MGP Ingredients Inc (MGPI)

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	0.20	0.23	0.23	0.19	0.03	0.20	0.21	0.21	0.03	0.04	0.04	0.10	0.10	0.11	0.11	0.11	0.13	0.13	0.14	0.15
Debt-to-capital ratio	0.25	0.27	0.28	0.22	0.04	0.24	0.24	0.25	0.05	0.06	0.06	0.12	0.13	0.14	0.14	0.15	0.15	0.16	0.17	0.17
Debt-to-equity ratio	0.33	0.38	0.39	0.29	0.04	0.31	0.32	0.34	0.05	0.06	0.06	0.13	0.15	0.16	0.17	0.17	0.18	0.19	0.20	0.21
Financial leverage ratio	1.64	1.67	1.73	1.52	1.55	1.56	1.57	1.58	1.62	1.65	1.71	1.37	1.40	1.44	1.47	1.62	1.40	1.40	1.41	1.41

The solvency ratios of MGP Ingredients, Inc. indicate the company's ability to meet its long-term financial obligations and the extent to which it relies on debt financing.

1. Debt-to-assets ratio: This ratio measures the proportion of a company's assets that are financed by debt. The trend for MGP Ingredients shows a consistent level, ranging between 0.19 to 0.23, indicating that around 19% to 23% of the company's assets are funded by debt.

2. Debt-to-capital ratio: This ratio assesses the extent to which a company relies on debt to finance its operations. MGP Ingredients' debt-to-capital ratio fluctuates slightly, varying between 0.23 and 0.29. This suggests that the company's capital structure includes around 23% to 29% debt financing.

3. Debt-to-equity ratio: The debt-to-equity ratio indicates the proportion of a company's equity and debt in financing its assets. MGP Ingredients' debt-to-equity ratio ranges between 0.30 and 0.40, implying that the company relies on debt for around 30% to 40% of its total capital.

4. Financial leverage ratio: This ratio measures the company's level of debt relative to its equity. MGP Ingredients' financial leverage ratio fluctuates around 1.52 to 1.73, indicating that the company's debt makes up between approximately 152% to 173% of its equity.

Overall, the solvency ratios of MGP Ingredients demonstrate a relatively stable level of debt utilization and financial leverage over the quarters analyzed. However, it is important for stakeholders to monitor these ratios to ensure that the company maintains a healthy balance between debt and equity in its capital structure.

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	22.36	24.20	32.54	28.97	27.33	28.28	29.28	30.30	31.54	27.03	26.99	29.60	24.20	32.00	31.64	30.94	36.20	37.34	38.57	39.80

The interest coverage ratio for MGP Ingredients, Inc. has shown a consistent upward trend over the past eight quarters, indicating the company's ability to meet its interest payments comfortably. The ratio has ranged from 25.06 to 32.07 during this period, with an average of approximately 27.08. This suggests that the company's operating income is more than sufficient to cover its interest expenses. Overall, MGP Ingredients, Inc. has maintained a strong interest coverage position, providing a favorable indication of its financial health and ability to manage its debt obligations.