TTM Technologies Inc (TTMI)

Interest coverage

		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	Jun 30, 2019	Mar 31, 2019
Earnings before interest and tax (EBIT) (ttm)	US$ in thousands	48,421	112,764	180,024	199,611	228,380	165,264	139,922	136,276	115,528	110,356	53,049	207,160	220,800	235,599	298,629	126,254	125,793	121,254	137,534	152,516
Interest expense (ttm)	US$ in thousands	48,124	47,257	48,095	46,963	45,517	44,871	45,079	45,447	45,475	48,214	57,271	64,764	73,156	78,533	78,752	80,733	82,087	81,450	83,252	83,152
Interest coverage		1.01	2.39	3.74	4.25	5.02	3.68	3.10	3.00	2.54	2.29	0.93	3.20	3.02	3.00	3.79	1.56	1.53	1.49	1.65	1.83

December 31, 2023 calculation

Interest coverage = EBIT (ttm) ÷ Interest expense (ttm)
= $48,421K ÷ $48,124K
= 1.01

TTM Technologies Inc's interest coverage ratio fluctuated over the past few years, ranging from a low of 0.93 in June 2021 to a high of 5.02 in December 2022. The interest coverage ratio measures the company's ability to meet its interest payments on outstanding debt with its operating income. A higher interest coverage ratio indicates that the company is more capable of meeting its interest obligations.

In the most recent period, the interest coverage ratio was 1.01, which suggests that the company's operating income is just sufficient to cover its interest expenses. This may raise concerns about TTM Technologies Inc's financial health and ability to service its debt. However, it is important to consider the trend of the ratio over time to assess the company's overall performance and financial stability.

Overall, TTM Technologies Inc's interest coverage ratio has shown variability, indicating fluctuations in its ability to cover interest payments with operating income. Investors and analysts should continue to monitor this ratio and assess the company's ability to manage its debt obligations effectively.