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Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's EBIT by its Interest Expense. Skyward Specialty Insurance Group's EBIT for the three months ended in Mar. 2024 was $49.7 Mil. Skyward Specialty Insurance Group's Interest Expense for the three months ended in Mar. 2024 was $-2.7 Mil. Skyward Specialty Insurance Group's interest coverage for the quarter that ended in Mar. 2024 was 18.23. The higher the ratio, the stronger the company's financial strength is.
The historical rank and industry rank for Skyward Specialty Insurance Group's Interest Coverage or its related term are showing as below:
Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.
The historical data trend for Skyward Specialty Insurance Group's Interest Coverage can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Note: For Interest Coverage, "No debt" indicates no long-term debt. An indication of "No Debt" does not necessarily mean that the company has no long-term debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.
Skyward Specialty Insurance Group Annual Data | |||||||||
Trend | Dec20 | Dec21 | Dec22 | Dec23 | |||||
Interest Coverage | - | 11.45 | 8.77 | 11.98 |
Skyward Specialty Insurance Group Quarterly Data | ||||||||||||
Dec20 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | |
Interest Coverage | Get a 7-Day Free Trial | 10.16 | 11.14 | 11.56 | 14.54 | 18.23 |
For the Insurance - Property & Casualty subindustry, Skyward Specialty Insurance Group's Interest Coverage, along with its competitors' market caps and Interest Coverage data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
For the Insurance industry and Financial Services sector, Skyward Specialty Insurance Group's Interest Coverage distribution charts can be found below:
* The bar in red indicates where Skyward Specialty Insurance Group's Interest Coverage falls into.
Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:
If Interest Expense is negative and EBIT is positive, then
Interest Coverage | = | -1 | * | EBIT | / | Interest Expense |
Else if Interest Expense is negative and EBIT is negative, then
The company did not have earnings to cover the interest expense. |
Else if Interest Expense is 0 and Long-Term Debt & Capital Lease Obligation is 0, then
The company had no debt (1). |
Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.
Skyward Specialty Insurance Group's Interest Coverage for the fiscal year that ended in Dec. 2023 is calculated as
Here, for the fiscal year that ended in Dec. 2023, Skyward Specialty Insurance Group's Interest Expense was $-10.0 Mil. Its EBIT was $120.1 Mil. And its Long-Term Debt & Capital Lease Obligation was $128.7 Mil.
Interest Coverage | = | -1 | * | EBIT (A: Dec. 2023 ) | / | Interest Expense (A: Dec. 2023 ) |
= | -1 | * | 120.126 | / | -10.024 | |
= | 11.98 |
Skyward Specialty Insurance Group's Interest Coverage for the quarter that ended in Mar. 2024 is calculated as
Here, for the three months ended in Mar. 2024, Skyward Specialty Insurance Group's Interest Expense was $-2.7 Mil. Its EBIT was $49.7 Mil. And its Long-Term Debt & Capital Lease Obligation was $118.9 Mil.
Interest Coverage | = | -1 | * | EBIT (Q: Mar. 2024 ) | / | Interest Expense (Q: Mar. 2024 ) |
= | -1 | * | 49.704 | / | -2.727 | |
= | 18.23 |
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
The higher the ratio, the stronger the company's Financial Strength is.
Skyward Specialty Insurance Group (NAS:SKWD) Interest Coverage Explanation
Ben Graham requires that a company has a minimum interest coverage of 5 with the companies he invested. If the interest coverage is less than 2, the company is burdened by debt. Any business slow or recession may drag the company into a situation where it cannot pay the interest on its debt.
Interest Coverage is an important factor when GuruFocus ranks a company's overage Financial Strength .
Thank you for viewing the detailed overview of Skyward Specialty Insurance Group's Interest Coverage provided by GuruFocus.com. Please click on the following links to see related term pages.
Westaim Corp | 10 percent owner | 212 KING STREET WEST, SUITE 201, TORONTO A6 M5H 1K5 |
Gena L Ashe | director | C/O GXO LOGISTICS, INC., TWO AMERICAN LANE, GREENWICH CT 06831 |
Anthony J Kuczinski | director | 800 GESSNER ROAD, SUITE 600, HOUSTON TX 77024 |
James Charles Hays | director | 100 S. POINTE DRIVE, UNIT 2605, MIAMI BEACH FL 33139 |
Sean W Duffy | officer: EVP & CHIEF CLAIMS OFFICER | 800 GESSNER ROAD, SUITE 600, HOUSTON TX 77024 |
Westaim Hiig Limited Partnership | 10 percent owner | 212 KING STREET WEST, SUITE 201, TORONTO A6 M5H 1K5 |
Dan Pk Bodnar | officer: CHIEF INFORMATION OFFICER | 800 GESSNER ROAD, SUITE 600, HOUSTON TX 77024 |
Leslie Shaunty | officer: GENERAL COUNSEL & SECRETARY | 800 GESSNER ROAD, SUITE 600, HOUSTON TX 77024 |
Thomas N Schmitt | officer: CHIEF PEOPLE & ADMIN. OFFICER | 800 GESSNER ROAD, SUITE 600, HOUSTON TX 77024 |
Sandip A Kapadia | officer: EVP, CHIEF ACTUARY | 800 GESSNER ROAD, SUITE 600, HOUSTON TX 77024 |
Katharine Terry | director | 800 GESSNER ROAD, SUITE 600, HOUSTON TX 77024 |
Burkhart John A Iii | officer: PRESIDENT - SPECIALTY LINES | 800 GESSNER ROAD, SUITE 600, HOUSTON TX 77024 |
Mark W Haushill | officer: EVP & CFO | C/O SKYWARD SPECIALTY INSURANCE GROUP, 800 GESSNER ROAD, STE 600, HOUSTON TX 77024 |
Kirby Hill | officer: PRESIDENT - INDUSTRY SOLUTIONS | 800 GESSNER ROAD, SUITE 600, HOUSTON TX 77024 |
Robert T. Kittel | director | 70 YORK STREET, SUITE 1700, TORONTO A6 M5J 1S9 |
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