SpartanNash Co (SPTN)
Solvency ratios
| Dec 31, 2023 | Oct 7, 2023 | Jul 15, 2023 | Apr 22, 2023 | Dec 31, 2022 | Oct 8, 2022 | Apr 23, 2022 | Dec 31, 2021 | Oct 9, 2021 | Jul 17, 2021 | Apr 24, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jul 11, 2020 | Apr 18, 2020 | Dec 31, 2019 | Oct 5, 2019 | Jul 13, 2019 | Apr 20, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 0.01 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.01 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.01 |
| Financial leverage ratio | 3.03 | 3.00 | 3.03 | 3.02 | 3.01 | 3.00 | 2.85 | 2.82 | 2.93 | 2.92 | 3.03 | 3.10 | 3.21 | 3.24 | 3.38 | 3.31 | 3.39 | 3.33 | 3.40 | 2.75 |
SpartanNash Co's solvency ratios, based on the provided data, reflect a consistently low level of debt utilization over the periods analyzed. The debt-to-assets, debt-to-capital, and debt-to-equity ratios remain at 0.00 for most of the periods, indicating that the company has not relied heavily on debt for financing its assets or operations.
The financial leverage ratio, which measures the proportion of a company's total assets that are financed by debt, shows fluctuations but generally hovers around 3. This indicates that SpartanNash Co has a moderate level of financial leverage, with debt accounting for around three times the company's equity capital on average.
Overall, SpartanNash Co appears to maintain a conservative approach to debt management, with a focus on maintaining a low level of debt relative to its assets, capital, and equity. This suggests a stable financial position and the ability to meet financial obligations without undue reliance on borrowed funds.
Coverage ratios
| Dec 31, 2023 | Oct 7, 2023 | Jul 15, 2023 | Apr 22, 2023 | Dec 31, 2022 | Oct 8, 2022 | Apr 23, 2022 | Dec 31, 2021 | Oct 9, 2021 | Jul 17, 2021 | Apr 24, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jul 11, 2020 | Apr 18, 2020 | Dec 31, 2019 | Oct 5, 2019 | Jul 13, 2019 | Apr 20, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 2.76 | 2.49 | 2.61 | 2.79 | 4.30 | 6.44 | 8.21 | 8.12 | 6.68 | 6.88 | 7.23 | 5.63 | 4.57 | 2.94 | 1.29 | 1.10 | 0.41 | 1.02 | 2.00 | 2.33 |
Interest coverage measures a company's ability to meet its interest obligations with its earnings before interest and taxes (EBIT). A higher interest coverage ratio indicates a greater ability to cover interest expenses.
Analyzing SpartanNash Co's interest coverage over the past few years, we observe fluctuating values. In the most recent period ending December 31, 2023, the interest coverage ratio was 2.76, indicating that the company's earnings were 2.76 times its interest expenses. This suggests a moderate ability to cover interest costs.
Looking back further, we note a decreasing trend in interest coverage from the peak of 8.21 in April 23, 2022, to the recent value of 2.76. The substantial decrease in the ratio suggests that SpartanNash Co may be experiencing challenges in generating sufficient earnings to cover its interest payments efficiently.
Over the historical period analyzed, the interest coverage ratio has fluctuated significantly, ranging from a low of 0.41 on December 31, 2019, to a high of 8.21 on April 23, 2022. Such fluctuations may indicate varying levels of financial risk and operational performance for the company.
In conclusion, SpartanNash Co's interest coverage has shown volatility over the past few years, with the recent ratio indicating a moderate ability to meet interest obligations. Investors and stakeholders may want to monitor the trend closely to assess the company's financial health and debt repayment capabilities.