ODP Corp (ODP)
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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financial leverage ratio | 3.53 | 3.45 | 3.41 | 3.52 | 3.22 | 2.95 | 2.96 | 3.04 | 3.38 | 2.87 | 2.92 | 2.86 | 2.99 | 3.20 | 3.42 | 3.02 | 3.36 | 3.45 | 3.53 | 3.55 |
The solvency ratios of ODP Corp, as indicated by the debt-to-assets, debt-to-capital, debt-to-equity, and financial leverage ratios, show that the company consistently maintains a low level of debt relative to its assets and capital structure.
The debt-to-assets, debt-to-capital, and debt-to-equity ratios all indicate a value of 0.00 across the periods analyzed. This suggests that ODP Corp has minimal debt in relation to its total assets and capital, showcasing a conservative approach to managing its financial obligations.
The financial leverage ratio fluctuates over the periods provided, ranging from 2.86 to 3.55. These variations suggest that the company's financial leverage, although relatively low, has seen some shifts in certain periods. Despite this, compared to industry peers, ODP Corp's financial leverage remains within manageable levels.
Overall, the solvency ratios reflect ODP Corp's prudent financial management practices and indicate a strong financial position with a low reliance on debt to support its operations and growth.
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 | 11.05 | 13.67 | 16.47 | 16.69 | 15.44 | -3.39 | -0.67 | -4.92 | -4.89 | 5.04 | 4.93 | -8.06 | -5.67 | -2.75 | -2.31 | 3.45 | 2.67 | 1.62 | 1.50 | 1.95 |
The interest coverage ratio of ODP Corp has shown significant fluctuations over the past five quarters. The most recent data as of December 31, 2023, indicates an interest coverage ratio of 11.05, which reflects the company's ability to cover its interest expenses by operating income. This suggests a healthy level of interest coverage.
However, it is important to note that in the third quarter of 2022 and the second quarter of 2022, the interest coverage ratios were negative (-3.39 and -0.67, respectively). This indicates that the company's operating income was insufficient to cover its interest expenses during those periods.
Overall, the trend in interest coverage has been improving since the negative ratios in 2022, with generally increasing ratios from the second quarter of 2022 to the most recent quarter. This improvement is a positive sign of the company's ability to meet its interest obligations with its operating income.