Snap-On Inc (SNA)

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	0.16	0.16	0.16	0.17	0.17	0.17	0.17	0.17	0.17	0.18	0.17	0.18	0.18	0.19	0.24	0.17	0.17	0.17	0.17	0.17
Debt-to-capital ratio	0.19	0.20	0.20	0.20	0.21	0.22	0.21	0.22	0.22	0.23	0.23	0.23	0.24	0.25	0.29	0.22	0.22	0.22	0.22	0.23
Debt-to-equity ratio	0.23	0.25	0.25	0.26	0.26	0.27	0.27	0.28	0.28	0.29	0.30	0.31	0.31	0.33	0.41	0.28	0.28	0.29	0.29	0.30
Financial leverage ratio	1.49	1.51	1.52	1.55	1.56	1.58	1.59	1.60	1.62	1.63	1.70	1.72	1.71	1.73	1.75	1.67	1.67	1.69	1.69	1.72

Snap-On Inc's solvency ratios have been relatively stable over the past few quarters. The debt-to-assets ratio has ranged from 0.16 to 0.24, indicating that on average, around 16% to 24% of the company's total assets are financed by debt.

The debt-to-capital ratio has shown a similar trend, ranging from 0.19 to 0.29. This ratio suggests that 19% to 29% of the company's capital structure is attributed to debt.

The debt-to-equity ratio has ranged from 0.23 to 0.41, showing that the proportion of debt to equity in the company's capital structure fluctuated between 23% to 41%.

The financial leverage ratio has also been relatively stable between 1.49 and 1.75, indicating that the company's total assets are financed at a ratio of 1.49 to 1.75 times equity on average.

Overall, the solvency ratios of Snap-On Inc indicate that the company has maintained a stable and reasonable level of leverage, with a healthy mix of debt and equity in its capital structure, which is important for ensuring long-term financial stability and sustainability.

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	27.14	27.03	26.76	26.44	26.06	26.05	24.72	22.84	21.10	19.30	18.72	16.58	16.11	16.16	16.31	18.78	19.48	19.46	19.31	19.43

Snap-On Inc's interest coverage has shown consistent improvement over the past few quarters, indicating the company's ability to comfortably meet its interest payments. The interest coverage ratio has been consistently high, ranging from 16.11 to 27.14, with the most recent data point at 27.14. This suggests that Snap-On Inc generates earnings well above its interest expenses, providing a strong cushion against financial risk. The steady increase in the interest coverage ratio reflects the company's efficient management of its debt obligations and positive earnings performance. Investors and creditors may view this trend favorably as it signals financial stability and sound financial health for Snap-On Inc.