Ingevity Corp (NGVT)
Financial leverage ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 2,623,300 | 2,766,800 | 2,828,300 | 2,772,200 | 2,736,500 | 2,335,400 | 2,366,000 | 2,455,800 | 2,469,000 | 2,426,200 | 2,389,000 | 2,342,500 | 2,334,500 | 2,258,200 | 2,195,500 | 2,353,300 | 2,141,700 | 2,118,800 | 2,129,500 | 2,107,200 |
| Total stockholders’ equity | US$ in thousands | 631,400 | 718,700 | 714,100 | 725,700 | 698,300 | 633,900 | 654,300 | 686,100 | 673,800 | 644,500 | 688,500 | 661,100 | 642,100 | 617,000 | 522,900 | 502,100 | 530,800 | 443,300 | 400,700 | 358,700 |
| Financial leverage ratio | 4.15 | 3.85 | 3.96 | 3.82 | 3.92 | 3.68 | 3.62 | 3.58 | 3.66 | 3.76 | 3.47 | 3.54 | 3.64 | 3.66 | 4.20 | 4.69 | 4.03 | 4.78 | 5.31 | 5.87 |
December 31, 2023 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $2,623,300K ÷ $631,400K
= 4.15
The financial leverage ratio for Ingevity Corp has shown fluctuations over the past eight quarters, ranging from a low of 3.58 in Q1 2022 to a high of 4.15 in Q4 2023. The trend indicates that the company's financial leverage has been increasing since Q2 2022, reaching its peak in the most recent quarter. This suggests that Ingevity Corp has been relying more on debt to finance its operations and investments. A higher financial leverage ratio generally implies a higher level of financial risk for the company, as it indicates a greater proportion of debt in its capital structure compared to equity. It is important for investors and stakeholders to closely monitor this ratio to assess the company's ability to meet its financial obligations and manage its debt effectively.
Peer comparison
Dec 31, 2023