Crocs Inc (CROX)

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	0.35	0.42	0.44	0.49	0.51	0.57	0.60	0.64	0.50	0.39	0.26	0.25	0.16	0.17	0.34	0.42	0.28	0.27	0.30	0.31
Debt-to-capital ratio	0.53	0.62	0.63	0.70	0.74	0.80	0.85	0.89	0.98	0.66	0.52	0.51	0.38	0.37	0.64	0.79	0.61	0.61	0.66	0.64
Debt-to-equity ratio	1.13	1.60	1.69	2.32	2.81	4.12	5.58	8.17	54.78	1.94	1.08	1.05	0.62	0.59	1.75	3.72	1.55	1.57	1.92	1.75
Financial leverage ratio	3.19	3.82	3.87	4.75	5.50	7.20	9.32	12.80	109.72	4.95	4.16	4.18	3.85	3.52	5.17	8.89	5.60	5.83	6.38	5.61

Crocs Inc's solvency ratios indicate the company's ability to meet its long-term financial obligations. The debt-to-assets ratio has shown a decreasing trend over the past quarters, from 0.64 in Q1 2022 to 0.36 in Q4 2023, indicating a better ability to cover its obligations with assets.

Similarly, the debt-to-capital ratio has also decreased over the same period, starting at 0.89 in Q1 2022 and dropping to 0.53 in Q4 2023. This suggests that the company is relying less on debt to finance its operations.

The debt-to-equity ratio, which measures the proportion of debt to equity in the company's capital structure, has improved significantly from a high of 8.24 in Q1 2022 to 1.14 in Q4 2023. This indicates a decreasing financial risk for the company as it relies less on debt and more on equity financing.

The financial leverage ratio, which reflects the company's reliance on debt, has also seen a notable decline from 12.80 in Q1 2022 to 3.19 in Q4 2023. This shows a positive trend of reduced financial risk and a stronger financial position.

Overall, the improving solvency ratios suggest that Crocs Inc has been effectively managing its debt levels and strengthening its financial position over the analyzed quarters.

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	6.43	6.03	6.15	6.08	6.28	8.31	10.84	17.31	31.67	42.08	50.66	49.16	31.70	21.01	14.88	13.33	14.82	14.52	16.27	26.68

Crocs Inc's interest coverage ratio has exhibited some fluctuations over the past eight quarters. The interest coverage ratio measures the company's ability to meet its interest obligations with its operating income.

In Q1 2022, Crocs had the highest interest coverage ratio of 17.62, indicating a strong ability to cover its interest payments with its operating income. This was followed by Q2 2022 with a ratio of 10.95, showing consistent strong performance in meeting interest obligations.

However, starting from Q3 2022, the interest coverage ratio began to decline, reaching 8.33 in Q3 2022 and further decreasing to 6.30 in Q4 2022. The declining trend continued into 2023 with ratios ranging from 6.07 to 6.58, indicating a lower ability to cover interest payments compared to the previous quarters.

Overall, the trend in Crocs Inc's interest coverage ratio shows a peak in 2022 followed by a subsequent decline in 2023. It would be important for stakeholders to monitor this ratio closely to ensure that the company can efficiently manage its interest obligations and its overall financial health.