TG Therapeutics Inc (TGTX)
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 | 375 | 102,725 | 49,235 | 20,633 | -18,944 | -168,691 | -162,958 | -192,838 | -233,723 | -283,888 | -322,439 | -344,769 | -338,604 | -339,198 | -312,551 | -273,594 | -224,773 | -199,912 | -184,611 | -169,055 |
| Interest expense (ttm) | US$ in thousands | 4,123 | 7,422 | 12,059 | 12,615 | 13,046 | 10,981 | 10,371 | 10,191 | 8,408 | 7,798 | 6,404 | 5,638 | 5,850 | 6,422 | 7,027 | 6,330 | 6,938 | 6,865 | 5,714 | 5,287 |
| Interest coverage | 0.09 | 13.84 | 4.08 | 1.64 | -1.45 | -15.36 | -15.71 | -18.92 | -27.80 | -36.41 | -50.35 | -61.15 | -57.88 | -52.82 | -44.48 | -43.22 | -32.40 | -29.12 | -32.31 | -31.98 |
September 30, 2024 calculation
Interest coverage = EBIT (ttm) ÷ Interest expense (ttm)
= $375K ÷ $4,123K
= 0.09
The interest coverage ratio for TG Therapeutics Inc has shown significant fluctuations over the past few quarters. The ratio indicates the company's ability to meet its interest obligations with its operating income.
As of September 30, 2024, the interest coverage ratio was extremely low at 0.09, suggesting that the company's operating income was only sufficient to cover 0.09 times its interest expenses. This is a concerning sign as it indicates a potential inability to meet interest payments.
In contrast, the ratio improved significantly in the previous quarter ending June 30, 2024, with a ratio of 13.84, indicating a much stronger ability to cover interest expenses with operating income. However, the ratio of 4.08 for March 31, 2024, and 1.64 for December 31, 2023, suggests some fluctuation in the company's ability to cover interest expenses during those periods.
Looking further back, we observe negative ratios in the third and fourth quarters of 2023, indicating that the company's operating income was insufficient to cover its interest expenses during those periods. This negative trend continued from the third quarter of 2023 until the first quarter of 2022.
Overall, the interest coverage ratio for TG Therapeutics Inc has been quite volatile, with instances of both strong and weak coverage. Investors and creditors may find these fluctuations concerning, highlighting the company's inconsistent ability to meet its interest obligations using its operating income.
Peer comparison
Sep 30, 2024