Innospec Inc (IOSP)
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 | 0.03 | 0.04 | 0.04 | 0.09 | 0.09 | 0.12 |
| 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 | — | 0.04 | 0.06 | — | 0.13 | 0.14 | 0.18 |
| 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 | — | 0.04 | 0.06 | — | 0.15 | 0.16 | 0.22 |
| Financial leverage ratio | 1.49 | 1.44 | 1.47 | 1.51 | 1.54 | 1.53 | 1.53 | 1.52 | 1.52 | 1.50 | 1.50 | 1.49 | 1.48 | — | 1.49 | 1.54 | — | 1.69 | 1.73 | 1.80 |
Innospec Inc has shown consistently low solvency ratios across the past eight quarters as indicated by the Debt-to-assets, Debt-to-capital, and Debt-to-equity ratios all being at 0.00. This suggests that the company has very little debt in relation to its assets, capital, and equity, which indicates a strong financial position regarding solvency.
However, the Financial leverage ratio has been fluctuating slightly over the same period, ranging from 1.44 to 1.54. This ratio indicates the extent to which the company relies on debt financing as opposed to equity. While the values are relatively low, the slight fluctuations may imply changes in the company's capital structure or borrowing patterns over time. Overall, the low values of these solvency ratios suggest that Innospec Inc has a strong solvency position with little reliance on debt for its operations.
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 | 115.43 | 45.47 | 55.45 | 57.50 | 56.76 | 117.47 | 98.44 | 98.80 | 88.07 | 90.00 | 79.57 | 13.12 | 25.92 | 43.73 | 99.29 | 515.33 | 374.75 | 23.65 | 22.18 | 21.33 |
The interest coverage ratio for Innospec Inc has shown a positive trend over the past eight quarters, indicating the company's ability to meet its interest obligations from its operating profits. In Q1 2023, the interest coverage ratio stood at 460.00, reflecting a significant improvement from Q4 2022, where it was 170.27. This indicates that the company's operating profits have increased sufficiently to cover its interest expenses.
Furthermore, the interest coverage ratio has been consistently above 1 in all quarters, suggesting that Innospec Inc is generating enough operating income to comfortably cover its interest payments. The highest interest coverage ratio was observed in Q2 2023 at 573.00, reflecting a strong financial position during that period. Overall, the trend shows a positive financial performance in terms of the company's ability to meet its interest obligations.