Dorian LPG Ltd (LPG)

Solvency ratios

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 Sep 30, 2019 Jun 30, 2019
Debt-to-assets ratio 0.30 0.31 0.32 0.35 0.35 0.38 0.40 0.40 0.37 0.33 0.33 0.34 0.34 0.33 0.34 0.35 0.35 0.35 0.37 0.38
Debt-to-capital ratio 0.35 0.36 0.39 0.40 0.41 0.41 0.42 0.42 0.39 0.35 0.36 0.36 0.36 0.35 0.36 0.38 0.37 0.37 0.39 0.40
Debt-to-equity ratio 0.54 0.57 0.63 0.67 0.69 0.69 0.71 0.72 0.64 0.55 0.55 0.56 0.57 0.54 0.57 0.60 0.60 0.60 0.63 0.67
Financial leverage ratio 1.80 1.85 1.93 1.92 1.96 1.83 1.80 1.80 1.75 1.65 1.67 1.67 1.67 1.64 1.69 1.71 1.71 1.69 1.72 1.76

Dorian LPG Ltd's solvency ratios have shown some fluctuations over the past several quarters. The debt-to-assets ratio has generally remained relatively stable, ranging between 0.30 and 0.40, indicating that around 30% to 40% of the company's total assets have been financed through debt.

The debt-to-capital ratio and debt-to-equity ratio have exhibited a similar trend, with both ratios gradually increasing over the periods analyzed. This suggests that the proportion of debt in relation to the company's total capital and equity has been on the rise, reaching levels of 0.40 for the debt-to-capital ratio and 0.67 for the debt-to-equity ratio in the most recent quarter.

The financial leverage ratio, which measures the company's total assets in relation to equity, has also shown a slight upward trajectory, fluctuating between 1.64 and 1.96. This implies that the company has been relying more on debt to finance its assets compared to equity.

Overall, the increasing trend in Dorian LPG Ltd's solvency ratios indicates a growing reliance on debt for financing, which could potentially raise concerns about the company's ability to meet its debt obligations in the future. It would be important for stakeholders to closely monitor these ratios to assess the company's long-term solvency and financial stability.

Coverage ratios

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 Sep 30, 2019 Jun 30, 2019
Interest coverage 12.18 6.84 7.20 5.60 4.86 5.00 3.67 5.24 4.53 4.84 6.10 5.35 5.36 3.50 3.50 4.80 4.98 2.95 2.06 0.70

The interest coverage ratio of Dorian LPG Ltd has shown fluctuations over the past several quarters, ranging from a low of 0.70 to a high of 12.18. The interest coverage ratio measures the company's ability to meet its interest payments on debt using its operating income.

In recent quarters, the interest coverage ratio has generally been above 1, indicating that the company is generating enough operating income to cover its interest expenses. A higher ratio, such as 6.84 or 7.20, suggests a stronger ability to meet interest payments without relying excessively on additional borrowing or risking default.

However, the fluctuating nature of the interest coverage ratio, as seen in the data provided, may indicate potential variability in the company's ability to service its debt obligations in the future. A declining trend in the interest coverage ratio over time could signal increasing financial risk for the company, while an improving trend suggests a strengthening financial position.

It is important for investors and stakeholders to monitor the interest coverage ratio of Dorian LPG Ltd closely, along with other key financial metrics, to assess the company's overall financial health and sustainability.