ViaSat Inc (VSAT)

Solvency ratios

	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	Jun 30, 2019
Debt-to-assets ratio	0.27	0.26	0.25	0.20	0.22	0.25	0.26	0.26	0.26	0.28	0.28	0.28	0.31	0.32	0.32	0.34	0.26	0.28	0.29	0.32
Debt-to-capital ratio	0.46	0.46	0.46	0.38	0.31	0.39	0.39	0.39	0.39	0.39	0.39	0.39	0.42	0.42	0.42	0.45	0.39	0.39	0.39	0.41
Debt-to-equity ratio	0.87	0.85	0.83	0.61	0.44	0.65	0.65	0.64	0.64	0.64	0.64	0.64	0.72	0.73	0.74	0.81	0.63	0.64	0.65	0.70
Financial leverage ratio	3.25	3.26	3.29	3.01	2.02	2.63	2.51	2.44	2.43	2.31	2.27	2.29	2.27	2.26	2.28	2.37	2.41	2.25	2.19	2.17

ViaSat Inc's solvency ratios provide insight into the company's ability to meet its long-term debt obligations.

1. Debt-to-assets ratio: This ratio has ranged from 0.20 to 0.34 over the past eight quarters, indicating that ViaSat Inc has maintained a relatively stable proportion of debt in relation to its total assets. A lower ratio implies less reliance on debt financing for assets.

2. Debt-to-capital ratio: ViaSat Inc's debt-to-capital ratio has ranged from 0.31 to 0.46 over the same period. The fluctuations in this ratio suggest varying levels of reliance on debt and equity for financing operations. A higher ratio indicates a greater proportion of the company's capital structure is composed of debt.

3. Debt-to-equity ratio: The company's debt-to-equity ratio has ranged from 0.44 to 0.87, showing fluctuations in the level of debt relative to equity. A higher ratio indicates a higher level of financial risk as it signifies a larger portion of financing comes from debt rather than equity.

4. Financial leverage ratio: ViaSat Inc's financial leverage ratio has ranged from 2.02 to 3.29, reflecting the extent to which the company is using debt to finance its operations. Higher leverage ratios indicate a higher level of financial risk due to increased reliance on debt financing.

Overall, the analysis reveals that ViaSat Inc has maintained a relatively stable solvency position over the past eight quarters, with fluctuations in debt ratios reflecting changes in the company's capital structure and financing decisions. Investors and stakeholders should monitor these ratios to assess the company's long-term financial health and risk management practices.

Coverage ratios

	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	Jun 30, 2019
Interest coverage	-2.02	-3.16	-5.68	-1.20	-4.08	-2.77	-3.01	-4.84	-2.91	-4.81	-2.39	-0.83	-1.41	1.21	0.95	1.11	0.99	0.85	0.57	-0.28

ViaSat Inc's interest coverage ratio has varied significantly over the past few quarters, with values ranging from negative to positive. The interest coverage ratio indicates the company's ability to meet its interest obligations with its operating profits.

For the most recent quarter ending March 31, 2024, the interest coverage ratio was -2.02, suggesting that the company's operating profits were not sufficient to cover its interest expenses. This negative ratio indicates a potential risk for financial distress.

The trend over the last few quarters shows a fluctuating pattern, with some quarters showing improved interest coverage ratios but others demonstrating weakened coverage. The company experienced particularly low ratios in September and December of 2023, and again in March of 2021, indicating significant challenges in meeting interest payments during those periods.

The trend indicates that ViaSat Inc has had difficulty consistently generating enough operating income to cover its interest expenses, which may raise concerns about its financial stability and ability to fulfill its debt obligations. Investors and creditors may closely monitor this ratio to assess the company's risk profile and financial health.