YETI Holdings Inc (YETI)
Interest coverage
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | 241,275 | 261,135 | 249,342 | 233,524 | 226,912 | 87,290 | 90,634 | 101,544 | 120,632 | 250,928 | 257,232 | 266,190 | 271,749 | 261,280 | 263,820 | 239,789 | 214,362 | 143,233 | 106,904 | 94,514 |
| Interest expense (ttm) | US$ in thousands | 649 | -180 | -57 | -311 | 942 | 2,855 | 4,065 | 4,294 | 4,466 | 4,041 | 3,379 | 3,251 | 3,339 | 3,944 | 5,074 | 6,899 | 9,155 | 12,428 | 15,784 | 18,822 |
| Interest coverage | 371.76 | — | — | — | 240.88 | 30.57 | 22.30 | 23.65 | 27.01 | 62.10 | 76.13 | 81.88 | 81.39 | 66.25 | 51.99 | 34.76 | 23.41 | 11.53 | 6.77 | 5.02 |
December 31, 2024 calculation
Interest coverage = EBIT (ttm) ÷ Interest expense (ttm)
= $241,275K ÷ $649K
= 371.76
YETI Holdings Inc's interest coverage ratio has shown a positive trend over the past few years, indicating the company's ability to meet its interest obligations comfortably. Starting at 5.02 as of March 31, 2020, the ratio steadily increased to 81.39 by December 31, 2021. This upward trend continued, reaching a peak of 81.88 as of March 31, 2022.
However, the interest coverage ratio started to decline after March 31, 2022, dropping to 27.01 by December 31, 2022. This decrease continued, and as of December 31, 2023, the ratio sharply rose to 240.88. This sudden increase could be due to a significant improvement in the company's earnings relative to its interest expenses during that period.
The data for the following periods, March 31, 2024, and onwards, is missing, which makes it difficult to provide a complete analysis of the latest trends in YETI Holdings Inc's interest coverage. Overall, the company has exhibited strong interest coverage ratios in the past, but it is important to monitor future financial reports to assess any potential changes in their ability to cover interest expenses effectively.
Peer comparison
Dec 31, 2024