Globus Medical (GMED)
Solvency ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.08 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-capital ratio | 0.09 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-equity ratio | 0.10 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financial leverage ratio | 1.27 | 1.12 | 1.12 | 1.11 | 1.09 |
The solvency ratios of Globus Medical Inc indicate a consistent and improving financial position over the past five years. The debt-to-assets, debt-to-capital, and debt-to-equity ratios have all remained at very low levels, with values close to zero or negligible in recent years. These ratios suggest that the company has minimal financial leverage and is not heavily reliant on debt to fund its operations or investments.
Furthermore, the financial leverage ratio has shown a gradual increase from 1.09 in 2019 to 1.27 in 2023. This increase indicates that the company's reliance on debt to finance its assets has slightly risen over the years, albeit remaining at a moderate level overall. Despite the uptrend in the financial leverage ratio, Globus Medical Inc's solvency ratios still reflect a strong financial position with ample equity cushion to support its operations and growth initiatives.
Overall, based on the solvency ratios provided, Globus Medical Inc appears to have a sound and stable financial structure, with minimal debt levels and reasonable financial leverage, indicating a healthy solvency position.
Coverage ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Interest coverage | 1,987.19 | 16.02 | 18.50 | 7.99 | 9.88 |
Based on the data provided, it appears that the interest coverage ratio for Globus Medical Inc is not available for the fiscal years ending December 31, 2019 to 2023. The interest coverage ratio is a financial metric used to evaluate a company's ability to meet its interest obligations on outstanding debt.
The absence of data for the interest coverage ratio could be due to various reasons, such as the company not having any interest expenses to cover, the information not being disclosed or reported, or potential irregularities in the financial reporting.
Without the specific values for the interest coverage ratio over the specified period, it is difficult to assess the company's ability to generate enough operating income to cover its interest expenses. It is important for investors and analysts to closely monitor and evaluate this ratio as it provides insights into a company's financial health and debt management capabilities.