Bristow Group Inc (VTOL)
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 | 59,569 | 37,262 | 26,942 | 55,377 | 60,917 | 66,856 | 67,899 | 37,024 | -21,736 | -60,773 | -94,296 | -5,190 | 39,761 | -61,006 | -217,209 | -455,945 | -455,394 | -328,074 | -123,334 | 25,253 |
| Interest expense (ttm) | US$ in thousands | 41,417 | 40,600 | 40,600 | 40,971 | 40,948 | 40,721 | 41,139 | 41,521 | 43,387 | 46,360 | 49,379 | 51,259 | 42,591 | 39,062 | 48,332 | 62,536 | 62,558 | 56,369 | 37,203 | 14,016 |
| Interest coverage | 1.44 | 0.92 | 0.66 | 1.35 | 1.49 | 1.64 | 1.65 | 0.89 | -0.50 | -1.31 | -1.91 | -0.10 | 0.93 | -1.56 | -4.49 | -7.29 | -7.28 | -5.82 | -3.32 | 1.80 |
December 31, 2023 calculation
Interest coverage = EBIT (ttm) ÷ Interest expense (ttm)
= $59,569K ÷ $41,417K
= 1.44
The interest coverage ratio indicates the company's ability to pay its interest expenses with its earnings before interest and taxes (EBIT). A higher ratio suggests a stronger ability to meet interest obligations.
Examining the historical interest coverage ratios of Bristow Group Inc, we observe fluctuations over time. The ratio ranged from a high of 1.65 in June 2022 to a low of -7.29 in March 2020.
In recent quarters, the interest coverage ratio has been below 1, indicating a potential inability to cover interest payments solely from operating income. This could raise concerns about the company's financial health and its ability to service its debt obligations.
It is important for investors and creditors to closely monitor Bristow Group Inc's interest coverage ratio to assess its financial performance and risk profile. Further analysis of the company's financial statements and industry dynamics may provide additional insights into its ability to manage debt effectively.