Exelixis Inc (EXEL)

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	170,885	41,019	141,215	147,071	201,484	366,206	335,214	374,516	286,666	194,319	100,118	52,644	110,060	163,079	321,265	337,720	369,470	408,525	421,874	418,280
Interest expense (ttm)	US$ in thousands	26,303	37,623	47,121	51,923	27,442	16,122	6,624	1,822	0	0	0	0	0	0	0	0	0	-1	0	0
Interest coverage		6.50	1.09	3.00	2.83	7.34	22.71	50.61	205.55	—	—	—	—	—	—	—	—	—	—	—	—

December 31, 2023 calculation

Interest coverage = EBIT (ttm) ÷ Interest expense (ttm)
= $170,885K ÷ $26,303K
= 6.50

Exelixis Inc's interest coverage ratio has shown fluctuation over the periods reported. The interest coverage ratio measures the company's ability to meet its interest payments on outstanding debt.

In the most recent period, as of December 31, 2023, Exelixis Inc's interest coverage ratio was 6.50. This indicates that the company generated 6.50 times the earnings needed to cover its interest expenses, suggesting a moderate ability to meet its interest obligations.

Compared to the previous periods, the interest coverage ratio has varied significantly. For instance, the ratio was notably low at 1.09 in September 2023, indicating a lower ability to cover interest expenses at that time. Conversely, the ratio spiked to 205.55 in March 2022, reflecting a strong ability to cover interest expenses with earnings generated.

Overall, while there have been fluctuations in Exelixis Inc's interest coverage ratio, the company has shown periods of both strength and challenge in meeting its interest payment obligations in the past.