Bio-Techne Corp (TECH)
Solvency ratios
| Jun 30, 2024 | Mar 31, 2024 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 1.31 | 1.35 | 1.39 | 1.38 | 1.34 | 1.38 | 1.29 | 1.34 | 1.35 | 1.34 | 1.35 | 1.38 | 1.45 | 1.35 | 1.36 | 1.43 | 1.47 | 1.55 | 1.51 | 1.64 |
Based on the provided solvency ratios of Bio-Techne Corp, the debt-to-assets, debt-to-capital, and debt-to-equity ratios have consistently been reported as 0.00 across all the periods. This indicates that the company has not utilized debt financing to fund its operations or growth, resulting in a conservative capital structure with no financial leverage from debt.
However, the financial leverage ratio has fluctuated over the periods, ranging from 1.29 to 1.64. The financial leverage ratio above 1 indicates that the company has some level of financial leverage, primarily driven by equity financing. The decreasing trend in the financial leverage ratio from the initially higher levels suggests a lower reliance on equity financing over time.
Overall, the solvency ratios suggest that Bio-Techne Corp has maintained a strong financial position with minimal debt obligations and a relatively stable level of financial leverage predominantly supported by equity financing.
Coverage ratios
| Jun 30, 2024 | Mar 31, 2024 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 12.91 | 14.72 | 18.60 | 24.10 | 31.18 | 33.82 | 29.53 | 30.59 | 28.44 | 20.77 | 18.57 | 14.73 | 11.68 | 14.29 | 12.94 | 17.20 | 15.40 | 12.78 | 12.58 | 6.17 |
Interest coverage measures a company's ability to make interest payments on its debt obligations. A higher interest coverage ratio indicates that a company is more capable of meeting its interest expenses.
Analyzing Bio-Techne Corp's interest coverage over the past few quarters, we can see fluctuations in the ratio. The interest coverage ratio has been consistently above 10 for the past few years, which is generally considered a healthy sign. The company's interest coverage has shown an increasing trend from 6.17 in the third quarter of 2019 to a peak of 33.82 in the first quarter of 2023, indicating a strong ability to cover interest expenses.
However, there have been some fluctuations in the ratio, with occasional decreases followed by increases over the quarters. For example, the interest coverage ratio decreased from 33.82 in the first quarter of 2023 to 12.91 in the most recent quarter of June 2024. While this decrease may raise some concerns, it is important to consider the overall trend and the fact that the ratio remains above 10 in all periods, indicating a relatively stable financial position.
Overall, Bio-Techne Corp's interest coverage ratio demonstrates a generally healthy ability to cover its interest expenses, although investors and analysts may want to monitor any future fluctuations in the ratio to assess the company's financial health and risk management.