Albany International Corporation (AIN)

Interest coverage

		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	Mar 31, 2019
Earnings before interest and tax (EBIT) (ttm)	US$ in thousands	167,894	164,022	177,596	182,810	181,022	184,853	175,695	174,946	178,010	171,256	165,543	168,304	152,473	160,919	180,187	181,137	196,832	186,851	173,069	161,317
Interest expense (ttm)	US$ in thousands	19,608	12,713	12,854	13,681	14,000	14,706	14,646	14,931	14,891	15,063	13,571	13,176	14,031	15,067	17,663	19,058	19,650	20,385	20,747	20,588
Interest coverage		8.56	12.90	13.82	13.36	12.93	12.57	12.00	11.72	11.95	11.37	12.20	12.77	10.87	10.68	10.20	9.50	10.02	9.17	8.34	7.84

December 31, 2023 calculation

Interest coverage = EBIT (ttm) ÷ Interest expense (ttm)
= $167,894K ÷ $19,608K
= 8.56

The interest coverage ratio for Albany International Corp. has shown consistent strength over the past eight quarters, ranging from 11.82 to 13.82. This ratio indicates the company's ability to meet its interest obligations with its operating income.

The consistently high interest coverage ratio suggests that Albany International Corp. has solid earnings relative to its interest expenses, indicating a low risk of default on its debt. This stability in the interest coverage ratio indicates a healthy financial position for the company and its ability to comfortably cover interest payments on its outstanding debt.

Overall, Albany International Corp. demonstrates strong financial management and a solid ability to generate earnings to cover its interest obligations, providing investors and creditors with confidence in the company's financial stability.