N-Able Inc (NABL)
Interest coverage
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|
| Earnings before interest and tax (EBIT) | US$ in thousands | 70,319 | 47,396 | 33,330 |
| Interest expense | US$ in thousands | 1,601 | 1,623 | 732 |
| Interest coverage | 43.92 | 29.20 | 45.53 |
December 31, 2023 calculation
Interest coverage = EBIT ÷ Interest expense
= $70,319K ÷ $1,601K
= 43.92
Interest coverage is a financial ratio that measures a company's ability to pay its interest expenses with its operating income. A higher interest coverage ratio indicates a stronger ability to meet interest obligations.
In the case of N-Able Inc, the interest coverage ratio has shown some fluctuation over the past three years. In 2021, the interest coverage ratio was 45.53, indicating a strong ability to cover its interest expenses with operating income. However, in 2022, the ratio decreased to 29.20, suggesting a lower ability to cover interest costs compared to the previous year.
The latest data for 2023 shows a significant improvement in the interest coverage ratio to 43.92, indicating a strong recovery in the company's ability to cover interest expenses with operating income. Overall, N-Able Inc's interest coverage has shown variability over the years, but the latest figures suggest a positive trend in the company's financial position in terms of meeting its interest obligations.
Peer comparison
Dec 31, 2023