Table 8

Solvency ratios

YearUHBVNLDHBVNL
ICRDERCDNWNCANWICRDERCDNWNCANW
2005–06−3.171.761.411.021.50.931.541.31
2006–07−2.182.261.491.22−0.921.321.181.37
2007–08−2.773.141.091.49−1.450.171.211.91
2008–09−2.234.931.071.75−0.482.521.632.25
2009–10−0.696.321.342.17−2.13.271.852.32
2010–110.826.332.635.2−1.13.832.222.59
2011–12−0.866.93.235.37−1.883.802.982.46
2012–13−0.378.772.394.45−0.456.161.751.89
2013–140.0910.491.954.34−1.118.181.972.28
2014–15−0.0611.722.253.40.3310.391.622.29
2015–160.778.391.871.990.739.311.732.34
2016–170.844.430.461.11.013.611.761.63
2017–181.241.171.141.021.172.651.571.63
2018–191.210.330.550.551.180.560.630.73
2019–201.360.270.230.431.320.420.240.55
2020–211.930.340.190.491.750.430.370.54
2021–223.000.380.250.501.580.430.380.57
2022–231.620.430.320.532.960.510.440.60
Mean0.104.151.271.980.213.121.351.57
S.D.1.663.690.901.651.373.120.720.74
Variance2.7613.630.802.741.889.740.510.55
CAGR (%)−1.95−14.50−11.50−8.90−0.02−5.60−8.30−7.40

Note(s): ICR – Interest Coverage Ratio, DER – Debt Equity Ratio, CDNW, Current Debt-to-Net-Worth Ratio, NCANW – Non-Current Assets to Net Worth Ratio, S.D. – Standard Deviation, CAGR – Compound Annual Growth Rate

Source(s): Table by authors

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