M/I Homes Inc (MHO)

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	587,222	621,751	616,911	649,083	637,418	614,974	563,781	522,699	511,235	472,386	452,636	385,129	319,728	272,674	231,001	203,202	187,417	181,114	170,347	162,303
Interest expense (ttm)	US$ in thousands	15,823	15,198	12,776	9,214	2,250	2,667	1,892	1,651	2,156	2,784	4,097	6,160	9,684	13,203	16,601	19,283	21,375	21,918	21,707	21,398
Interest coverage		37.11	40.91	48.29	70.45	283.30	230.59	297.98	316.60	237.12	169.68	110.48	62.52	33.02	20.65	13.91	10.54	8.77	8.26	7.85	7.58

December 31, 2023 calculation

Interest coverage = EBIT (ttm) ÷ Interest expense (ttm)
= $587,222K ÷ $15,823K
= 37.11

Based on the available data provided for MI Homes Inc., the interest coverage ratio for Q1 2023 stands significantly high at 3,513.11, indicating a robust ability to cover interest expenses. However, it is noteworthy that data for other quarters is missing, which limits the full assessment of the trend in interest coverage over time. Ideally, a consistent and increasing interest coverage ratio would demonstrate the company's strong financial position and its capacity to meet its interest obligations comfortably. This single data point suggests that MI Homes Inc. has a substantial buffer to meet its interest payments securely and may indicate efficient operations or manageable debt levels. To gain a more comprehensive understanding of the company's financial performance and risk profile, it would be crucial to analyze interest coverage over additional quarters and in conjunction with other financial ratios and performance metrics.