IDEXX Laboratories Inc (IDXX)
Solvency ratios
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financial leverage ratio | 2.06 | 2.07 | 2.16 | 2.14 | 2.20 | 2.38 | 2.62 | 3.34 | 4.51 | 5.55 | 5.70 | 4.05 | 3.53 | 3.16 | 3.23 | 3.31 | 3.63 | 4.65 | 7.18 | 17.52 |
IDEXX Laboratories Inc has consistently maintained a strong solvency position, indicated by its low debt-to-assets ratio, debt-to-capital ratio, and debt-to-equity ratio. These ratios have remained at 0.00 throughout the provided financial periods, suggesting that the company operates with minimal debt relative to its assets and capital structure.
The financial leverage ratio, which measures the proportion of debt in the company's capital structure, has shown a decreasing trend over the analyzed periods. The ratio decreased from 17.52 in March 2020 to 2.06 in December 2024, indicating a significant reduction in financial leverage and a stronger equity position.
Overall, IDEXX Laboratories Inc's solvency ratios demonstrate a conservative approach to financing, with a strong emphasis on equity financing and minimal reliance on debt to support its operations and growth initiatives.
Coverage ratios
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 36.69 | 34.22 | 32.34 | 31.25 | 26.99 | 24.12 | 22.27 | 20.76 | 22.97 | 26.29 | 29.10 | 32.32 | 31.65 | 30.81 | 28.09 | 24.39 | 21.18 | 19.39 | 18.99 | 18.85 |
IDEXX Laboratories Inc's interest coverage ratio has exhibited a generally increasing trend over the most recent years, indicating the company's improving ability to meet its interest expenses with its operating income. The interest coverage ratio, which measures the company's ability to pay interest on its outstanding debt, has consistently remained above industry norms, reflecting the company's strong financial health and efficient management of debt obligations.
As of December 31, 2024, the interest coverage ratio stood at 36.69, implying that the company's operating income was 36.69 times greater than its interest expenses for that period. This signifies a robust financial position, indicating that IDEXX Laboratories Inc has ample earnings to cover its interest payments and suggesting a low risk of default on its debt obligations.
The increasing trend in the interest coverage ratio from 18.85 as of March 31, 2020, to 36.69 as of December 31, 2024, demonstrates a consistent improvement in the company's ability to service its debt over time. This steady enhancement suggests that IDEXX Laboratories Inc has been efficiently managing its capital structure and generating sufficient earnings to support its debt burden, instilling confidence in creditors and investors regarding the company's financial stability and sustainability.