Enpro Industries (NPO)

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	0.26	0.26	0.29	0.29	0.29	0.32	0.31	0.31	0.32	0.23	0.23	0.23	0.23	0.24	0.24	0.24	0.31	0.32	0.25	0.27
Debt-to-capital ratio	0.31	0.31	0.35	0.35	0.36	0.41	0.41	0.42	0.43	0.30	0.30	0.31	0.31	0.31	0.31	0.31	0.41	0.43	0.33	0.35
Debt-to-equity ratio	0.45	0.45	0.54	0.54	0.56	0.68	0.68	0.72	0.76	0.43	0.43	0.45	0.45	0.46	0.45	0.46	0.70	0.76	0.49	0.54
Financial leverage ratio	1.77	1.78	1.86	1.86	1.90	2.13	2.20	2.30	2.34	1.89	1.90	1.92	1.93	1.90	1.90	1.90	2.27	2.36	1.97	2.01

The solvency ratios of Enpro Inc indicate the company's ability to meet its long-term financial obligations and the extent to which it relies on debt financing. Looking at the trends over the past eight quarters, we can see some important insights.

1. Debt-to-assets ratio has been relatively stable, hovering around 0.26 to 0.30. This suggests that Enpro has maintained a healthy balance between debt and assets, with a significant portion of its assets financed through debt.

2. Debt-to-capital ratio has shown a slight increase over the quarters, from 0.31 to 0.36. Although the increase is moderate, it indicates that Enpro's capital structure has become slightly more leveraged over time, with a higher proportion of debt in the capital mix.

3. Debt-to-equity ratio has also exhibited an increasing trend, rising from 0.46 to 0.55. This indicates that Enpro has been relying more on debt relative to equity to finance its operations, which could signify a higher financial risk.

4. Financial leverage ratio has shown fluctuations but generally decreasing trend from 1.90 to 2.31. This suggests that Enpro's reliance on debt to fund its operations has decreased over time, which could reflect an improved financial stability.

In summary, Enpro Inc's solvency ratios demonstrate a mixture of stable and changing trends in its debt levels and financing structure. It is essential for stakeholders to monitor these ratios to assess the company's ability to manage its debt effectively and to maintain a healthy financial position in the long run.

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	2.18	4.79	5.20	7.34	7.45	7.84	9.69	10.74	12.80	5.73	1.42	-0.78	11.61	10.97	12.24	13.84	2.78	2.08	3.17	2.20

Interest coverage is a key financial ratio that measures a company's ability to meet its interest obligations using its operating income. A higher interest coverage ratio indicates that the company is more capable of servicing its debt.

Enpro Inc's interest coverage ratio has shown some variability over the past eight quarters, ranging from a low of 3.94 in Q3 2023 to a high of 5.62 in Q1 2022. The average interest coverage ratio over this period is approximately 4.70.

The trend in the interest coverage ratio indicates that Enpro Inc has generally maintained a healthy ability to cover its interest expenses with operating income. However, the slight downward trend in recent quarters, with ratios decreasing from 4.69 in Q3 2022 to 3.94 in Q3 2023, may suggest a potential decrease in the company's ability to service its debt obligations with current levels of operating income.

Overall, Enpro Inc's interest coverage ratio remains relatively strong, but monitoring this trend going forward is crucial to ensure the company's continued financial health and ability to meet its debt obligations.