Vista Outdoor Inc (VSTO)

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	0.30	0.31	0.29	0.32	0.35	0.32	0.38	0.00	0.28	0.30	0.25	0.27	0.28	0.23	0.24	0.32	0.37	0.34	0.35	0.40
Debt-to-capital ratio	0.39	0.41	0.39	0.43	0.47	0.43	0.49	0.00	0.37	0.41	0.35	0.38	0.40	0.34	0.38	0.48	0.54	0.46	0.50	0.55
Debt-to-equity ratio	0.64	0.71	0.64	0.75	0.87	0.76	0.97	0.00	0.59	0.69	0.53	0.62	0.67	0.52	0.60	0.91	1.16	0.87	0.98	1.24
Financial leverage ratio	2.13	2.27	2.24	2.38	2.47	2.34	2.52	1.97	2.13	2.29	2.16	2.31	2.39	2.32	2.49	2.84	3.15	2.56	2.77	3.13

Vista Outdoor Inc's solvency ratios show the company's ability to meet its long-term financial obligations. Over the past quarters, the debt-to-assets ratio has fluctuated between 0.23 and 0.40, suggesting that around 23% to 40% of the company's assets are financed by debt. The trend indicates moderate leverage with a slight decrease in the latest quarter.

Similarly, the debt-to-capital ratio has ranged from 0.34 to 0.55, indicating that debt contributes between 34% to 55% of the company's capital structure. The company's reliance on debt financing relative to total capital has varied, with a slight decrease in the latest quarter compared to the previous quarter.

The debt-to-equity ratio has shown fluctuations between 0.52 and 1.24, signifying the proportion of debt to equity in the company's capital structure. The trend indicates a varying degree of leverage and financial risk over the quarters, with a decrease in the latest quarter compared to the previous quarter.

The financial leverage ratio, which reflects the company's total assets supported by equity, has ranged between 1.97 and 3.15. This ratio has shown fluctuations, indicating changes in the company's capital structure and financial risk over time.

Overall, Vista Outdoor Inc's solvency ratios reflect a varying degree of leverage and debt utilization in its capital structure. The company has shown some fluctuations in its solvency metrics, suggesting changes in the company's long-term financial stability and risk profile.

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	5.00	—	—	11.74	16.30	12.01	18.18	26.07	25.58	22.68	20.80	16.33	12.12	2.56	-0.20	-2.32	-3.40	-0.49	-11.03	-10.49

The interest coverage ratio for Vista Outdoor Inc fluctuated significantly over the provided time period. It reached its highest point in June 2022 at 26.07 and had consistently strong levels from March 2022 to June 2022, indicating the company's ability to cover its interest expenses over 25 times. However, there was a significant drop in interest coverage from September 2022 to December 2022, before recovering in March 2023.

The ratio fell below 1 multiple times in the earlier periods, indicating that the company did not earn enough operating income to cover its interest expenses during these quarters. This represents a higher financial risk for the company as it may struggle to meet its interest obligations during those periods. It is important for investors and analysts to closely monitor this ratio to assess the company's ability to service its debt and manage its financial obligations effectively.