Kelly Services A Inc (KELYA)

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	28,100	-68,300	193,700	-103,000	117,000
Interest expense	US$ in thousands	3,200	2,100	2,500	3,000	4,200
Interest coverage		8.78	-32.52	77.48	-34.33	27.86

December 31, 2023 calculation

Interest coverage = EBIT ÷ Interest expense
= $28,100K ÷ $3,200K
= 8.78

The interest coverage ratio for Kelly Services, Inc. has been fluctuating over the past five fiscal years. In 2019, the interest coverage ratio was 26.35, reflecting a strong ability to cover interest expenses. However, this ratio decreased to 9.50 in 2021 before increasing to 23.48 in 2022. Unfortunately, the data for 2023 is missing, hence making it difficult to assess the current trend accurately. It is essential for stakeholders to monitor future interest coverage ratios to gauge Kelly Services, Inc.'s ability to meet its interest obligations in a timely manner.