Integer Holdings Corp (ITGR)

1. Debt-to-assets ratio:
Integer Holdings Corp's debt-to-assets ratio has remained relatively stable over the past five years, ranging from 0.31 to 0.35. This ratio indicates that the company finances approximately 31% to 35% of its total assets through debt, with the remaining funded by equity. The consistent ratio suggests a prudent balance in the company's capital structure.

2. Debt-to-capital ratio:
Similarly, the debt-to-capital ratio has shown a consistent trend over the years, staying within the range of 0.37 to 0.41. This ratio reflects the proportion of the company's capital structure funded by debt, which ranges from 37% to 41%. The stability in this ratio implies that Integer Holdings Corp has maintained a steady mix of debt and equity financing.

3. Debt-to-equity ratio:
Integer Holdings Corp's debt-to-equity ratio has fluctuated slightly between 0.58 and 0.71 in the past five years. This ratio signifies the extent to which the company relies on external debt compared to equity for its financing needs. The varying trend in this ratio may indicate changes in the company's capital structure and debt management strategies over time.

4. Financial leverage ratio:
The financial leverage ratio, which measures the company's level of financial risk, has ranged from 1.87 to 2.04 over the five-year period. This ratio reflects the company's ability to meet its financial obligations and the extent to which it uses debt in its capital structure. The fluctuations in this ratio suggest changes in the company's leverage and risk profile over the years.

Overall, Integer Holdings Corp's solvency ratios demonstrate a generally sound financial position with manageable levels of debt relative to assets, capital, and equity. The company's consistent debt-to-assets and debt-to-capital ratios indicate a balanced capital structure, while the fluctuating debt-to-equity ratio may reflect adjustments in the company's financing strategies. The financial leverage ratio provides insight into the company's risk management practices and highlights the variations in its leverage position over time.

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Coverage ratios

Interest coverage ratio measures a company's ability to meet its interest payments on outstanding debt. Integer Holdings Corp's interest coverage has fluctuated over the past five years, ranging from 3.21 in 2023 to 4.52 in 2021. A higher interest coverage ratio indicates a stronger ability to cover interest expenses with operating income.

In 2023, the interest coverage ratio decreased from the previous year, suggesting a slightly reduced ability to cover interest payments with operating income. However, the ratio remains above 1, indicating that the company's operating income is still sufficient to cover interest expenses.

It is important for investors and creditors to monitor changes in the interest coverage ratio over time to assess the company's financial health and ability to manage debt obligations. Integer Holdings Corp's history of maintaining interest coverage above 1 demonstrates a consistent ability to meet its interest obligations.