capital ratio	0.43	0.43	0.44	0.45	0.45	0.45	0.47	0.47	0.47	0.47	0.48	0.49	0.49	0.49	0.46	0.42	0.39	0.40	0.41	0.42
Debt-to-equity ratio	0.76	0.75	0.79	0.82	0.82	0.82	0.88	0.90	0.89	0.88	0.92	0.96	0.97	0.95	0.84	0.73	0.64	0.65	0.70	0.71
Financial leverage ratio	2.28	2.26	2.34	2.36	2.33	2.37	2.44	2.44	2.46	2.48	2.59	2.54	2.55	2.52	2.45	2.25	2.17	2.14	2.18	2.19

From the solvency ratios provided for Central Garden & Pet Company, we can observe the following trends:

1. Debt-to-assets ratio has remained relatively stable, hovering around 0.33 to 0.38 over the past few quarters. This indicates that the company's total debt as a percentage of its total assets has been consistent.

2. Debt-to-capital ratio has also shown stability, with values ranging from 0.43 to 0.49. This ratio reflects the proportion of the company's capital that is funded by debt, and the consistency suggests a balanced capital structure.

3. Debt-to-equity ratio has displayed some fluctuations, varying from 0.64 to 0.97. This ratio signifies the extent to which the company's operations are funded by debt versus equity. The fluctuations may indicate changes in the company's leverage and financial risk.

4. Financial leverage ratio has shown some variability, ranging from 2.14 to 2.59. This ratio highlights the company's financial risk and indicates the proportion of the company's assets that are financed by debt. The fluctuations in this ratio suggest changes in the company's overall leverage and potential impact on profitability.

Overall, Central Garden & Pet Company's solvency ratios demonstrate a mixed picture of stability and fluctuations in debt levels and leverage over the past few quarters, which may warrant further investigation into the company's financial health and risk management strategies.

Coverage ratios

	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Interest coverage	3.45	4.28	4.38	4.04	3.84	3.72	3.53	4.02	4.41	4.37	4.44	4.80	4.31	4.89	4.81	4.05	4.47	4.22	3.63	3.61

Central Garden & Pet Company has shown relatively consistent interest coverage ratios over the past few years. The interest coverage ratio measures the company's ability to cover its interest expenses with its operating income. A higher interest coverage ratio indicates a greater ability to meet interest obligations.

Looking at the trend for Central Garden & Pet Company, the interest coverage ratio has generally been above 3.5 over the past two years, indicating that the company has been able to comfortably cover its interest expenses. The ratios have also shown some variability, with fluctuations ranging from 3.45 to 4.89 over the period analyzed.

Overall, the trend suggests that Central Garden & Pet Company has been effectively managing its debt and interest obligations, with the ability to generate enough operating income to cover its interest expenses. A consistently healthy interest coverage ratio is a positive indicator of the company's financial health and ability to service its debt obligations.