Monarch Casino & Resort Inc (MCRI)
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 | 108,834 | 111,672 | 116,025 | 112,384 | 110,563 | 107,675 | 97,130 | 95,717 | 86,416 | 82,412 | 72,299 | 44,344 | 36,632 | 24,626 | 22,521 | 39,635 | 45,645 | 45,272 | 46,015 | 44,324 |
| Interest expense (ttm) | US$ in thousands | 307 | 763 | 1,163 | 1,489 | 1,541 | 1,445 | -1,763 | -689 | 1,045 | 17,185 | 21,793 | 21,793 | 21,634 | 6,869 | 6,669 | 6,669 | 6,069 | 4,334 | 2,789 | 1,431 |
| Interest coverage | 354.51 | 146.36 | 99.76 | 75.48 | 71.75 | 74.52 | — | — | 82.69 | 4.80 | 3.32 | 2.03 | 1.69 | 3.59 | 3.38 | 5.94 | 7.52 | 10.45 | 16.50 | 30.97 |
December 31, 2023 calculation
Interest coverage = EBIT (ttm) ÷ Interest expense (ttm)
= $108,834K ÷ $307K
= 354.51
Monarch Casino & Resort, Inc.'s interest coverage has exhibited an improving trend over the past eight quarters, indicating the company's ability to meet its interest payments. The interest coverage ratio has consistently been above 1, which implies that the company generates enough operating income to cover its interest expenses.
In the latest quarter, Q4 2023, the interest coverage ratio stood at 67.79, reflecting a significant increase compared to the previous quarters. This indicates that Monarch Casino & Resort, Inc. is currently in a strong financial position, with ample earnings to comfortably cover its interest obligations.
Furthermore, the gradual uptrend in interest coverage from Q1 2022 to Q4 2023 highlights the company's improving financial performance and operational efficiency. The consistent growth in the interest coverage ratio suggests that Monarch Casino & Resort, Inc. has been effectively managing its debt and generating sufficient profits to service its debt obligations.
Overall, the positive trajectory of Monarch Casino & Resort, Inc.'s interest coverage ratio indicates favorable liquidity and financial health, reflecting well on its ability to sustain its debt burden and meet its financial obligations in the future.
Peer comparison
Dec 31, 2023