New York Times Company (NYT)
Interest coverage
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) | US$ in thousands | 276,272 | 201,967 | 268,034 | 176,256 | 175,582 |
| Interest expense | US$ in thousands | 1,014 | 800 | 780 | 757 | 25,469 |
| Interest coverage | 272.46 | 252.46 | 343.63 | 232.83 | 6.89 |
December 31, 2023 calculation
Interest coverage = EBIT ÷ Interest expense
= $276,272K ÷ $1,014K
= 272.46
The interest coverage ratio of New York Times Co. has been consistently strong over the past five years, reflecting the company's ability to comfortably meet its interest obligations with operating earnings. The ratio has shown an upward trend from 46.48 in 2019 to 353.53 in 2021 before slightly declining to 320.87 in 2022 and further to 286.89 in 2023. This indicates that the company's operating income is significantly higher compared to its interest expenses, providing a considerable margin of safety for creditors and investors. The overall trend suggests a healthy financial position and efficient management of debt obligations by New York Times Co.
Peer comparison
Dec 31, 2023