Glaukos Corp (GKOS)
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 | -120,129 | -114,592 | -111,431 | -124,645 | -84,709 | -75,767 | -42,074 | -13,815 | -35,895 | -28,476 | -50,673 | -83,902 | -123,553 | -141,858 | -141,921 | -100,964 | -50,292 | -18,698 | -13,220 | -11,228 |
| Interest expense (ttm) | US$ in thousands | 13,633 | 13,614 | 13,697 | 13,712 | 13,720 | 13,735 | 13,667 | 13,559 | 13,372 | 15,579 | 17,898 | 17,682 | 15,334 | 10,227 | 5,523 | 3,446 | 2,633 | 2,117 | 2,102 | 2,733 |
| Interest coverage | -8.81 | -8.42 | -8.14 | -9.09 | -6.17 | -5.52 | -3.08 | -1.02 | -2.68 | -1.83 | -2.83 | -4.75 | -8.06 | -13.87 | -25.70 | -29.30 | -19.10 | -8.83 | -6.29 | -4.11 |
December 31, 2023 calculation
Interest coverage = EBIT (ttm) ÷ Interest expense (ttm)
= $-120,129K ÷ $13,633K
= -8.81
Glaukos Corporation's interest coverage has been declining steadily over the past eight quarters, with negative values indicating that the company's earnings before interest and taxes (EBIT) are insufficient to cover its interest expenses. This trend suggests that Glaukos may be facing financial distress as its ability to meet interest obligations has weakened over time. The most recent interest coverage ratio of -27.68 in Q4 2023 is particularly concerning, indicating a significant deterioration in the company's financial health. It is essential for Glaukos Corporation to closely monitor its interest coverage and take corrective measures to improve its financial stability and avoid potential debt default risks.
Peer comparison
Dec 31, 2023