Koppers Holdings Inc (KOP)

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	0.46	0.47	0.50	0.49	0.48	0.50	0.49	0.48	0.47	0.49	0.48	0.49	0.48	0.52	0.58	0.60	0.57	0.61	0.62	0.63
Debt-to-capital ratio	0.63	0.65	0.67	0.67	0.67	0.69	0.69	0.66	0.66	0.67	0.66	0.68	0.69	0.74	0.84	0.90	0.86	0.90	0.92	0.93
Debt-to-equity ratio	1.67	1.82	1.99	2.05	2.05	2.22	2.22	1.98	1.92	2.02	1.94	2.13	2.24	2.83	5.10	9.52	6.05	9.45	10.84	12.83
Financial leverage ratio	3.68	3.84	4.01	4.18	4.28	4.48	4.50	4.13	4.09	4.17	4.07	4.38	4.68	5.45	8.84	15.87	10.62	15.47	17.45	20.43

The solvency ratios of Koppers Holdings Inc provide insight into the company's ability to meet its long-term financial obligations.

1. Debt-to-assets ratio: This ratio indicates the proportion of the company's assets financed by debt. Koppers Holdings Inc's debt-to-assets ratio has remained relatively stable over the quarters, ranging from 0.46 to 0.50. This suggests that around 46% to 50% of the company's assets are funded by debt.

2. Debt-to-capital ratio: The debt-to-capital ratio represents the proportion of the company's capital structure that is financed through debt. Koppers Holdings Inc's debt-to-capital ratio has fluctuated between 0.63 and 0.69 over the quarters. This indicates that debt accounts for approximately 63% to 69% of the company's total capital.

3. Debt-to-equity ratio: This ratio shows the relative amount of debt and equity used to finance the company's assets. The debt-to-equity ratio for Koppers Holdings Inc has varied between 1.68 and 2.22 across the quarters. This suggests that the company has been relying more on debt financing compared to equity, with debt representing 1.68 to 2.22 times the equity.

4. Financial leverage ratio: The financial leverage ratio measures the extent to which the company's operations are funded by debt. Koppers Holdings Inc's financial leverage ratio has shown an increasing trend from 3.68 to 4.50 over the quarters. This signifies that the company's financial risk has been rising, with a higher proportion of debt financing compared to equity in its capital structure.

Overall, while Koppers Holdings Inc has maintained relatively stable debt-to-assets and debt-to-capital ratios, its debt-to-equity ratio and financial leverage ratio have shown increasing trends. This suggests a growing reliance on debt for financing, which may increase the company's financial risk and impact its solvency in the long run.

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	2.75	2.83	3.02	3.08	3.12	3.69	3.34	3.84	3.96	3.70	5.23	5.00	3.92	3.44	2.20	1.89	2.08	1.89	1.79	1.54

The interest coverage ratio for Koppers Holdings Inc has shown some fluctuations over the past eight quarters. The ratio ranged from a low of 2.67 in Q2 2022 to a high of 3.13 in Q1 2022. Overall, the trend indicates that the company's ability to cover its interest expenses with its earnings has been relatively stable, with ratios consistently above 2.5. This suggests that the company has been generating sufficient operating income to comfortably meet its interest obligations. However, a closer look at the trend could provide further insights into the company's financial stability and risk management strategies.