Pursuit Attractions and Hospitality, Inc. (PRSU)

The analysis of Pursuit Attractions and Hospitality, Inc.'s solvency ratios over the period indicates a consistently minimal reliance on debt financing. Specifically, the debt-to-assets ratio remains at 0.00 throughout all reported periods, signifying that the company's total assets have not been financed through liabilities, and thus it exhibits zero leverage in this regard.

Similarly, both the debt-to-capital and debt-to-equity ratios are reported as 0.00 in all periods where data is available, reflecting an absence of debt compared to capital and equity figures. Instances where data are marked as a dash ("—") suggest missing information rather than a deviation from zero levels, further supporting the interpretation of negligible or non-existent debt obligations.

Despite the lack of debt, the company's financial leverage ratio demonstrates variability. Initially, the ratios are relatively modest, starting at approximately 6.49 in June 2020 and decreasing to below 3.00 by September 2024, indicating that the firm's leverage was moderate or staff in the early stages. However, certain periods show escalations, with ratios reaching as high as over 165.18 in December 2021, which could result from accounting adjustments, a decrease in equity, or other financing activities not necessarily involving debt. The fluctuations continue through subsequent periods, with ratios generally trending downward, reaching as low as approximately 1.61 in December 2024.

Overall, the consistent zero debt ratios suggest that the company operates without traditional leverage, relying predominantly on equity or internal financing. The significant variance in the financial leverage ratio appears to be attributable to changes in total assets, equity, or accounting adjustments rather than increasing debt leverage. This capital structure may imply a conservative financial strategy with a low exposure to solvency risk associated with debt obligations, although it may also suggest limited financial leverage capacity for growth.

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Coverage ratios

The interest coverage ratio for Pursuit Attractions and Hospitality, Inc. demonstrates significant fluctuation over the period from June 2020 through March 2025. Initially, the company exhibited a negative interest coverage ratio, with values ranging from -12.94 in June 2020 to as low as -18.82 in December 2020, indicating that interest expenses substantially exceeded earnings before interest and taxes (EBIT) during this period. This pattern persisted into 2021, with ratios remaining negative and reaching a nadir at -2.23 in December 2021; although the ratio improved gradually throughout 2021 and 2022, it remained below 1. indicating that earnings were insufficient to cover interest obligations.

Starting from June 2022, the ratio turned positive, reaching 0.86 in June 2022 and subsequently increasing to a peak of 3.30 in September 2024. The transition from negative to positive ratios suggests a significant improvement in the company's ability to meet its interest obligations, reflecting increased profitability or reduced interest expenses. The elevated ratios above 1.0 indicate periods where earnings comfortably cover interest expenses, which is generally considered a sign of financial health.

However, the data also reveal periods of volatility and decline toward the end, with ratios turning negative again in December 2024 (-0.70) and March 2025 (-1.44). These negative values imply that during these quarters, interest expenses once more outstripped earnings, signaling potential financial distress or earnings pressures at that time.

Overall, the trend indicates a recovery trajectory beginning in mid-2022, with the company experiencing improved interest coverage ratios, but recent periods reflect renewed challenges. Continued monitoring of earnings capacity and interest expenses will be necessary to assess sustained financial stability.