Quidel Corporation (QDEL)
Solvency ratios
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 2.14 | 2.13 | 2.11 | 2.03 | 1.71 | 1.72 | 1.71 | 1.76 | 1.79 | 1.80 | 1.79 | 1.28 | 1.26 | 1.29 | 1.28 | 1.41 | 1.40 | 1.47 | 1.59 | 1.60 |
Quidel Corporation's solvency ratios indicate a strong financial position with consistently low debt levels over the period. The Debt-to-assets ratio, Debt-to-capital ratio, and Debt-to-equity ratio have all remained at 0.00, reflecting that the company has financed its assets primarily through equity rather than debt.
The Financial leverage ratio, which measures the proportion of the company's assets that are financed by debt, has shown some fluctuation over the years. It started at 1.60 in March 2020, decreased steadily to 1.26 by December 2021, and then increased to 2.14 by December 2024. Although the ratio has increased in recent periods, it is still within a reasonable range and does not raise immediate concerns about the company's leverage.
Overall, Quidel Corporation's solvency ratios suggest a healthy balance sheet structure with little reliance on debt for financing its operations, providing a stable foundation for future growth and financial stability.
Coverage ratios
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | -10.50 | -10.19 | -10.70 | -10.87 | 1.27 | 1.51 | 1.82 | 4.00 | 12.59 | 30.05 | 111.08 | 302.83 | 135.94 | 167.07 | 159.39 | 134.16 | 110.23 | 45.07 | 15.95 | 8.84 |
The interest coverage ratio for Quidel Corporation has experienced significant fluctuations over the period from March 31, 2020, to December 31, 2024. The ratio started at a healthy level of 8.84 in March 2020, indicating the company's ability to cover its interest expenses nearly 9 times over. The ratio improved consistently over the next few quarters, reaching its peak at 302.83 in March 2022, which signifies a very strong capacity to meet interest obligations.
However, the interest coverage ratio took a sharp decline in the subsequent quarters, dropping to 1.27 by December 31, 2023. This decline suggests a potential strain on the company's ability to cover its interest expenses with its operating income. The ratio deteriorated further into negative territory in the quarters thereafter, reaching -10.50 by December 31, 2024. A negative interest coverage ratio indicates that the company's operating income is insufficient to cover its interest expenses.
Overall, while Quidel Corporation demonstrated strong interest coverage in the earlier periods, the significant decline in the ratio in the later quarters raises concerns regarding the company's ability to manage its interest obligations effectively. This trend warrants further investigation to understand the underlying factors impacting the company's interest coverage and its overall financial health.