Unifirst Corporation (UNF)
Interest coverage
| Aug 31, 2024 | May 25, 2024 | Feb 24, 2024 | Nov 25, 2023 | Aug 26, 2023 | Feb 25, 2023 | Nov 26, 2022 | Aug 27, 2022 | May 28, 2022 | Feb 26, 2022 | Nov 27, 2021 | Aug 28, 2021 | May 29, 2021 | Feb 27, 2021 | Nov 28, 2020 | Aug 29, 2020 | May 30, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | 183,578 | 165,754 | 138,014 | 153,489 | 133,603 | 131,076 | 132,979 | 134,351 | 146,031 | 166,493 | 184,573 | 195,825 | 191,693 | 165,242 | 168,676 | 172,729 | 190,854 | 223,358 | 241,677 | 232,008 |
| Interest expense (ttm) | US$ in thousands | 0 | 4,827 | 7,744 | 9,722 | 10,834 | 6,347 | 4,181 | 2,851 | 2,205 | 2,536 | 2,648 | 2,568 | 2,894 | 3,277 | 4,589 | 6,382 | 8,665 | 9,904 | 9,738 | 9,082 |
| Interest coverage | — | 34.34 | 17.82 | 15.79 | 12.33 | 20.65 | 31.81 | 47.12 | 66.23 | 65.65 | 69.70 | 76.26 | 66.24 | 50.42 | 36.76 | 27.07 | 22.03 | 22.55 | 24.82 | 25.55 |
August 31, 2024 calculation
Interest coverage = EBIT (ttm) ÷ Interest expense (ttm)
= $183,578K ÷ $0K
= —
The interest coverage ratio of Unifirst Corporation has exhibited fluctuating trends over the past few quarters. The ratio, which measures the company's ability to meet its interest payment obligations from operating earnings, reached its highest point of 76.26 in the second quarter of 2021, indicating a strong ability to cover interest expenses.
However, this peak was followed by a slight decrease in the subsequent periods, with the ratio ranging between 30 and 50 in the following quarters. Despite these fluctuations, the interest coverage ratio remained above 20, reflecting a consistent ability to cover interest payments comfortably.
In the most recent quarter, the interest coverage ratio was not available. It is essential for investors and stakeholders to continue monitoring this ratio to assess the company's financial health and ability to meet its debt obligations.
Peer comparison
Aug 31, 2024