Bloomin Brands Inc (BLMN)
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 | 325,144 | 330,421 | 308,958 | -174,973 | 191,090 |
| Interest expense | US$ in thousands | 694 | 172 | 129 | 160 | 264 |
| Interest coverage | 468.51 | 1,921.05 | 2,395.02 | -1,093.58 | 723.83 |
December 31, 2023 calculation
Interest coverage = EBIT ÷ Interest expense
= $325,144K ÷ $694K
= 468.51
Bloomin Brands Inc's interest coverage ratio has shown an improving trend over the past five years, with a notable increase from 4.06 in 2019 to 6.88 in 2023. This indicates the company's ability to meet its interest obligations has strengthened over this period. However, it is worth noting that there was a significant decline in 2020 when the ratio fell into negative territory at -1.53, suggesting the company had insufficient earnings to cover its interest expense that year. Despite this, Bloomin Brands Inc has managed to recover and improve its interest coverage ratio in the subsequent years. Overall, the upward trend in the interest coverage ratio indicates a positive aspect of the company's financial health and its ability to service its debt obligations.
Peer comparison
Dec 31, 2023