Ryder System Inc (R)
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 | 0.02 | 0.06 | 0.06 | 0.06 |
| 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 | 0.08 | 0.25 | 0.25 | 0.24 |
| 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 | 0.09 | 0.33 | 0.33 | 0.31 |
| Financial leverage ratio | 5.14 | 4.95 | 4.84 | 4.84 | 4.90 | 4.82 | 5.11 | 5.37 | 4.94 | 5.13 | 5.34 | 5.56 | 5.73 | 6.34 | 6.58 | 6.40 | 5.85 | 5.85 | 5.57 | 5.43 |
The solvency ratios of Ryder System, Inc. provide insights into the company's ability to meet its long-term financial obligations.
1. Debt-to-assets ratio: Ryder's debt-to-assets ratio has remained relatively stable around 0.44-0.45 over the past few quarters. This indicates that approximately 44-45% of the company's total assets are financed by debt. A lower ratio suggests lower financial risk, as the company has a larger proportion of its assets financed by equity.
2. Debt-to-capital ratio: The debt-to-capital ratio shows a similar trend to the debt-to-assets ratio, hovering around 0.68-0.70. This ratio reflects the percentage of the company's capital structure that is funded by debt. Ryder's level suggests a moderate reliance on debt for financing its operations.
3. Debt-to-equity ratio: Ryder's debt-to-equity ratio has fluctuated between 2.11 and 2.56 over the quarters. This ratio indicates that the company has approximately 2.11-2.56 times more debt than equity in its capital structure. A higher ratio indicates higher financial risk, as the company has a larger amount of debt relative to equity.
4. Financial leverage ratio: The financial leverage ratio of Ryder System, Inc. has shown some variability, ranging from 4.84 to 5.38. This ratio measures the company's total assets relative to its equity capital. A higher value indicates higher financial leverage and potential risk.
Overall, while Ryder's solvency ratios indicate a moderate reliance on debt for financing its operations, the company's stable debt-to-assets and debt-to-capital ratios suggest a relatively consistent approach to managing its long-term financial obligations. It is essential for stakeholders to monitor these ratios for any significant changes that could impact the company's solvency position.
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 | 3.09 | 3.75 | 4.40 | 5.85 | 6.35 | 6.35 | 5.72 | 5.13 | 4.22 | 3.07 | 2.42 | 1.17 | 0.46 | -0.12 | -0.66 | 0.09 | 0.82 | 1.85 | 2.88 | 3.04 |
The interest coverage ratio of Ryder System, Inc. has shown a decreasing trend over the four quarters of 2023, starting at 4.54 in Q1 and declining to 3.63 in Q4. This indicates that the company's ability to cover its interest payments with its operating income has weakened throughout the year. Comparing to the same quarters in 2022, the interest coverage ratio has been consistently lower in 2023, reflecting potential challenges in meeting interest obligations with current earnings. The declining trend may raise concerns about Ryder's financial health and ability to manage its debt obligations in the future.