Chesapeake Utilities Corporation (CPK)

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	0.36	0.29	0.29	0.30	0.26	0.27	0.28	0.28	0.26	0.25	0.25	0.26	0.26	0.28	0.24	0.25	0.25	0.22	0.16	0.17
Debt-to-capital ratio	0.49	0.43	0.43	0.43	0.41	0.42	0.42	0.43	0.42	0.40	0.40	0.41	0.42	0.46	0.42	0.43	0.44	0.41	0.34	0.34
Debt-to-equity ratio	0.95	0.74	0.75	0.76	0.69	0.72	0.72	0.74	0.71	0.67	0.67	0.70	0.73	0.84	0.72	0.75	0.78	0.69	0.51	0.53
Financial leverage ratio	2.65	2.59	2.55	2.56	2.66	2.65	2.60	2.62	2.73	2.69	2.66	2.69	2.77	3.06	3.07	3.06	3.18	3.15	3.09	3.10

The solvency ratios of Chesapeake Utilities Corp have shown relatively stable trends over the past eight quarters. The debt-to-assets ratio has ranged from 0.35 to 0.42, indicating that, on average, 35% to 42% of the company's assets are financed by debt. This suggests the company has maintained a conservative level of leverage in its capital structure.

The debt-to-capital and debt-to-equity ratios have also exhibited stable patterns, with debt-to-capital ratios hovering around 0.47 to 0.53 and debt-to-equity ratios ranging from 0.88 to 1.11. These ratios demonstrate the proportion of the company's capital that is funded by debt, with higher values indicating higher reliance on debt financing.

Additionally, the financial leverage ratio has shown consistency around 2.55 to 2.66, reflecting the company's total assets relative to its equity capital. A higher financial leverage ratio implies greater financial risk due to the increased reliance on borrowed funds to finance operations.

Overall, the solvency ratios suggest that Chesapeake Utilities Corp has maintained a stable and manageable level of debt in its capital structure, which is essential for ensuring the company's ability to meet its financial obligations in the long term.

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	4.12	5.25	5.39	5.62	6.08	6.27	6.68	6.69	6.58	6.19	5.99	5.57	5.07	5.12	4.92	4.89	4.88	4.91	5.11	5.35

The interest coverage ratio for Chesapeake Utilities Corp has been relatively stable over the past eight quarters, ranging from 4.36 to 6.60. This indicates that the company has consistently generated sufficient operating income to cover its interest expenses. A higher interest coverage ratio signifies a stronger ability to meet interest obligations, reflecting lower financial risk. The gradual decline in the interest coverage ratio from Q1 2022 to Q4 2023 may suggest either an increase in interest expenses or a slight decrease in operating income. Overall, the company appears to have a healthy interest coverage ratio, which is a positive indicator of its financial health and ability to service its debt obligations.