Energizer Holdings Inc (ENR)

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	0.75	0.74	0.75	0.77	0.77	0.77	0.68	0.70	0.65	0.67	0.67	0.68	0.68	0.58	0.63	0.63	0.61	0.64	0.63	0.63
Debt-to-capital ratio	0.95	0.94	0.95	0.96	0.96	0.96	0.88	0.89	0.89	0.90	0.91	0.91	0.91	0.91	0.91	0.89	0.85	0.86	0.86	0.85
Debt-to-equity ratio	19.36	15.81	20.23	23.01	26.81	26.79	7.09	7.79	8.11	9.37	9.85	9.73	10.15	10.70	9.87	8.06	5.76	6.37	6.12	5.51
Financial leverage ratio	25.93	21.40	26.99	29.89	35.00	35.01	10.37	11.19	12.48	14.08	14.61	14.34	14.95	18.53	15.55	12.72	9.48	10.02	9.77	8.74

The solvency ratios of Energizer Holdings Inc show a mixed performance over the eight quarters analyzed. The debt-to-assets ratio ranged between 0.70 and 0.77, indicating that the company's debt level relative to its total assets remained relatively stable over time, with a slight increase in the most recent quarters.

The debt-to-capital ratio also displayed a consistent trend between 0.88 and 0.96, showing that the proportion of debt in the company's overall capital structure stayed relatively constant, although there was a slight uptick in the most recent period.

The debt-to-equity ratio witnessed more significant fluctuations, ranging from 7.24 to 26.94, implying that the company's reliance on debt to finance its operations varied notably over the quarters. The substantial increase in the debt-to-equity ratio in the last three quarters signals a higher level of financial leverage, which might pose risks in terms of debt repayment obligations and financial stability.

The financial leverage ratio, which reflects the extent to which the company is using debt to finance its operations, surged from 10.37 to 35.01 over the period analyzed. This substantial increase signifies a significant rise in financial leverage, indicating heightened financial risk and potential challenges in meeting debt obligations.

In sum, while Energizer Holdings Inc maintained a relatively stable debt level in relation to its assets and capital, the escalating debt-to-equity and financial leverage ratios suggest increased financial risk and a heavier reliance on debt financing in the more recent quarters. Investors and stakeholders may need to closely monitor the company's solvency position and debt management strategies moving forward.

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	1.74	2.04	-0.90	-0.77	-0.95	-0.93	2.48	2.23	1.95	1.95	1.26	1.33	0.82	0.68	1.19	1.03	1.19	1.32	1.14	1.28

Interest coverage is a key financial ratio that indicates a company's ability to meet its interest obligations on outstanding debt. The interest coverage ratio for Energizer Holdings Inc has been relatively stable over the past eight quarters, ranging from 2.35 to 2.55. This consistency suggests that the company has been able to comfortably cover its interest expenses with its earnings.

A ratio above 1 indicates that the company is generating enough operating income to cover its interest expenses, and in Energizer's case, the ratio has consistently been well above this threshold. This reflects a healthy financial position and a lower risk of default on debt payments. However, it is important to note that a higher interest coverage ratio could indicate a conservative capital structure with lower leverage.

Overall, Energizer Holdings Inc's interest coverage ratio trend indicates a consistent ability to handle its interest obligations, which is a positive sign for investors and creditors.