RPC Inc (RES)
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 | 1.26 | 1.25 | 1.24 | 1.28 | 1.32 | 1.36 | 1.37 | 1.35 | 1.35 | 1.31 | 1.27 | 1.28 | 1.25 | 1.26 | 1.21 | 1.29 | 1.27 | 1.30 | 1.33 | 1.32 |
RPC, Inc. demonstrates strong solvency ratios as indicated by consistently low debt-to-assets, debt-to-capital, and debt-to-equity ratios across all quarters in 2022 and 2023. Specifically, the company has maintained a debt-to-assets, debt-to-capital, and debt-to-equity ratios of 0.00, indicating that it has no debt relative to its total assets, capital, or equity. This suggests that RPC, Inc. relies primarily on equity financing rather than debt to fund its operations and investments.
Furthermore, the financial leverage ratio for RPC, Inc. has fluctuated slightly over the quarters but remains relatively stable. The financial leverage ratio peaked at 1.37 in Q2 2022 but has since decreased to 1.25 in Q3 2023. Although the financial leverage ratio is above 1, indicating some financial leverage, it is not at concerning levels and suggests that the company has a relatively low level of debt in relation to its equity.
Overall, based on the solvency ratios provided, RPC, Inc. appears to have a solid financial position with low debt levels and a conservative capital structure, which may indicate a lower risk of financial distress and a higher capacity to meet its financial obligations.
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 | 752.45 | 1,001.81 | 1,072.54 | 708.59 | 472.71 | 278.05 | 61.29 | 30.07 | 9.53 | -12.04 | -92.29 | -156.83 | -828.57 | -957.46 | -1,427.94 | -923.27 | -337.63 | -171.26 | 159.53 | 326.13 |
The interest coverage ratio for RPC, Inc. was not available for Q4 2023, Q3 2023, Q2 2023, and Q1 2023. However, the interest coverage ratio showed significant improvement over the quarters leading up to Q1 2023. In Q3 2022, the interest coverage ratio stood at 826.26, indicating the company's strong ability to cover its interest payments with its operating income. This was a substantial increase from 59.92 in Q2 2022 and 22.42 in Q1 2022. The improving trend in the interest coverage ratio suggests that RPC, Inc. was able to significantly enhance its financial health and reduce its financial risk leading up to Q1 2023. It would be important to monitor the interest coverage ratio in subsequent quarters to assess the company's ability to sustain this positive trend.