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.
Peer comparison
Dec 31, 2023