Pursuit Attractions and Hospitality, Inc. (PRSU)
Interest coverage
Mar 31, 2025 | Dec 31, 2024 | 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 | ||
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Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | -49,814 | -31,635 | 112,656 | 106,194 | 88,112 | 91,895 | 91,439 | 80,931 | 82,212 | 66,425 | 48,593 | 22,046 | -48,690 | -63,455 | -99,648 | -155,577 | -283,106 | -342,653 | -298,630 | -226,837 |
Interest expense (ttm) | US$ in thousands | 34,568 | 44,949 | 34,170 | 35,218 | 47,574 | 47,978 | 48,082 | 45,858 | 41,263 | 29,014 | 26,285 | 25,551 | 23,355 | 28,473 | 23,753 | 19,685 | 19,306 | 18,206 | 19,241 | 17,531 |
Interest coverage | -1.44 | -0.70 | 3.30 | 3.02 | 1.85 | 1.92 | 1.90 | 1.76 | 1.99 | 2.29 | 1.85 | 0.86 | -2.08 | -2.23 | -4.20 | -7.90 | -14.66 | -18.82 | -15.52 | -12.94 |
March 31, 2025 calculation
Interest coverage = EBIT (ttm) ÷ Interest expense (ttm)
= $-49,814K ÷ $34,568K
= -1.44
The interest coverage ratio of Pursuit Attractions and Hospitality, Inc. demonstrates a pattern of significant volatility over the analyzed period. At the outset, in June 2020, the ratio was notably negative at -12.94, indicating severe difficulty in covering interest expenses from earnings. Similarly, throughout 2020 and early 2021, the ratios remained negative and worsened, reaching as low as -18.82 in December 2020, reflecting persistent earnings deficits and heightened financial stress.
During 2021, the ratios showed gradual improvement, with values moving closer to zero—reaching -2.23 by the end of December 2021—yet still indicating insufficient earnings to comfortably cover interest payments. This trend continued into 2022, with the ratio turning positive in June (0.86) and increasing to 2.29 by the end of that year, signifying improved operating performance and the ability to meet interest obligations. The ratios remained relatively stable and positive through 2023, with values fluctuating between approximately 1.76 and 1.99, illustrating a period of stabilized, though modest, interest coverage.
In the first half of 2024, the ratios continued to be positive, peaking at 3.30 in September, suggesting robust earnings relative to interest expenses during this interval. However, the subsequent quarters reflect a notable deterioration: the ratio turns negative again in December 2024 (-0.70) and further declines in March 2025 to -1.44, indicating renewed challenges in generating sufficient earnings to cover interest obligations.
Overall, the company's interest coverage ratio exhibits a trajectory moving from substantial negative values in 2020 to positive figures in 2022 and parts of 2023, before experiencing a decline in late 2024 and early 2025. This pattern suggests periods of financial recovery interspersed with setbacks, emphasizing variability in profitability and potential issues related to earnings stability over the analyzed timeframe.
Peer comparison
Mar 31, 2025