Owens & Minor Inc (OMI)
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 | 0.29 | 0.30 | 0.33 | 0.40 | 0.40 | 0.41 | 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 | 0.56 | 0.58 | 0.71 | 0.76 | 0.78 | 0.77 | 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 | 1.25 | 1.38 | 2.44 | 3.21 | 3.57 | 3.26 | 0.00 | 0.00 | 0.00 |
| Financial leverage ratio | 5.51 | 5.78 | 5.90 | 5.74 | 5.70 | 5.73 | 5.79 | 6.02 | 3.77 | 4.04 | 4.24 | 4.31 | 4.68 | 7.31 | 7.94 | 8.92 | 7.88 | 7.51 | 7.84 | 7.74 |
Owens & Minor, Inc.'s solvency ratios provide insight into the company's ability to meet its long-term financial obligations. The debt-to-assets ratio has remained relatively stable around 0.40 to 0.45 over the past eight quarters, indicating that about 40% to 45% of the company's assets are funded by debt.
The debt-to-capital ratio has shown a slight increase over the quarters, ranging from 0.69 to 0.74, implying that debt represents around 69% to 74% of the company's total capital structure. This ratio suggests a moderate level of leverage in the company's capitalization.
Looking at the debt-to-equity ratio, we observe an upward trend from 2.27 in Q4 2022 to 2.78 in Q1 2022. This indicates that the company's level of financial leverage has been increasing, with debt accounting for approximately 2.27 to 2.78 times the equity in the company.
Furthermore, the financial leverage ratio has fluctuated between 5.51 and 6.02 over the past eight quarters, indicating that the company's total assets are leveraged between 5.51 and 6.02 times the equity. This reflects a high level of financial leverage, which may pose risks in terms of the company's ability to cover its debt obligations.
Overall, while the company's solvency ratios demonstrate a stable debt-to-assets composition and increasing leverage over time, investors and analysts should continue to monitor Owens & Minor, Inc.'s ability to sustain its debt levels and manage its financial commitments effectively.
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 | 0.65 | -0.06 | 0.14 | 0.55 | 1.08 | 2.58 | 3.65 | 6.02 | 6.75 | 6.45 | 5.69 | 3.22 | 1.62 | 0.34 | -0.23 | 0.23 | 0.30 | -2.38 | -2.41 | -4.78 |
Owens & Minor, Inc.'s interest coverage ratio has shown a declining trend over the past eight quarters. The interest coverage ratio indicates the company's ability to meet its interest payments on debt obligations with its operating income. A ratio below 1 suggests that the company is not generating enough operating income to cover its interest expenses.
In Q4 2023, Owens & Minor, Inc. had an interest coverage ratio of 1.29, which means that it generated enough operating income to cover its interest expenses 1.29 times over. However, this ratio has decreased significantly from the previous quarter (Q3 2023) where the ratio was only 0.44, indicating a sharp decline in the company's ability to cover interest payments.
Looking back at the data, the interest coverage ratios have been fluctuating, with the highest ratio of 7.42 in Q1 2022 and the lowest ratio of 0.44 in Q3 2023. This fluctuation suggests that Owens & Minor, Inc. may be facing challenges in generating sufficient operating income to comfortably cover its interest payments.
Overall, the declining trend in interest coverage ratios for Owens & Minor, Inc. raises concerns about the company's ability to manage its debt obligations. Investors and stakeholders may want to closely monitor the company's financial performance and debt management strategies to assess the risks associated with its leverage.