Carlisle Companies Incorporated (CSL)
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 | 1,039,100 | 1,065,900 | 1,060,700 | 1,188,300 | 1,316,100 | 1,218,200 | 1,066,700 | 792,400 | 600,400 | 529,200 | 488,900 | 467,800 | 478,200 | 508,200 | 546,100 | 638,500 | 663,100 | 636,400 | 584,900 | 535,000 |
| Interest expense (ttm) | US$ in thousands | 3,000 | -7,800 | -4,600 | -900 | 2,900 | 11,000 | 8,200 | 4,900 | 1,500 | 1,700 | 1,000 | 1,500 | 1,200 | 9,300 | 6,900 | 3,800 | 1,200 | 2,600 | 2,200 | -200 |
| Interest coverage | 346.37 | — | — | — | 453.83 | 110.75 | 130.09 | 161.71 | 400.27 | 311.29 | 488.90 | 311.87 | 398.50 | 54.65 | 79.14 | 168.03 | 552.58 | 244.77 | 265.86 | — |
December 31, 2023 calculation
Interest coverage = EBIT (ttm) ÷ Interest expense (ttm)
= $1,039,100K ÷ $3,000K
= 346.37
The interest coverage ratio of Carlisle Companies Inc. has shown a strong and consistent increasing trend over the past eight quarters, indicating the company's improving ability to cover its interest expense from its operating income. The ratio has steadily increased from 9.09 in Q1 2022 to 17.66 in Q4 2023.
This upward trend suggests that Carlisle Companies Inc. has been able to generate significantly more operating income relative to its interest expenses. The substantial improvement in interest coverage ratio signifies the company's enhanced financial health and decreased risk of defaulting on its debt obligations.
The consistent and robust interest coverage ratios reflect Carlisle Companies Inc.'s strong operational performance and financial management, demonstrating the company's capacity to comfortably meet its interest payments and potentially pursue further growth opportunities.
Peer comparison
Dec 31, 2023