Impinj Inc (PI)
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 | 33,559 | 17,168 | -1,204 | -38,840 | -23,819 | -10,045 | -13,120 | -19,194 | -39,417 | -50,817 | -48,859 | -48,557 | -43,860 | -44,461 | -52,284 | -46,421 | -39,203 | -29,823 | -17,370 | -20,995 |
| Interest expense (ttm) | US$ in thousands | 4,867 | 4,861 | 4,855 | 4,848 | 4,840 | 4,832 | 4,871 | 4,923 | 4,690 | 4,011 | 3,286 | 2,550 | 2,968 | 3,802 | 4,626 | 5,413 | 4,552 | 3,605 | 2,677 | 1,794 |
| Interest coverage | 6.90 | 3.53 | -0.25 | -8.01 | -4.92 | -2.08 | -2.69 | -3.90 | -8.40 | -12.67 | -14.87 | -19.04 | -14.78 | -11.69 | -11.30 | -8.58 | -8.61 | -8.27 | -6.49 | -11.70 |
September 30, 2024 calculation
Interest coverage = EBIT (ttm) ÷ Interest expense (ttm)
= $33,559K ÷ $4,867K
= 6.90
Impinj Inc's interest coverage ratio has fluctuated significantly over the past five years. The interest coverage ratio measures the company's ability to meet interest payments on its debt obligations from its earnings.
Looking at the data provided, the interest coverage ratio was positive and healthy for the most recent quarter, at 6.90. This indicates that Impinj Inc's earnings were sufficient to cover its interest expenses nearly seven times over during that period.
However, in the three preceding quarters, the interest coverage ratio was below 1, signaling a potential concern as the company's earnings were not adequate to cover its interest expenses. This trend suggests that Impinj Inc may have been facing challenges in meeting its interest payments during those periods.
It is noteworthy that the interest coverage ratio was particularly low and negative in the quarters ending in March 2022 and December 2021, indicating a significantly strained financial position during those periods.
Overall, Impinj Inc's interest coverage has been volatile, with periods of strength and weakness. Investors and stakeholders should carefully monitor future financial performance to assess the company's ability to meet its debt obligations.
Peer comparison
Sep 30, 2024