Insteel Industries Inc (IIIN)
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 | 0.00 | 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 | 0.02 |
| 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 | 0.02 |
| 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 | 0.02 |
| Financial leverage ratio | 1.17 | 1.17 | 1.19 | 1.17 | 1.17 | 1.21 | 1.32 | 1.29 | 1.29 | 1.29 | 1.34 | 1.30 | 1.27 | 1.28 | 1.31 | 1.27 | 1.24 | 1.19 | 1.23 | 1.26 |
The solvency ratios of Insteel Industries Inc show a consistent trend of low debt levels relative to assets, capital, and equity over the analyzed periods. The debt-to-assets, debt-to-capital, and debt-to-equity ratios have all been at 0.00%, indicating that the company has not relied heavily on debt financing. The financial leverage ratio has ranged between 1.17 to 1.34, with a slight increase in leverage observed in recent periods.
Overall, Insteel Industries Inc has maintained a strong solvency position with low debt levels, providing a stable financial foundation for the company. However, the slight increase in financial leverage in recent periods should be monitored for its potential impact on the company's financial risk and stability.
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 | 315.04 | 480.94 | 734.93 | 1,102.28 | 1,572.10 | 1,778.22 | 1,788.85 | 1,484.68 | 1,135.71 | 897.91 | 624.38 | 464.86 | 325.38 | 229.02 | 118.03 | 48.69 | 17.93 | 45.38 | 122.94 | 259.67 |
Insteel Industries Inc's interest coverage ratio has shown significant fluctuations over the periods listed. The interest coverage ratio measures the company's ability to meet its interest payments on outstanding debt. A higher interest coverage ratio indicates a greater ability to meet interest obligations.
Insteel's interest coverage ratio has generally been at healthy levels, with a substantial increase from 2019 to 2023, peaking at 1,788.85 in June 2022. This indicates that the company generated ample earnings to cover its interest expenses during that period. However, there was a notable decline in the ratio in the following quarters, reaching its lowest point of 17.93 in March 2020.
These fluctuations in the interest coverage ratio suggest variability in the company's profitability and financial performance over time. It is essential for investors and stakeholders to closely monitor this metric to assess the company's ability to service its debt obligations effectively.