Calix Inc (CALX)
Interest coverage
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | -43,034 | -37,132 | -10,307 | 12,860 | 24,828 | 50,069 | 54,145 | 52,035 | 51,952 | 53,413 | 51,399 | 62,227 | 73,176 | 84,096 | 87,855 | 63,879 | 36,752 | 13,472 | -8,655 | -10,016 |
| Interest expense (ttm) | US$ in thousands | 5,174 | 11,719 | 13,933 | 13,677 | 12,650 | 7,244 | 5,625 | 3,447 | 2,009 | 942 | 433 | 312 | 402 | 652 | 922 | 1,420 | 1,585 | 1,700 | 1,615 | 1,140 |
| Interest coverage | -8.32 | -3.17 | -0.74 | 0.94 | 1.96 | 6.91 | 9.63 | 15.10 | 25.86 | 56.70 | 118.70 | 199.45 | 182.03 | 128.98 | 95.29 | 44.99 | 23.19 | 7.92 | -5.36 | -8.79 |
December 31, 2024 calculation
Interest coverage = EBIT (ttm) ÷ Interest expense (ttm)
= $-43,034K ÷ $5,174K
= -8.32
Calix Inc's interest coverage ratio has shown significant fluctuations over the past few years. The ratio was negative in the earlier periods from March 31, 2020, to June 30, 2021, indicating that the company's earnings were insufficient to cover its interest expenses during those periods.
However, starting from September 30, 2021, the interest coverage ratio improved substantially, reaching its peak at March 31, 2022. This indicates a strong ability to meet interest payments from operating income during this period.
From June 30, 2022, to December 31, 2024, the interest coverage ratio declined gradually, eventually becoming negative again by the end of December 31, 2024. This decreasing trend could raise concerns about Calix Inc's ability to cover interest expenses with its operating income in the later periods.
Overall, it is important for investors and creditors to closely monitor the interest coverage ratio of Calix Inc to assess the company's financial health and its ability to service its debt obligations.
Peer comparison
Dec 31, 2024