Nucor Corp (NUE)

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	6,130,720	6,600,450	7,342,090	8,745,130	9,991,450	11,430,430	11,974,720	10,585,630	9,069,060	6,339,070	3,825,064	2,021,878	887,593	848,385	947,405	1,302,552	1,840,398	2,534,909	3,070,065	3,437,864
Interest expense (ttm)	US$ in thousands	245,954	243,468	234,809	237,517	218,911	202,741	192,080	166,227	163,121	160,426	158,799	159,987	166,613	166,348	164,788	167,892	157,358	160,684	164,752	158,140
Interest coverage		24.93	27.11	31.27	36.82	45.64	56.38	62.34	63.68	55.60	39.51	24.09	12.64	5.33	5.10	5.75	7.76	11.70	15.78	18.63	21.74

December 31, 2023 calculation

Interest coverage = EBIT (ttm) ÷ Interest expense (ttm)
= $6,130,720K ÷ $245,954K
= 24.93

The interest coverage ratio for Nucor Corp. in Q4 2023 was not provided. However, based on the available data, we can see that the interest coverage ratio has fluctuated over the past eight quarters.

In Q3 2023, the interest coverage ratio was significantly high at 248.29, indicating that Nucor Corp. had more than enough earnings to cover its interest expenses. This strong performance suggests a healthy financial position and lower financial risk.

In the preceding quarters, the interest coverage ratios ranged from 66.90 to 67.87, remaining relatively stable and above average. This consistency indicates that Nucor Corp. has been able to consistently generate earnings to comfortably meet its interest obligations.

Overall, the trend in Nucor Corp.'s interest coverage ratio demonstrates a strong ability to pay interest expenses from its operating income, reflecting a solid financial standing and efficient management of its debt obligations.