Cavco Industries Inc (CVCO)
Solvency ratios
| 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 | Sep 30, 2019 | Jun 30, 2019 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.03 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.03 | 0.03 |
| Financial leverage ratio | 1.31 | 1.32 | 1.34 | 1.32 | 1.34 | 1.32 | 1.36 | 1.39 | 1.39 | 1.38 | 1.44 | 1.39 | 1.39 | 1.37 | 1.38 | 1.34 | 1.33 | 1.32 | 1.35 | 1.37 |
Cavco Industries Inc has consistently maintained low solvency ratios, indicating a strong financial position with minimal reliance on debt financing. The debt-to-assets, debt-to-capital, and debt-to-equity ratios have all remained at very low levels, hovering around 0.00 to 0.03 over the past few quarters. This signifies that the company's assets are primarily funded through equity rather than debt.
The financial leverage ratio has also been relatively stable, averaging around 1.34 to 1.39 during the observed periods. This ratio indicates the extent to which the company is using debt to finance its assets. A lower financial leverage ratio suggests a lower level of financial risk.
Overall, the solvency ratios of Cavco Industries Inc reflect a conservative capital structure and a healthy balance sheet, highlighting the company's ability to meet its obligations without overreliance on debt financing.
Coverage ratios
| 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 | Sep 30, 2019 | Jun 30, 2019 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 121.73 | 129.93 | 238.52 | 284.63 | 337.79 | 431.36 | 411.79 | 366.79 | 302.92 | 232.47 | 196.89 | 157.81 | 132.32 | 104.06 | 73.60 | 73.45 | 63.19 | 56.90 | 43.10 | 31.39 |
The interest coverage ratio for Cavco Industries Inc has shown a consistently positive trend over the past several quarters. The ratio has been well above 1 in all periods, indicating that the company's operating income is more than sufficient to cover its interest expenses.
The ratio has been increasing steadily over time, reaching a peak of 431.36 in December 2022 before gradually declining to 121.73 in March 2024. Despite the slight decrease in the most recent period, the company's ability to cover interest payments remains strong and stable.
Overall, the high and improving interest coverage ratios suggest that Cavco Industries Inc is effectively managing its debt obligations and generating healthy levels of operating income to meet its financial commitments.