Installed Building Products Inc (IBP)

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	0.42	0.43	0.45	0.47	0.47	0.47	0.49	0.50	0.50	0.41	0.43	0.44	0.46	0.47	0.48	0.50	0.50	0.51	0.47	0.49
Debt-to-capital ratio	0.55	0.57	0.60	0.62	0.63	0.64	0.67	0.68	0.67	0.58	0.60	0.62	0.63	0.64	0.67	0.69	0.69	0.70	0.68	0.69
Debt-to-equity ratio	1.25	1.33	1.48	1.64	1.68	1.81	2.07	2.13	2.00	1.38	1.50	1.60	1.70	1.79	2.00	2.22	2.18	2.38	2.10	2.26
Financial leverage ratio	2.96	3.06	3.27	3.52	3.60	3.86	4.25	4.24	3.97	3.38	3.51	3.62	3.72	3.83	4.15	4.42	4.40	4.68	4.45	4.60

Installed Building Products Inc's solvency ratios have shown some fluctuations over the past eight quarters.

The Debt-to-assets ratio has generally been on a slight downward trend from 0.52 in Q1 2022 to 0.44 in Q4 2023. This indicates that the company's level of debt in relation to its total assets has improved, suggesting a lower risk of insolvency.

The Debt-to-capital ratio also displays a similar trend, decreasing from 0.69 in Q1 2022 to 0.57 in Q4 2023. This signifies that the company's reliance on debt to finance its operations has decreased relative to its total capital, indicating improved financial stability.

The Debt-to-equity ratio, on the other hand, has shown a more volatile pattern, peaking at 2.22 in Q1 2022 and fluctuating downwards to 1.31 in Q4 2023. This ratio indicates the proportion of debt used to finance the company's assets compared to shareholders' equity, with lower values suggesting a healthier financial structure.

The Financial leverage ratio has exhibited a consistent decrease from 4.24 in Q1 2022 to 2.96 in Q4 2023. This ratio reflects the company's ability to meet its financial obligations through debt financing, with lower values implying lower financial risk.

Overall, the solvency ratios of Installed Building Products Inc show a positive trend towards improved financial health and reduced reliance on debt financing over the analyzed period.

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	10.00	9.58	9.13	8.98	8.30	6.97	6.51	5.97	5.73	6.07	5.78	5.36	5.33	4.89	4.49	4.43	4.30	4.45	4.59	4.42

Installed Building Products Inc's interest coverage ratio has been showing a consistent increasing trend over the past eight quarters, indicating the company's improving ability to cover its interest obligations. The interest coverage ratio has steadily improved from 5.96 in Q1 2022 to 9.98 in Q4 2023. This suggests that the company's earnings before interest and taxes (EBIT) are comfortably exceeding its interest expenses, providing a buffer for the company to meet its debt obligations.

The consistently high interest coverage ratios above 1 signify that Installed Building Products Inc is generating sufficient operating income to pay off its interest expenses multiple times over, reflecting a strong financial position. The increasing trend in the interest coverage ratio also indicates the company's improving financial health and reduced risk of default on its debt obligations.

Overall, the upward trend in Installed Building Products Inc's interest coverage ratio demonstrates its ability to service its debt commitments effectively and highlights its financial stability and strength in managing its interest expenses.