Cognex Corporation (CGNX)

Interest coverage

Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Earnings before interest and tax (EBIT) US$ in thousands 115,065 130,702 246,229 315,101 170,529
Interest expense US$ in thousands 16,319 27,881 37,917
Interest coverage 15.09 11.30 4.50

December 31, 2024 calculation

Interest coverage = EBIT ÷ Interest expense
= $115,065K ÷ $—K
= —

Cognex Corporation's interest coverage has shown a positive trend over the years. The interest coverage ratio has improved from 4.50 in December 31, 2020, to 11.30 in December 31, 2021, and further increased to 15.09 in December 31, 2022. This signifies that the company's ability to cover its interest expenses with operating income has strengthened significantly. Notably, the data for December 31, 2023, and December 31, 2024 is not available (denoted by '\u2014'), which could indicate incomplete information or a shift in reporting practices. Overall, the increasing trend in interest coverage ratios reflects Cognex Corporation's improved financial health and ability to meet its interest obligations comfortably.