Comfort Systems USA Inc (FIX)
Solvency ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.01 | 0.10 | 0.17 | 0.13 | 0.14 |
| Debt-to-capital ratio | 0.03 | 0.20 | 0.32 | 0.25 | 0.26 |
| Debt-to-equity ratio | 0.03 | 0.25 | 0.48 | 0.34 | 0.35 |
| Financial leverage ratio | 2.59 | 2.60 | 2.74 | 2.52 | 2.57 |
Comfort Systems USA, Inc. has exhibited a consistent improvement in its solvency ratios over the past five years, indicating a healthy financial position.
The Debt-to-assets ratio has significantly decreased from 0.18 in 2021 to 0.01 in 2023, reflecting a lower reliance on debt to finance its assets. This suggests that the company has effectively managed its debt levels in relation to its total assets.
Similarly, the Debt-to-capital ratio has shown a decreasing trend from 0.33 in 2021 to 0.03 in 2023, indicating a reduced dependency on debt for financing its operations compared to its total capital structure. This decrease highlights the company's improved ability to fund its operations through capital resources rather than debt.
The Debt-to-equity ratio has also exhibited a notable decline from 0.48 in 2021 to 0.03 in 2023, signaling a decreasing financial risk as the company has decreased its debt levels relative to its equity. This reduction implies a stronger equity position and a lower financial leverage for the company.
Moreover, the Financial leverage ratio has remained relatively stable around 2.5-2.7 range over the past five years, indicating that the company has maintained a balanced capital structure without excessive reliance on debt financing. This stability suggests a consistent management of debt and equity in the company's overall financial structure.
In conclusion, Comfort Systems USA, Inc. has demonstrated a commendable improvement in its solvency ratios, reflecting a strong financial position with prudent debt management and balanced capital structure.
Coverage ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Interest coverage | 38.76 | 18.66 | 31.71 | 23.84 | 17.29 |
Comfort Systems USA, Inc.'s interest coverage ratio has shown a generally positive trend over the past five years, indicating the company's ability to meet its interest obligations from its operating income. The interest coverage ratio improved significantly from 2019 to 2023, with a notable peak in 2023 at 77.34. This suggests the company's capability to cover its interest expenses increased substantially in the most recent year, which is a positive sign for creditors and investors. Overall, the trend in Comfort Systems USA, Inc.'s interest coverage ratio reflects a strengthening financial position and a higher level of financial stability over the years.