WD-40 Company (WDFC)
Interest coverage
| Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | 96,258 | 95,774 | 94,567 | 96,122 | 90,777 | 86,320 | 79,320 | 81,967 | 86,850 | 79,695 | 88,251 | 84,060 | 88,894 | 102,317 | 94,651 | 91,810 | 77,954 | 75,619 | 78,944 | 81,217 |
| Interest expense (ttm) | US$ in thousands | 4,287 | 4,682 | 5,097 | 5,591 | 5,614 | 5,108 | 4,180 | 3,291 | 2,742 | 2,502 | 2,448 | 2,445 | 2,395 | 2,421 | 2,584 | 2,567 | 2,439 | 2,392 | 2,181 | 2,273 |
| Interest coverage | 22.45 | 20.46 | 18.55 | 17.19 | 16.17 | 16.90 | 18.98 | 24.91 | 31.67 | 31.85 | 36.05 | 34.38 | 37.12 | 42.26 | 36.63 | 35.77 | 31.96 | 31.61 | 36.20 | 35.73 |
August 31, 2024 calculation
Interest coverage = EBIT (ttm) ÷ Interest expense (ttm)
= $96,258K ÷ $4,287K
= 22.45
The interest coverage ratio of WD-40 Company has shown a generally strong and consistent performance over the past several quarters. The company's interest coverage has ranged between 16.17 and 42.26, indicating that the company is comfortably able to cover its interest expenses with its earnings.
The trend for WD-40 Company's interest coverage appears to be positive, with the ratio generally increasing over the past few quarters. This suggests that the company's earnings are growing at a faster pace than its interest expenses, which is a positive signal for investors and creditors.
Overall, based on the interest coverage ratios provided, WD-40 Company demonstrates a strong ability to meet its interest obligations, indicating financial stability and sound operational performance.
Peer comparison
Aug 31, 2024