Coterra Energy Inc (CTRA)

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	2,201,000	2,944,000	4,045,000	5,369,000	5,279,000	5,189,000	3,748,000	2,192,000	1,568,000	485,892	384,359	384,075	295,476	354,793	492,103	689,192	955,750	1,074,219	1,120,493	947,717
Interest expense (ttm)	US$ in thousands	73,000	97,000	100,000	106,000	110,000	94,000	84,000	62,709	42,424	58,190	48,923	48,965	49,000	2,981	3,003	3,627	3,966	4,329	4,705	4,525
Interest coverage		30.15	30.35	40.45	50.65	47.99	55.20	44.62	34.96	36.96	8.35	7.86	7.84	6.03	119.02	163.87	190.02	240.99	248.14	238.15	209.44

December 31, 2023 calculation

Interest coverage = EBIT (ttm) ÷ Interest expense (ttm)
= $2,201,000K ÷ $73,000K
= 30.15

Coterra Energy Inc's interest coverage ratio has shown fluctuations over the past eight quarters. The interest coverage ratio, which indicates the company's ability to service its interest payments on outstanding debt, ranged from a high of 61.20 in Q4 2023 to a low of 30.98 in Q1 2022.

The trend shows that the interest coverage ratio generally improved from Q1 2022 to Q4 2023, indicating a stronger ability to cover interest expenses. However, there were fluctuations within this overall trend, with some quarters showing lower ratios compared to the preceding quarter.

Overall, the interest coverage ratio of Coterra Energy Inc demonstrates a generally positive trend with some variability, suggesting the company's ability to meet its interest obligations has improved over the past eight quarters.