Axcelis Technologies Inc (ACLS)
Interest coverage
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) | US$ in thousands | 265,795 | 212,361 | 127,325 | 58,041 | 24,205 |
| Interest expense | US$ in thousands | 5,347 | 5,576 | 4,835 | 5,211 | 5,155 |
| Interest coverage | 49.71 | 38.08 | 26.33 | 11.14 | 4.70 |
December 31, 2023 calculation
Interest coverage = EBIT ÷ Interest expense
= $265,795K ÷ $5,347K
= 49.71
The interest coverage ratio for Axcelis Technologies Inc has shown a consistent improvement over the years, indicating the company's ability to meet its interest payments comfortably. The ratio increased significantly from 11.00 in 2019 to 27.52 in 2021 and further improved to 207.18 in 2022, demonstrating a strong financial position. However, it is noted that the interest coverage ratio for 2023 is not provided in the data. Overall, the trend suggests that Axcelis Technologies Inc has been effectively managing its interest expense in recent years, which is a positive indicator of the company's financial health.
Peer comparison
Dec 31, 2023