Unifirst Corporation (UNF)
Solvency ratios
| Feb 24, 2024 | Nov 25, 2023 | Aug 26, 2023 | Feb 25, 2023 | Nov 26, 2022 | Aug 27, 2022 | May 28, 2022 | Feb 26, 2022 | Nov 27, 2021 | Aug 28, 2021 | May 29, 2021 | Feb 27, 2021 | Nov 28, 2020 | Aug 29, 2020 | May 30, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | May 25, 2019 | Feb 23, 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 | 1.28 | 1.28 | 1.28 | 1.26 | 1.26 | 1.27 | 1.27 | 1.27 | 1.27 | 1.27 | 1.27 | 1.26 | 1.26 | 1.26 | 1.26 | 1.27 | 1.27 | 1.25 | 1.23 | 1.24 |
Unifirst Corporation's solvency ratios provide insights into the company's ability to meet its long-term financial obligations. The debt-to-assets, debt-to-capital, and debt-to-equity ratios consistently show a value of 0.00 across the various reporting periods, indicating that the company has not relied on debt to finance its operations and has a strong capital structure that is predominantly equity-funded.
The financial leverage ratio, on the other hand, has shown some fluctuations over the periods, ranging from 1.23 to 1.28. This ratio, which measures the extent to which the company relies on debt financing, suggests that Unifirst Corporation has maintained a relatively stable level of financial leverage, with the ratio hovering around 1.27 on average.
Overall, the company's solvency ratios point towards a conservative approach to capital structure and a low reliance on debt, which may indicate a lower risk of financial distress and a strong ability to weather economic downturns.
Coverage ratios
| Feb 24, 2024 | Nov 25, 2023 | Aug 26, 2023 | Feb 25, 2023 | Nov 26, 2022 | Aug 27, 2022 | May 28, 2022 | Feb 26, 2022 | Nov 27, 2021 | Aug 28, 2021 | May 29, 2021 | Feb 27, 2021 | Nov 28, 2020 | Aug 29, 2020 | May 30, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | May 25, 2019 | Feb 23, 2019 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 17.82 | 15.79 | 12.33 | 20.65 | 31.81 | 47.12 | 66.23 | 65.65 | 69.70 | 76.26 | 66.24 | 50.42 | 36.76 | 27.07 | 22.03 | 22.55 | 24.82 | 25.55 | 28.02 | 30.74 |
The interest coverage ratio of Unifirst Corporation has shown a generally positive trend over the past few years, indicating the company's ability to meet its interest payment obligations. The ratio has consistently remained at healthy levels, with the latest figure being 17.82 for February 24, 2024. This suggests that the company's operating income is significantly higher than its interest expenses, providing a comfortable buffer to cover interest payments.
The highest interest coverage ratio in the provided data is 76.26 on August 28, 2021, indicating a robust financial position at that point in time. The lowest ratio of 12.33 on August 26, 2023, although lower in comparison, still demonstrates the company's ability to cover its interest expenses comfortably.
Overall, the trend of consistently high interest coverage ratios reflects a stable financial position for Unifirst Corporation, indicating its ability to manage debt effectively and generate sufficient operating income to meet its interest obligations.