IPG Photonics Corporation (IPGP)

Interest coverage

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Earnings before interest and tax (EBIT)	US$ in thousands	231,973	169,500	367,883	198,659	233,793
Interest expense	US$ in thousands	41,735	12,620	-1,839	59,435	14,238
Interest coverage		5.56	13.43	—	3.34	16.42

December 31, 2023 calculation

Interest coverage = EBIT ÷ Interest expense
= $231,973K ÷ $41,735K
= 5.56

Based on the available data, the interest coverage ratio for IPG Photonics Corp was not reported for the years ending December 31, 2023, and 2020. However, in December 31, 2022, the interest coverage ratio was 191.82, indicating that the company's operating income was 191.82 times higher than its interest expense for that year. The high interest coverage ratio suggests that the company had a strong ability to meet its interest obligations using its operating income. Without additional data for the other years, it is difficult to assess the trend in interest coverage over time.