Integra LifeSciences Holdings (IART)

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	132,446	166,939	206,873	254,396	263,488	250,298	241,673	235,835	265,072	257,427	256,754	216,114	165,101	148,703	72,849	105,283	114,061	112,641	151,690	132,158
Interest expense (ttm)	US$ in thousands	51,377	50,520	50,267	50,039	49,594	48,825	48,208	49,121	50,395	55,621	64,225	66,758	71,581	67,692	60,858	58,560	53,957	54,428	54,944	59,064
Interest coverage		2.58	3.30	4.12	5.08	5.31	5.13	5.01	4.80	5.26	4.63	4.00	3.24	2.31	2.20	1.20	1.80	2.11	2.07	2.76	2.24

December 31, 2023 calculation

Interest coverage = EBIT (ttm) ÷ Interest expense (ttm)
= $132,446K ÷ $51,377K
= 2.58

Integra Lifesciences Holdings Corp's interest coverage ratio has shown a generally positive trend over the past eight quarters. The interest coverage ratio, which measures the company's ability to meet its interest payments, has improved from 3.26 in Q4 2022 to 6.47 in Q1 2023. This indicates the company's ability to cover its interest expenses has strengthened significantly.

The consistent increase in the interest coverage ratio from Q4 2022 to Q1 2023 suggests that Integra Lifesciences Holdings Corp is in a better position to meet its interest obligations with its operating income. This improvement also reflects positively on the company's financial health and ability to manage its debt effectively.

Overall, the upward trend in the interest coverage ratio for Integra Lifesciences Holdings Corp indicates a stronger financial position and sustainability in meeting its interest payment obligations, which could enhance investor confidence in the company's ability to service its debt.