NV5 Global Inc (NVEE)
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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.32 | 0.00 | 0.00 | 0.00 | 0.37 | 0.06 | 0.08 | 0.07 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.42 | 0.00 | 0.00 | 0.00 | 0.48 | 0.10 | 0.11 | 0.09 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.72 | 0.00 | 0.00 | 0.00 | 0.94 | 0.12 | 0.12 | 0.10 |
| Financial leverage ratio | 1.51 | 1.59 | 1.58 | 1.51 | 1.35 | 1.41 | 1.43 | 1.50 | 1.54 | 1.59 | 1.59 | 1.64 | 2.24 | 2.30 | 2.41 | 2.45 | 2.51 | 1.80 | 1.49 | 1.46 |
NV5 Global Inc has maintained a consistently low level of debt in relation to its assets, capital, and equity over the periods indicated. The debt-to-assets, debt-to-capital, and debt-to-equity ratios have all been consistently at or near 0.00, suggesting very little reliance on debt financing to support the company's operations and growth. The financial leverage ratio has shown some fluctuations but generally remains relatively low, indicating a lower level of debt used to finance the company's assets. Overall, the company's solvency ratios reflect a conservative financial structure with minimal financial risk related to debt 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 | 4.72 | 5.66 | 8.35 | 13.99 | 17.38 | 20.31 | 18.15 | 14.76 | 10.96 | 6.57 | 4.77 | 3.23 | 2.91 | 3.16 | 3.58 | 5.81 | 13.72 | 23.53 | 24.48 | 21.57 |
Interest coverage is a financial ratio that indicates a company's ability to cover its interest expenses with its earnings before interest and taxes (EBIT). A higher interest coverage ratio suggests that the company is more capable of servicing its debt obligations.
In the case of NV5 Global Inc, the interest coverage ratio has shown variability over the past few quarters, ranging from a low of 2.91 in Q1 2021 to a high of 24.48 in Q3 2019. The trend indicates fluctuations in the company's ability to cover its interest expenses. Generally, a ratio above 2 is considered acceptable, as it implies that the company generates enough earnings to meet its interest obligations.
The company's interest coverage ratio of 4.72 in Q4 2023 indicates a moderate ability to cover its interest expenses, although it is relatively lower compared to some previous quarters. The upward trend from Q1 2021 to Q4 2023 suggests an improvement in the company's ability to service its debt obligations over time.
Overall, while NV5 Global Inc's interest coverage ratios have fluctuated, the recent ratios are generally within an acceptable range, indicating a reasonable ability to manage its interest payments.