Wabash National Corporation (WNC)
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 | 313,936 | 310,552 | 284,733 | 216,488 | 166,448 | 80,419 | 46,404 | 33,296 | 24,433 | 62,265 | 52,121 | 36,119 | -85,018 | -63,453 | -32,202 | 10,133 | 145,098 | 137,318 | 114,724 | 116,158 |
| Interest expense (ttm) | US$ in thousands | 19,854 | 20,097 | 20,375 | 20,606 | 20,525 | 20,438 | 21,075 | 21,891 | 23,128 | 24,322 | 24,224 | 24,072 | 24,194 | 24,420 | 25,384 | 26,522 | 27,340 | 27,933 | 28,264 | 28,395 |
| Interest coverage | 15.81 | 15.45 | 13.97 | 10.51 | 8.11 | 3.93 | 2.20 | 1.52 | 1.06 | 2.56 | 2.15 | 1.50 | -3.51 | -2.60 | -1.27 | 0.38 | 5.31 | 4.92 | 4.06 | 4.09 |
December 31, 2023 calculation
Interest coverage = EBIT (ttm) ÷ Interest expense (ttm)
= $313,936K ÷ $19,854K
= 15.81
Absolute Wabash National Corp.'s interest coverage has shown a consistent upward trend in the past eight quarters, reflecting the company's improving ability to cover its interest expenses from its earnings before interest and taxes (EBIT). The interest coverage ratio has increased significantly from 3.19 in Q1 2022 to 15.68 in Q4 2023, indicating a substantial enhancement in the company's ability to meet its interest obligations. This upward trajectory suggests a strengthening financial position and a reduced risk of default due to its interest payments. Overall, the trend in Wabash National Corp.'s interest coverage ratio signals positive financial health and a potentially favorable outlook.