Clear Secure Inc (YOU)
Interest coverage
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|
| Earnings before interest and tax (EBIT) | US$ in thousands | 20,138 | -129,064 | -114,933 |
| Interest expense | US$ in thousands | 339 | 440 | 358 |
| Interest coverage | 59.40 | -293.33 | -321.04 |
December 31, 2023 calculation
Interest coverage = EBIT ÷ Interest expense
= $20,138K ÷ $339K
= 59.40
Clear Secure Inc's interest coverage ratio has shown significant improvement over the past three years. In 2021, the company had a negative interest coverage ratio of -321.04, indicating that Clear Secure Inc's operating income was insufficient to cover its interest expenses. However, in 2022, the interest coverage ratio improved to -293.33, although it remained negative. Finally, by the end of 2023, Clear Secure Inc achieved a noteworthy interest coverage ratio of 59.40, signifying a substantial improvement in its ability to cover interest payments with operating income. This positive trend indicates enhanced financial stability and suggests that Clear Secure Inc has strengthened its ability to meet its interest obligations.
Peer comparison
Dec 31, 2023