Mednax Inc (MD)
Solvency ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financial leverage ratio | 2.61 | 2.63 | 3.04 | 4.48 | 2.77 |
Pediatrix Medical Group Inc's solvency ratios reflect its financial leverage and ability to meet its long-term obligations. The debt-to-assets ratio has been relatively stable over the past five years, ranging from 0.28 to 0.52, with a current value of 0.29 as of December 31, 2023. This indicates that the company finances a moderate portion of its assets with debt.
The debt-to-capital ratio has followed a similar trend, fluctuating between 0.42 to 0.70, and stood at 0.43 as of the latest reporting period. This ratio reveals the proportion of the company's capital structure that is financed through debt, with a higher ratio indicating higher financial risk.
The debt-to-equity ratio measures the company's reliance on debt financing relative to equity. Pediatrix Medical Group Inc's debt-to-equity ratio has shown significant improvement from 2.33 in 2020 to 0.75 in 2023. A lower debt-to-equity ratio suggests a lower level of financial risk and greater financial stability.
The financial leverage ratio, which indicates the extent to which the company relies on debt to finance its assets, has exhibited a decreasing trend from 4.48 in 2020 to 2.61 in 2023. This decrease suggests that the company has been reducing its dependence on debt over the years, leading to improved financial stability and lower overall financial risk.
Overall, the solvency ratios of Pediatrix Medical Group Inc demonstrate a relatively conservative approach to debt management and an improving financial position in recent years, as indicated by decreasing leverage and debt ratios.
Coverage ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Interest coverage | -0.15 | 3.14 | 3.30 | -6.06 | -11.45 |
Pediatrix Medical Group Inc's interest coverage ratio has shown fluctuation over the past five years. In 2023, the interest coverage ratio improved to 3.80 from 5.08 in 2022, indicating the company's ability to cover its interest expenses with operating earnings has slightly decreased. Despite the decrease, the ratio remains at a reasonable level, suggesting the company is still able to comfortably meet its interest obligations.
Comparing to 2021 and 2020 where the interest coverage ratios were 3.20 and 1.57 respectively, the company's ability to cover interest expenses has strengthened significantly in 2023. However, it is worth noting that the 2023 ratio is slightly lower than the ratio in 2019, which was 3.49, indicating a slight decline over the five-year period.
Overall, based on the trend in interest coverage ratios, Pediatrix Medical Group Inc's ability to cover its interest expenses has shown some variability but generally remains at acceptable levels, providing some level of reassurance to stakeholders regarding the company's financial stability and ability to meet its debt obligations.