National Fuel Gas Company (NFG)

Interest coverage

		Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Earnings before interest and tax (EBIT) (ttm)	US$ in thousands	209,723	531,596	737,132	707,886	755,146	807,638	834,239	859,228	814,517	768,995	738,368	706,041	639,924	333,672	263,999	25,380	29,858	287,777	320,207	498,146
Interest expense (ttm)	US$ in thousands	151,604	135,602	134,818	133,173	131,885	132,479	134,360	132,514	130,358	127,293	124,552	143,472	146,356	150,286	147,614	124,258	117,077	109,395	107,340	107,238
Interest coverage		1.38	3.92	5.47	5.32	5.73	6.10	6.21	6.48	6.25	6.04	5.93	4.92	4.37	2.22	1.79	0.20	0.26	2.63	2.98	4.65

September 30, 2024 calculation

Interest coverage = EBIT (ttm) ÷ Interest expense (ttm)
= $209,723K ÷ $151,604K
= 1.38

National Fuel Gas Company's interest coverage ratio has fluctuated over the past several quarters. The interest coverage ratio indicates the company's ability to meet its interest payments on outstanding debt with its operating income.

In the most recent quarter ending September 30, 2024, the interest coverage ratio was 1.38, indicating that the company's operating income was able to cover its interest expenses 1.38 times over. This ratio shows a decline compared to the previous quarter, which had a ratio of 3.92.

Looking at the trend over the past few quarters, National Fuel Gas Company's interest coverage ratio has generally been above 1, indicating that the company's operating income has been able to cover its interest expenses. However, there have been fluctuations in the ratio, with some quarters showing stronger coverage than others.

It is important for investors and stakeholders to monitor National Fuel Gas Company's interest coverage ratio closely to assess the company's ability to meet its debt obligations and manage its financial risk effectively. A declining trend in the interest coverage ratio may raise concerns about the company's financial health and ability to service its debt.