Glaukos Corp (GKOS)
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 | 0.30 | 0.30 | 0.29 | 0.29 | 0.28 | 0.28 | 0.27 | 0.27 | 0.27 | 0.26 | 0.00 | 0.00 | 0.19 | 0.19 | 0.18 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-capital ratio | 0.38 | 0.37 | 0.37 | 0.36 | 0.35 | 0.34 | 0.33 | 0.32 | 0.32 | 0.32 | 0.00 | 0.00 | 0.22 | 0.22 | 0.22 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-equity ratio | 0.61 | 0.59 | 0.58 | 0.55 | 0.53 | 0.51 | 0.50 | 0.47 | 0.48 | 0.47 | 0.00 | 0.00 | 0.28 | 0.28 | 0.28 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financial leverage ratio | 2.04 | 1.99 | 1.96 | 1.91 | 1.89 | 1.84 | 1.83 | 1.76 | 1.79 | 1.77 | 1.79 | 1.73 | 1.51 | 1.50 | 1.50 | 1.22 | 1.22 | 1.62 | 1.61 | 1.23 |
The solvency ratios of Glaukos Corporation depict a stable and healthy financial position over the analyzed period. The debt-to-assets ratio has remained relatively consistent, indicating that the company has maintained a reasonable level of debt in relation to its assets. This implies a moderate risk exposure to creditors.
Similarly, the debt-to-capital ratio has also shown consistency, signifying that the company's financing structure has not significantly shifted. This indicates a balanced mix of debt and equity financing in the company's capital structure.
The debt-to-equity ratio has been decreasing steadily, reflecting a decreasing reliance on debt funding and an increasing proportion of equity in the company's financing. This trend suggests an improving solvency position and reduced financial risk for the company.
The financial leverage ratio has also shown a consistent decrease, indicating that the company has been progressively relying less on borrowed funds to finance its operations. This decline reflects a strengthening financial position and a lower dependence on debt to support its activities.
Overall, the solvency ratios of Glaukos Corporation demonstrate a prudent approach to managing its financial obligations and a strategic shift towards a more sustainable and 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 | -8.81 | -8.42 | -8.14 | -9.09 | -6.17 | -5.52 | -3.08 | -1.02 | -2.68 | -1.83 | -2.83 | -4.75 | -8.06 | -13.87 | -25.70 | -29.30 | -19.10 | -8.83 | -6.29 | -4.11 |
The interest coverage ratio for Glaukos Corporation has been consistently below 1 over the past eight quarters, with the lowest being -27.68 in Q4 2023. This indicates that the company's earnings before interest and taxes (EBIT) are insufficient to cover its interest expenses, signaling a potential financial risk. The declining trend in the interest coverage ratio from Q1 2022 to Q4 2023 shows a deteriorating ability to meet interest obligations, which may lead to difficulties in servicing its debt. Glaukos Corporation should focus on improving its profitability and operational efficiency to enhance its interest coverage ratio and financial stability.