Flowserve Corporation (FLS)

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	0.23	0.26	0.25	0.25	0.26	0.27	0.27	0.27	0.27	0.23	0.27	0.27	0.32	0.33	0.29	0.28	0.28	0.28	0.29	0.29
Debt-to-capital ratio	0.38	0.40	0.40	0.40	0.40	0.43	0.42	0.42	0.41	0.42	0.43	0.43	0.50	0.50	0.46	0.45	0.44	0.44	0.45	0.45
Debt-to-equity ratio	0.60	0.68	0.66	0.65	0.67	0.74	0.72	0.71	0.70	0.72	0.75	0.76	0.99	1.02	0.85	0.82	0.78	0.77	0.80	0.83
Financial leverage ratio	2.64	2.65	2.61	2.64	2.63	2.72	2.66	2.68	2.63	3.18	2.77	2.81	3.07	3.09	2.95	2.87	2.83	2.73	2.79	2.87

Flowserve Corp. has demonstrated consistency in maintaining moderate solvency levels over the past eight quarters. The Debt-to-assets ratio has fluctuated slightly around the 0.26 to 0.28 range, indicating that the company finances its assets through a relatively low proportion of debt.

Similarly, the Debt-to-capital ratio has remained relatively stable between 0.39 and 0.44, showcasing a consistent mix of debt and equity in the company's capital structure. The Debt-to-equity ratio has shown a similar trend, hovering between 0.64 and 0.77, suggesting a reasonable proportion of debt in relation to equity.

The Financial leverage ratio has also been stable, ranging from 2.61 to 2.72 over the past eight quarters. This ratio indicates that the company relies moderately on debt to finance its operations and investments, without becoming overly leveraged.

Overall, Flowserve Corp. appears to maintain a healthy balance between debt and equity in its capital structure, which is reflected in its solvency ratios remaining relatively steady over the quarters analyzed.

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	4.07	4.17	4.58	4.65	4.14	3.26	3.10	2.80	3.14	3.59	4.23	3.68	4.41	5.29	5.38	6.51	6.77	6.31	5.63	4.69

Flowserve Corp.'s interest coverage has shown consistent improvement over the past eight quarters. The interest coverage ratio, measuring the company's ability to meet its interest obligations from its operating income, has steadily increased from 4.29 in Q3 2022 to 5.57 in Q4 2023. This upward trend indicates that Flowserve Corp. has been generating sufficient operating income to comfortably cover its interest expenses. The company's interest coverage ratio has remained above 4.0 for the entire period, reflecting a strong financial position and reduced risk of default on its debt obligations. Overall, Flowserve Corp.'s interest coverage ratio demonstrates a positive and stable financial performance over the analyzed quarters.