Coca-Cola Consolidated Inc. (COKE)

Coca-Cola Consolidated Inc.'s solvency ratios displayed a positive trend over the years from 2019 to 2023, indicating improved financial health and lower reliance on debt. The debt-to-assets ratio decreased from 0.34 in 2019 to 0.14 in 2023, reflecting a stronger ability to cover its liabilities with assets. Similarly, the debt-to-capital ratio declined from 0.75 in 2019 to 0.30 in 2023, indicating a reduced reliance on debt as a source of financing.

Furthermore, the debt-to-equity ratio saw a significant improvement, declining from 3.05 in 2019 to 0.42 in 2023. This signifies that the company has become less leveraged and has a healthier balance between debt and equity in its capital structure. Additionally, the financial leverage ratio decreased from 9.01 in 2019 to 2.99 in 2023, reflecting a lower level of financial risk and a stronger equity position to support its operations.

Overall, the improving trend in solvency ratios for Coca-Cola Consolidated Inc. suggests a more stable financial position and a reduced exposure to financial risk over the years analyzed.

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Coverage ratios

The interest coverage ratio for Coca-Cola Consolidated Inc has shown a consistent upward trend over the past five years. The ratio increased from 3.93 in 2019 to 25.86 in 2022, indicating a significant improvement in the company's ability to cover its interest expenses with its operating income. This upward trend suggests that the company's profitability and financial health have been strengthening over the years, as higher interest coverage ratios are generally seen as a positive sign of a company's financial stability. The substantial increase in the interest coverage ratio from 2022 to 2023 further demonstrates the company's enhanced ability to meet its interest obligations comfortably. Overall, the trend in Coca-Cola Consolidated Inc's interest coverage ratio reflects prudent financial management and a healthier financial position.