Gibraltar Industries Inc (ROCK)
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 | 0.01 | 0.04 | 0.07 | 0.09 | 0.07 | 0.03 | 0.02 | 0.05 | 0.03 | 0.05 | 0.07 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.01 | 0.06 | 0.10 | 0.13 | 0.10 | 0.05 | 0.03 | 0.07 | 0.04 | 0.07 | 0.10 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.01 | 0.06 | 0.11 | 0.14 | 0.11 | 0.05 | 0.03 | 0.07 | 0.04 | 0.08 | 0.12 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financial leverage ratio | 1.37 | 1.45 | 1.46 | 1.45 | 1.47 | 1.57 | 1.59 | 1.48 | 1.47 | 1.51 | 1.51 | 1.52 | 1.63 | 1.48 | 1.46 | 1.45 | 1.46 | 1.50 | 1.44 | 1.43 |
The solvency ratios of Gibraltar Industries Inc. indicate the company's ability to meet its long-term financial obligations. The debt-to-assets ratio has been consistently low, indicating a strong financial position with minimal reliance on debt to finance its assets. The trend shows a slight increase from Q1 2023 to Q2 2023 but remains well below historical levels.
Similarly, the debt-to-capital ratio and debt-to-equity ratio have also been low and stable, further highlighting the company's conservative financing structure. Both ratios show a slight increase in Q2 2023 compared to the previous quarters, but they are still at relatively low levels overall.
The financial leverage ratio measures the extent to which the company is using debt to finance its operations. The ratio has been fluctuating but generally remains below historical levels. The upward trend from Q1 2022 to Q2 2022 might indicate increased leverage, but the ratio has since decreased, suggesting better management of debt levels.
Overall, based on the solvency ratios, Gibraltar Industries Inc. appears to have a sound financial footing with minimal debt burden, which bodes well for its long-term financial health and stability.
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 | 50.21 | 28.97 | 24.75 | 27.37 | 32.15 | 46.65 | 54.57 | 62.72 | 59.18 | 70.04 | 88.07 | 89.81 | 134.49 | 183.36 | 257.01 | 242.57 | 36.90 | 16.07 | 9.92 | 7.78 |
Interest coverage measures a company's ability to meet its interest expenses with its operating income. In the case of Gibraltar Industries Inc., the interest coverage ratio has exhibited fluctuations over the past eight quarters. In Q4 2023, the interest coverage ratio stood at 51.47, indicating a strong ability to cover interest expenses. This was a significant increase from the previous quarter.
However, the trend prior to Q4 2023 showed a downward trajectory in interest coverage, with Q3 2023, Q2 2023, and Q1 2023 ratios standing at 28.97, 24.75, and 27.37, respectively. These numbers suggest a decline in the company's ability to cover interest expenses during that period.
Comparing to the same quarters in 2022, the interest coverage ratios were consistently higher in 2022 compared to 2023, indicating a potential decrease in the company's ability to cover interest expenses over the past year.
Overall, the interest coverage ratio for Gibraltar Industries Inc. has been fluctuating, with a notable increase in Q4 2023. Investors should closely monitor future financial results to assess whether the company can sustain or improve its ability to cover interest expenses in the long term.