Teledyne Technologies Incorporated (TDY)
Solvency ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.18 | 0.25 | 0.28 | 0.13 | 0.16 |
| Debt-to-capital ratio | 0.22 | 0.31 | 0.35 | 0.17 | 0.22 |
| Debt-to-equity ratio | 0.29 | 0.44 | 0.54 | 0.21 | 0.28 |
| Financial leverage ratio | 1.58 | 1.76 | 1.89 | 1.57 | 1.69 |
The solvency ratios of Teledyne Technologies Inc indicate the company's ability to meet its financial obligations in the long term. The trend over the past five years shows improvement in the company's solvency position.
The Debt-to-assets ratio has decreased from 0.28 in 2022 to 0.22 in 2023, indicating that the company has reduced its reliance on debt to finance its assets. A lower debt-to-assets ratio suggests lower financial risk as the company is financing a smaller portion of its assets with debt.
Similarly, the Debt-to-capital ratio has also shown a decline from 0.35 in 2022 to 0.26 in 2023, reflecting a decrease in the proportion of debt in the company's capital structure. This indicates improved financial stability and a stronger ability to cover debt obligations.
The Debt-to-equity ratio has decreased from 0.54 in 2022 to 0.35 in 2023, showing a decrease in financial leverage and a lower reliance on debt financing compared to equity. A lower debt-to-equity ratio signifies less financial risk and a stronger position to withstand economic downturns.
The Financial leverage ratio has also improved from 1.89 in 2022 to 1.58 in 2023, indicating a reduction in the company's reliance on debt to finance its operations. A lower financial leverage ratio suggests lower financial risk and better financial health.
Overall, the decreasing trend in these solvency ratios for Teledyne Technologies Inc demonstrates a positive sign of improved financial strength and ability to manage long-term debt obligations.
Coverage ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Interest coverage | 13.39 | 11.17 | 6.88 | 31.70 | 23.56 |
Teledyne Technologies Inc's interest coverage ratio has been fluctuating over the past five years. The trend indicates that the company's ability to cover its interest payments with its earnings has varied significantly. The interest coverage ratio was 13.38 in 2023, 10.88 in 2022, 5.99 in 2021, 31.38 in 2020, and 23.41 in 2019.
The data suggests that the company had a strong ability to cover its interest expenses in 2023 and 2019, with ratios of 13.38 and 23.41 respectively. However, there was a significant decrease in its ability to cover interest payments in 2021 with a ratio of 5.99. The sharp fluctuation in the interest coverage ratio over the years could be a result of changes in the company's profitability, debt levels, or interest expenses.
Overall, Teledyne Technologies Inc's interest coverage ratio has shown variability, indicating the importance of closely monitoring the company's financial performance and debt management practices.