Palomar Holdings (Palomar Holdings) Interest Coverage : 41.66 (As of Dec. 2023)

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What is Palomar Holdings Interest Coverage?

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. Palomar Holdings's EBIT for the three months ended in Dec. 2023 was $34.3 Mil. Palomar Holdings's Interest Expense for the three months ended in Dec. 2023 was $-0.8 Mil. Palomar Holdings's interest coverage for the quarter that ended in Dec. 2023 was 41.66. The higher the ratio, the stronger the company's financial strength is.

The historical rank and industry rank for Palomar Holdings's Interest Coverage or its related term are showing as below:

PLMR' s Interest Coverage Range Over the Past 10 Years
Min: 0.69 Med: 13.42 Max: 1429.45
Current: 28.46

PLMR's Interest Coverage is ranked better than
65.12% of 324 companies
in the Insurance industry
Industry Median: 13.355 vs PLMR: 28.46

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Palomar Holdings Interest Coverage Historical Data

The historical data trend for Palomar Holdings'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.

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Palomar Holdings Interest Coverage Chart

Palomar Holdings Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Coverage

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17.93

0.69

1,429.45

78.38

28.45

Palomar Holdings Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Interest Coverage	Get a 7-Day Free Trial															63.76	23.19	22.64	29.30	41.66

Competitive Comparison of Palomar Holdings's Interest Coverage

For the Insurance - Property & Casualty subindustry, Palomar Holdings'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.

Palomar Holdings's Interest Coverage Distribution in the Insurance Industry

For the Insurance industry and Financial Services sector, Palomar Holdings's Interest Coverage distribution charts can be found below:

* The bar in red indicates where Palomar Holdings's Interest Coverage falls into.

Palomar Holdings Interest Coverage Calculation

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.

Palomar Holdings'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, Palomar Holdings's Interest Expense was $-3.8 Mil. Its EBIT was $107.4 Mil. And its Long-Term Debt & Capital Lease Obligation was $0.0 Mil.

Interest Coverage	=	-1	*	EBIT (A: Dec. 2023 )	/	Interest Expense (A: Dec. 2023 )
	=	-1	*	107.417	/	-3.775
	=	28.45

Palomar Holdings's Interest Coverage for the quarter that ended in Dec. 2023 is calculated as

Here, for the three months ended in Dec. 2023, Palomar Holdings's Interest Expense was $-0.8 Mil. Its EBIT was $34.3 Mil. And its Long-Term Debt & Capital Lease Obligation was $0.0 Mil.

Interest Coverage	=	-1	*	EBIT (Q: Dec. 2023 )	/	Interest Expense (Q: Dec. 2023 )
	=	-1	*	34.283	/	-0.823
	=	41.66

The higher the ratio, the stronger the company's Financial Strength is.

Palomar Holdings (NAS:PLMR) 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 .

Palomar Holdings Interest Coverage Related Terms

Thank you for viewing the detailed overview of Palomar Holdings's Interest Coverage provided by GuruFocus.com. Please click on the following links to see related term pages.

Palomar Holdings (Palomar Holdings) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Insurance » Palomar Holdings Inc (NAS:PLMR) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

PH8:Germany

Address

7979 Ivanhoe Avenue, Suite 500, La Jolla, CA, USA, 92037

Website

https://plmr.com

Palomar Holdings Inc is a United States-based company focused on the provision of specialty property insurance earthquake, wind, and flood insurance products. The company's core focus is on the residential and commercial earthquake markets in earthquake-exposed states such as California, Oregon, Washington, and states with exposure to the New Madrid Seismic Zone. It offers specialty property insurance products in the target markets to both individuals and businesses through multiple channels, including retail agents, program administrators, wholesale brokers, and in partnership with other insurance companies. Its products include Residential Earthquake, Commercial Earthquake, Specialty Homeowners, Inland Marine, Commercial All Risk, Hawaii Hurricane, Residential Flood and others.

Executives

T Christopher Uchida	officer: Chief Financial Officer	7979 IVANHOE AVENUE, SUITE 500, LA JOLLA CA 92037
Jon Christianson	officer: Chief Operating Officer	7979 IVANHOE AVENUE, SUITE 500, LA JOLLA CA 92037
Angela L. Grant	officer: Chief Legal Officer	7979 IVANHOE AVENUE, SUITE 500, LA JOLLA CA 92037
Michelle Antoinette Johnson	officer: Senior VP, People & Talent	7979 IVANHOE AVENUE, SUITE 500, LA JOLLA CA 92037
Jonathan Knutzen	officer: Chief Risk Officer	7979 IVANHOE AVENUE, SUITE 500, LA JOLLA CA 92121
Mac Armstrong	director, officer: Chief Executive Officer	7979 IVANHOE AVENUE, SUITE 500, LA JOLLA CA 92037
William Bold	officer: Chief Strategy Officer	7979 IVANHOE AVENUE, SUITE 500, LA JOLLA CA 92037
Heath A Fisher	officer: President	7979 IVANHOE AVENUE, SUITE 500, LA JOLLA CA 92037
Martha Notaras	director	7979 IVANHOE AVENUE, SUITE 500, LA JOLLA CA 92037
Robert E Dowdell	director
Daina Middleton	director	C/O MARIN SOFTWARE INCORPORATED, 123 MISSION STREET, 25TH FLOOR, SAN FRANCISCO CA 94105
Richard H Taketa	director	7979 IVANHOE AVENUE, SUITE 500, LA JOLLA CA 92037
Britt Morries	officer: Chief Operating Officer	7979 IVANHOE AVENUE, SUITE 500, LA JOLLA CA 92037
Andrew T Robinson	officer: Chief Underwriting Officer	7979 IVANHOE AVENUE, SUITE 500, LA JOLLA CA 92037
Daryl Bradley	director	7979 IVANHOE AVENUE, SUITE 500, LA JOLLA CA 92037