Insteel Industries Inc (IIIN)
Solvency ratios
| 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 | Dec 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 | 0.00 |
| 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 | 1.20 | 1.20 | 1.17 | 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 |
Insteel Industries Inc has maintained a consistent trend of low solvency ratios over the periods presented. The debt-to-assets ratio, debt-to-capital ratio, and debt-to-equity ratio have all been consistently at 0.00, indicating that the company has not utilized debt significantly to finance its operations in relation to its assets, capital, or equity.
However, the financial leverage ratio has shown some variability over the periods, ranging from 1.17 to 1.34. This ratio measures the extent to which the company relies on debt in its capital structure. Insteel Industries Inc's financial leverage has fluctuated slightly in recent quarters, with a peak of 1.34 indicating a higher level of debt usage in relation to equity.
Overall, the company's solvency ratios suggest that it has a conservative approach to debt financing, as indicated by consistently low debt-based ratios. However, the slight fluctuations in the financial leverage ratio warrant attention to ensure the company maintains a balanced and sustainable capital structure.
Coverage ratios
| 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 | Dec 31, 2019 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 285.12 | 276.84 | 323.73 | 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 |
Insteel Industries Inc has shown a fluctuating trend in its interest coverage ratio over the past few periods. The interest coverage ratio measures the company's ability to cover its interest expenses with its operating income.
The data shows that Insteel Industries Inc had a strong interest coverage ratio in the most recent period as of Sep 30, 2024, at 285.12, indicating that the company generated ample operating income to cover its interest expenses. This was a positive sign for the company's financial health.
Looking back over the past few quarters, the interest coverage ratio has generally been high, with some fluctuations. The ratio peaked at 1,778.22 on Sep 30, 2022, and has shown a decreasing trend since then. It hit a low of 17.93 on Mar 31, 2020, but has since recovered and improved significantly.
The upward trend in the interest coverage ratio over the past few quarters suggests that Insteel Industries Inc has been more effectively managing its interest expenses relative to its operating income. However, it is essential for the company to continue monitoring and maintaining a healthy interest coverage ratio to ensure its long-term financial stability.