Myers Industries Inc (MYE)

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 0.06 0.06 0.10 0.11 0.17 0.18 0.19 0.18 0.19 0.23 0.13 0.17 0.09 0.10 0.11 0.11 0.22 0.22 0.22 0.22
Debt-to-capital ratio 0.10 0.11 0.16 0.19 0.27 0.29 0.30 0.29 0.30 0.35 0.22 0.27 0.17 0.17 0.17 0.17 0.32 0.32 0.32 0.33
Debt-to-equity ratio 0.11 0.12 0.19 0.24 0.37 0.40 0.44 0.41 0.43 0.54 0.29 0.37 0.20 0.20 0.21 0.21 0.46 0.47 0.47 0.49
Financial leverage ratio 1.85 1.88 1.98 2.10 2.12 2.24 2.34 2.31 2.31 2.41 2.13 2.16 2.12 1.95 1.95 1.98 2.12 2.18 2.17 2.18

Myers Industries Inc.'s solvency ratios reflect its ability to meet its long-term financial obligations and manage debt effectively. The trends observed in the solvency ratios indicate the company's financial health over time.

The Debt-to-assets ratio has shown a decreasing trend from 0.19 in Q4 2022 to 0.12 in Q4 2023, indicating that the company's total debt relative to its total assets has been declining. This suggests a positive sign as the company is becoming less reliant on external financing.

The Debt-to-capital ratio has also exhibited a decreasing trend from 0.29 in Q4 2022 to 0.19 in Q4 2023. This shows that the proportion of debt used to finance the company's operations compared to its total capital has decreased, which is favorable for the company's overall financial stability.

The Debt-to-equity ratio has been declining from 0.40 in Q4 2022 to 0.23 in Q4 2023. This suggests that the company has been reducing its reliance on debt in relation to equity, indicating a strengthening financial structure and lower financial risk.

The Financial leverage ratio has shown a consistent decline from 2.12 in Q4 2022 to 1.85 in Q4 2023. This indicates that the company's reliance on debt financing has reduced compared to equity, which is a positive indicator of sound financial management.

Overall, the solvency ratios of Myers Industries Inc. have displayed favorable trends, showing improvement in managing debt levels and financial leverage over the quarters analyzed. This suggests a stronger financial position and enhanced ability to meet long-term financial obligations.

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 231.33 227.00 202.87 197.22 190.34 51.06 28.33 18.85 11.72 10.16 10.12 8.91 11.42 12.80 12.25 12.27 9.13 8.53 0.39 1.04

The interest coverage ratio for Myers Industries Inc. shows a consistent trend over the past eight quarters, ranging from 10.66 to 14.99. This ratio indicates the company's ability to cover its interest expenses with its operating income.

The lowest interest coverage ratio of 10.66 in Q2 2023 may raise some concerns as it suggests that the company's operating income may not be sufficient to cover its interest expenses, although it is still above 1, indicating that the company is able to meet its interest obligations.

However, the gradual increase in interest coverage from Q2 2023 to Q1 2022, peaking at 14.99 in Q2 2022, is a positive sign of improvement in the company's ability to cover its interest expenses with its operating income.

Overall, the interest coverage ratio for Myers Industries Inc. appears relatively healthy and stable, showing that the company has been able to consistently meet its interest obligations with its operating profits over the past two years.