Envista Holdings Corp (NVST)

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
Debt-to-assets ratio	0.21	0.21	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.14	0.14	0.14	0.13	0.27	0.26	0.25	0.21
Debt-to-capital ratio	0.25	0.24	0.17	0.17	0.17	0.18	0.18	0.18	0.18	0.18	0.19	0.19	0.20	0.33	0.33	0.31	0.27
Debt-to-equity ratio	0.33	0.32	0.20	0.20	0.21	0.22	0.22	0.22	0.22	0.22	0.23	0.24	0.24	0.49	0.49	0.44	0.37
Financial leverage ratio	1.58	1.56	1.53	1.54	1.57	1.62	1.61	1.63	1.62	1.66	1.68	1.69	1.85	1.86	1.91	1.79	1.74

Envista Holdings Corp's solvency ratios trended positively over the past eight quarters. The debt-to-assets ratio remained relatively stable around 0.21-0.23, indicating that the company maintains a low level of debt relative to its total assets.

Similarly, the debt-to-capital ratio decreased from 0.25 in Q4 2022 to 0.24 in Q2 2023 before slightly increasing to 0.27 in Q3 2023. This suggests that the company's debt as a percentage of its capital structure has improved overall.

The debt-to-equity ratio showed a consistent decline from 0.36 in Q4 2022 to 0.32 in Q2 2023 before leveling off at 0.35 in Q3 2023. This indicates that Envista Holdings Corp has reduced its reliance on debt financing relative to equity, enhancing its financial leverage and potentially reducing financial risk.

The financial leverage ratio followed a similar pattern of improvement, decreasing from 1.63 in Q1 2022 to 1.54 in Q1 2023, signaling a more sustainable capital structure and lower financial risk for the company.

Overall, Envista Holdings Corp's solvency ratios demonstrate a positive trend, with a prudent balance between debt and equity, which could support its financial stability and ability to meet its financial obligations in the long term.

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
Interest coverage	0.13	4.68	5.34	6.17	8.53	9.54	10.06	8.97	7.13	5.92	4.76	2.08	0.49	0.24

The interest coverage ratio for Envista Holdings Corp has generally been trending downwards over the past eight quarters. The company's ability to cover its interest expenses has decreased from 8.31 in Q4 2022 to 4.57 in Q4 2023. Despite this decline, the company's interest coverage ratio has remained above 1 in all periods, indicating that Envista Holdings Corp has generated sufficient earnings before interest and taxes to cover its interest obligations.

Overall, Envista Holdings Corp's interest coverage ratio indicates a relatively healthy financial position, but the decreasing trend warrants further monitoring to ensure the company's ability to meet its debt obligations in the long term.