IDEXX Laboratories Inc (IDXX)
Solvency ratios
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financial leverage ratio | 2.06 | 2.20 | 4.51 | 3.53 | 3.63 |
IDEXX Laboratories Inc demonstrates strong solvency ratios based on the data provided. The Debt-to-assets ratio, Debt-to-capital ratio, and Debt-to-equity ratio are all consistently at 0.00 from December 31, 2020, to December 31, 2024. This indicates that the company has no debt relative to its assets, capital, or equity, suggesting a low financial risk and a healthy financial position.
The Financial leverage ratio, on the other hand, shows some fluctuations over the years but generally trends downward from 3.63 on December 31, 2020, to 2.06 on December 31, 2024. A decreasing trend in the financial leverage ratio indicates that the company is relying less on debt to finance its operations and is becoming less leveraged over time.
Overall, based on these solvency ratios, IDEXX Laboratories Inc appears to have a strong financial position with minimal debt obligations and a conservative capital structure, which bodes well for the company's long-term financial stability and ability to weather economic uncertainties.
Coverage ratios
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Interest coverage | 36.57 | 30.52 | 23.17 | 31.73 | 21.34 |
IDEXX Laboratories Inc's interest coverage ratio has shown a positive trend over the years, reflecting its ability to comfortably meet its interest obligations. The ratio has consistently improved from 21.34 in December 2020 to 36.57 in December 2024. This indicates that the company's earnings before interest and taxes (EBIT) are significantly higher than its interest expenses, providing a healthy buffer to cover interest payments. The upward trend suggests that IDEXX Laboratories Inc has been effectively managing its debt and generating sufficient operating income to service its interest obligations. Overall, a consistently increasing interest coverage ratio is a positive indicator of the company's financial health and ability to meet its debt obligations.