Quest Diagnostics Incorporated (DGX)
Solvency ratios
| Dec 31, 2024 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financial leverage ratio | 2.38 | 2.36 | 2.10 | 2.17 | 2.22 | 2.10 | 2.15 | 2.11 | 2.18 | 2.12 | 2.08 | 2.11 | 2.11 | 2.12 | 2.18 | 2.07 | 2.08 | 2.21 | 2.23 | 2.13 |
Quest Diagnostics Incorporated has consistently shown a strong solvency position over the years. The company has maintained a Debt-to-assets ratio of 0.00 throughout the period, indicating that it has no significant debt relative to its total assets. This implies a conservative approach in funding its operations.
Similarly, the Debt-to-capital ratio has also remained at 0.00, indicating that the company's capital structure is not heavily reliant on debt financing. Quest Diagnostics has effectively managed its capital structure without incurring substantial debt burdens.
The Debt-to-equity ratio has also remained at 0.00, demonstrating that the company's equity base is robust and exceeds its debt levels. This signifies a healthy balance between debt and equity in the company's financial structure.
Lastly, the Financial leverage ratio, while showing some fluctuations over the years, has generally been at a reasonable level, ranging between 2.07 to 2.38. This ratio indicates the extent to which Quest Diagnostics is using debt to finance its assets relative to its equity. The upward trend in the financial leverage ratio towards the end of the period may suggest a slight increase in leverage, but it still remains within a manageable range.
Overall, based on the solvency ratios analyzed, Quest Diagnostics Incorporated appears to have a strong financial position with minimal debt levels and a prudent approach to capital structure management.
Coverage ratios
| Dec 31, 2024 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 6.20 | 6.77 | 7.38 | 7.80 | 8.51 | 7.80 | 8.53 | 8.61 | 9.73 | 12.42 | 14.05 | 17.17 | 18.22 | 19.67 | 19.82 | 15.96 | 12.58 | 9.78 | 6.81 | 6.73 |
Quest Diagnostics Incorporated has shown a relatively stable interest coverage ratio over the past few years, ranging from a low of 6.73 in March 2020 to a high of 19.82 in June 2021. This ratio measures the company's ability to cover its interest expenses with its operating income.
The company's interest coverage ratio peaked at 19.82 in June 2021, indicating a strong ability to meet its interest obligations from operating profits. However, since then, the ratio has gradually declined, reaching 6.20 by December 2024. This decreasing trend may raise concerns about the company's ability to comfortably cover its interest expenses in the future.
Overall, while Quest Diagnostics has maintained a reasonable interest coverage ratio throughout the period, investors and creditors should continue to monitor this ratio to ensure the company can meet its debt obligations effectively.