Standex International Corporation (SXI)
Interest coverage
| 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 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | 99,150 | 100,785 | 167,424 | 169,960 | 169,193 | 159,556 | 95,887 | 89,491 | 87,067 | 89,868 | 70,837 | 65,565 | 56,663 | 41,401 | 35,160 | 35,990 | 40,727 | 53,572 | 88,583 | 91,967 |
| Interest expense (ttm) | US$ in thousands | 4,544 | 4,481 | 4,947 | 5,494 | 5,405 | 5,558 | 5,381 | 5,341 | 5,874 | 6,073 | 6,152 | 6,227 | 5,991 | 6,057 | 6,514 | 6,841 | 7,478 | 7,985 | 9,441 | 10,636 |
| Interest coverage | 21.82 | 22.49 | 33.84 | 30.94 | 31.30 | 28.71 | 17.82 | 16.76 | 14.82 | 14.80 | 11.51 | 10.53 | 9.46 | 6.84 | 5.40 | 5.26 | 5.45 | 6.71 | 9.38 | 8.65 |
June 30, 2024 calculation
Interest coverage = EBIT (ttm) ÷ Interest expense (ttm)
= $99,150K ÷ $4,544K
= 21.82
The interest coverage ratio for Standex International Corporation has shown fluctuations over the past several quarters. The ratio indicates the company's ability to meet its interest obligations from its operating profits. A higher interest coverage ratio generally suggests that the company is in a better position to meet its interest payments.
Looking at the data provided, we observe that the interest coverage ratio has been relatively strong in recent quarters, with values ranging from around 14.80 to 33.84. Standex International Corporation has demonstrated a good ability to cover its interest expenses with its operating income during these periods.
However, there are fluctuations in the interest coverage ratio over time. The ratio peaked at 33.84 in December 2023 and remained relatively high in subsequent quarters. This indicates that the company had a significantly higher operating income compared to its interest expenses during that period.
It is important to note the downward trend in the interest coverage ratio in the earlier quarters, particularly in March 2021 and December 2020, where the ratio was below 10. This suggests that Standex International Corporation may have faced challenges in meeting its interest obligations with its operating income during those periods.
In conclusion, while Standex International Corporation has shown improvements in its interest coverage ratio in recent quarters, investors and stakeholders should continue to monitor the company's ability to generate sufficient operating income to cover its interest expenses effectively.
Peer comparison
Jun 30, 2024