Gibraltar Industries Inc (ROCK)
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 | 150,729 | 130,102 | 96,988 | 107,190 | 80,812 |
| Interest expense | US$ in thousands | 3,002 | 4,047 | 1,639 | 703 | 2,205 |
| Interest coverage | 50.21 | 32.15 | 59.18 | 152.48 | 36.65 |
December 31, 2023 calculation
Interest coverage = EBIT ÷ Interest expense
= $150,729K ÷ $3,002K
= 50.21
The interest coverage ratio for Gibraltar Industries Inc. has fluctuated over the past five years, ranging from a low of 32.15 in 2022 to a high of 152.48 in 2020. The company's ability to cover its interest expenses improved significantly in 2020, indicating a strong ability to meet its debt obligations from its operating income during that year. However, the interest coverage ratio decreased in 2021 and 2023, which may suggest a decrease in the company's ability to cover its interest expenses from its operating profits during those periods. Overall, the interest coverage ratio for Gibraltar Industries Inc. remains relatively healthy, but it is important to monitor any potential trends or changes in the company's ability to service its debt obligations in the future.
Peer comparison
Dec 31, 2023