Fluor Corporation (FLR)
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 | 0.17 | 0.20 | 0.14 | 0.15 | 0.14 | 0.14 | 0.15 | 0.15 | 0.17 | 0.16 | 0.21 | 0.00 | 0.23 | 0.23 | 0.23 | 0.23 | 0.21 | 0.21 | 0.18 | 0.18 |
| Debt-to-capital ratio | 0.37 | 0.43 | 0.35 | 0.36 | 0.35 | 0.37 | 0.39 | 0.40 | 0.46 | 0.42 | 0.53 | 0.00 | 0.62 | 0.60 | 0.60 | 0.60 | 0.53 | 0.51 | 0.41 | 0.37 |
| Debt-to-equity ratio | 0.60 | 0.76 | 0.54 | 0.57 | 0.55 | 0.59 | 0.65 | 0.67 | 0.84 | 0.73 | 1.11 | 0.00 | 1.65 | 1.49 | 1.52 | 1.51 | 1.11 | 1.05 | 0.70 | 0.59 |
| Financial leverage ratio | 3.59 | 3.80 | 3.76 | 3.86 | 3.82 | 4.16 | 4.31 | 4.42 | 5.09 | 4.54 | 5.18 | 7.14 | 7.10 | 6.44 | 6.63 | 6.68 | 5.35 | 5.06 | 3.78 | 3.21 |
The solvency ratios of Fluor Corporation indicate the company's ability to meet its long-term financial obligations and the extent to which debt is used in its capital structure.
The debt-to-assets ratio has shown some fluctuations over the quarters but has generally remained relatively stable around 0.15 to 0.20. This ratio indicates that a significant portion of the company's assets are financed by debt, with a higher ratio suggesting higher financial risk.
The debt-to-capital ratio has also fluctuated but has mostly been within the range of 0.36 to 0.45. This ratio represents the proportion of total capital provided by debt, with a higher ratio indicating higher financial leverage.
The debt-to-equity ratio has displayed variability, ranging from 0.55 to 0.81. This ratio reflects the extent to which the company relies on debt financing versus equity, with a higher ratio indicating higher financial risk.
The financial leverage ratio has exhibited fluctuations between 3.59 to 4.42. This ratio emphasizes the company's reliance on debt to finance its operations, with a higher ratio suggesting higher financial risk and potential financial distress.
Overall, the solvency ratios of Fluor Corporation indicate varying levels of debt usage and financial leverage over the quarters, highlighting the importance of monitoring the company's ability to meet its debt obligations and maintain a stable capital structure.
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 | 7.34 | 7.82 | 4.02 | 3.73 | 6.37 | -0.19 | 0.41 | -2.07 | -3.68 | -1.64 | -2.65 | -1.17 | -4.72 | -8.30 | -12.73 | -19.94 | -15.03 | -7.43 | -2.56 | 4.78 |
Fluor Corporation's interest coverage ratio has not been provided for Q1 2023, Q2 2023, Q3 2023, and Q4 2023. However, looking at historical data, there has been a significant fluctuation in the interest coverage ratio over the past few quarters. In Q1 2022, the interest coverage ratio was 3.67, indicating that Fluor Corporation generated operating income 3.67 times greater than its interest expenses. This suggests a moderate ability to meet interest obligations.
The interest coverage ratio improved in Q2 2022 to 5.23, showcasing a stronger ability to cover interest expenses with operating income. This improvement continued into Q3 2022, with a substantial increase to 32.37, indicating a robust capability to cover interest expenses. However, the interest coverage ratio for Q4 2022 is not provided for comparison.
Given the fluctuations in the interest coverage ratio, it is essential for stakeholders to monitor this ratio closely in upcoming quarters to assess Fluor Corporation's ability to meet its interest obligations consistently.