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A ratio used to assess a firm's ability to pay interest expenses based on operating profits (EBIT).
Interest Coverage Ratio is defined as:
Interest Coverage Ratio = EBIT / Interest Expense
Interest Coverage Ratio for Ubiquiti is calculated as follows:
EBIT [ 597.6 M ]
(/) Interest Expense [ 57.701 M ]
(=) Interest Coverage Ratio [ 10.4x ]
The tables below summarizes the trend in Ubiquiti’s interest coverage ratio over the last five years:
| Fiscal Year | EBIT | Interest Expense | Interest Coverage Ratio |
|---|---|---|---|
| 2020-06-30 | 478.2 M | 28.002 M | 17.1x |
| 2021-06-30 | 742.6 M | 14.938 M | 49.7x |
| 2022-06-30 | 462.3 M | 17.815 M | 25.9x |
| 2023-06-30 | 544.6 M | 58.224 M | 9.4x |
| 2024-06-30 | 499 M | 75.169 M | 6.6x |
The tables below summarizes the trend in Ubiquiti’s interest coverage ratio over the last four quarters:
| Fiscal Quarter | EBIT | Interest Expense | Interest Coverage Ratio |
|---|---|---|---|
| 2024-03-31 | 111.2 M | 18.87 M | 5.9x |
| 2024-06-30 | 138.4 M | 16.813 M | 8.2x |
| 2024-09-30 | 169.2 M | 10.578 M | 16.0x |
| 2024-12-31 | 178.8 M | 11.44 M | 15.6x |
Times Interest Earned or Interest Coverage measures a company’s ability to meet its debt obligations. If the interest coverage is below 1, the company is not generating enough earnings from its operations to meet interest obligations and indicates that the company is probably using its cash balance or additional borrowings to cover the shortfall. A ratio near 2.5x warrants a closer look.
Earnings before interest and taxes, or EBIT, used in the numerator is adjusted for one-time and non-recurring items to present a clearer view of future earnings. Interest expense can be found on the Income Statement and is used in the denominator.
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