Integer Holdings Corp (ITGR)

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	0.33	0.33	0.34	0.35	0.32	0.34	0.34	0.31	0.31	0.26	0.27	0.28	0.29	0.33	0.37	0.33	0.33	0.34	0.35	0.37
Debt-to-capital ratio	0.39	0.39	0.40	0.41	0.39	0.41	0.41	0.37	0.38	0.31	0.32	0.34	0.35	0.39	0.44	0.41	0.40	0.41	0.43	0.45
Debt-to-equity ratio	0.63	0.64	0.68	0.70	0.64	0.68	0.68	0.60	0.60	0.46	0.48	0.51	0.55	0.65	0.79	0.68	0.67	0.70	0.74	0.81
Financial leverage ratio	1.94	1.94	1.98	2.03	1.97	2.02	2.02	1.91	1.91	1.76	1.79	1.83	1.87	1.99	2.14	2.06	2.04	2.09	2.14	2.20

Integer Holdings Corp's solvency ratios indicate the company's ability to meet its long-term financial obligations. The debt-to-assets ratio has remained relatively stable around 0.33 to 0.35 over the past few quarters, suggesting that roughly one-third of the company's assets are financed by debt.

The debt-to-capital and debt-to-equity ratios show a slightly increasing trend, indicating a higher proportion of debt in the company's capital structure over time. The debt-to-capital ratio has fluctuated between 0.39 and 0.42, while the debt-to-equity ratio has varied from 0.61 to 0.71. These ratios suggest that a significant portion of Integer Holdings Corp's capital and equity is funded by debt.

The financial leverage ratio has also exhibited an upward trend, reaching a high of 2.03 in the most recent quarter. This ratio indicates that the company is using more debt relative to equity to finance its operations, which can increase financial risk.

Overall, Integer Holdings Corp's solvency ratios suggest that the company has been gradually increasing its reliance on debt financing, which could potentially impact its financial stability and flexibility in the long run. It would be important for the company to closely monitor its debt levels and ensure they are sustainable given its operational and financial requirements.

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	3.01	2.81	2.58	2.58	2.99	3.72	3.98	4.23	4.32	3.74	4.03	3.05	3.26	2.87	2.83	3.48	3.10	3.34	1.79	1.70

Interest coverage is a financial ratio used to evaluate a company's ability to meet its interest obligations on outstanding debt. It is calculated by dividing a company's earnings before interest and taxes (EBIT) by its interest expenses.

Based on the data provided for Integer Holdings Corp, we can observe the trend in the interest coverage ratio over the past eight quarters. The interest coverage ratio has ranged from a low of 2.86 in Q2 2023 to a high of 4.58 in Q1 2022.

A higher interest coverage ratio indicates that the company is more capable of servicing its debt obligations from its operating earnings. In this case, Integer Holdings Corp has generally maintained a healthy interest coverage ratio above 3.0 over the periods analyzed.

The slight fluctuations in the interest coverage ratio could be due to changes in the company's EBIT and interest expenses. It is important for investors and creditors to monitor this ratio to ensure that the company remains financially stable and is able to comfortably cover its interest payments.