Integer Holdings Corp (ITGR)
Interest coverage
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) | US$ in thousands | 203,937 | 157,668 | 113,558 | 125,654 | 120,430 |
| Interest expense | US$ in thousands | 56,374 | 53,370 | 38,632 | 31,628 | 38,220 |
| Interest coverage | 3.62 | 2.95 | 2.94 | 3.97 | 3.15 |
December 31, 2024 calculation
Interest coverage = EBIT ÷ Interest expense
= $203,937K ÷ $56,374K
= 3.62
Based on the provided data, Integer Holdings Corp's interest coverage ratio has shown some fluctuations over the past five years. In December 2020, the interest coverage ratio was 3.15, indicating that the company earned 3.15 times the interest expenses incurred during that period.
Subsequently, the interest coverage ratio improved to 3.97 by December 2021, suggesting that the company's ability to cover its interest payments strengthened. However, there was a slight decline in the ratio to 2.94 by December 2022, which may raise concerns about the company's ability to meet its interest obligations comfortably.
In December 2023 and 2024, the interest coverage ratios remained relatively stable at 2.95 and 3.62, respectively. While these ratios indicate that Integer Holdings Corp's earnings were still able to cover its interest expenses, it is important to monitor future performance to ensure the company maintains a healthy interest coverage ratio to meet its debt obligations effectively.
Peer comparison
Dec 31, 2024