N-Able Inc (NABL)

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
Debt-to-assets ratio	0.29	0.30	0.30	0.30	0.31	0.32	0.32	0.32
Debt-to-capital ratio	0.32	0.33	0.33	0.34	0.34	0.36	0.36	0.35
Debt-to-equity ratio	0.47	0.49	0.50	0.51	0.52	0.56	0.55	0.54
Financial leverage ratio	1.63	1.66	1.66	1.67	1.68	1.74	1.71	1.70

The solvency ratios of N-Able Inc indicate its ability to meet its long-term financial obligations and its level of leverage. The debt-to-assets ratio has been relatively stable around 0.30 to 0.32, suggesting that the company maintains a moderate amount of debt compared to its total assets.

The debt-to-capital ratio and debt-to-equity ratio have also shown consistency, hovering between 0.32 to 0.35 and 0.47 to 0.54, respectively. These ratios indicate that N-Able Inc relies on a mix of debt and equity to finance its operations, with a slightly higher proportion of debt compared to equity.

The financial leverage ratio, which measures the company's overall debt level in relation to its equity, has ranged from 1.63 to 1.74. This indicates that N-Able Inc has been gradually increasing its leverage over time, which may signify a higher degree of financial risk.

Overall, the solvency ratios of N-Able Inc suggest a stable financial position with a manageable level of debt relative to its assets and capital. However, the increasing trend in the financial leverage ratio signals a need for careful monitoring of the company's debt levels to ensure sustainable long-term financial health.

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
Interest coverage	43.92	39.24	35.10	31.29	29.20	25.56	9.15	3.92

The interest coverage ratio of N-Able Inc has shown a positive trend over the past year, increasing from 3.92 in March 2022 to 43.92 in December 2023. This indicates that the company's ability to cover its interest payments with its operating income has significantly improved.

The substantial increase in the interest coverage ratio suggests that N-Able Inc has likely reduced its debt levels or increased its operating income, making it more financially stable and less risky in terms of meeting its interest obligations.

Overall, the improving trend in the interest coverage ratio of N-Able Inc reflects positively on its financial health and suggests that the company is in a better position to meet its debt obligations and ensure the sustainability of its operations.