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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. MGIC Investment's EBIT for the three months ended in Jun. 2024 was $269 Mil. MGIC Investment's Interest Expense for the three months ended in Jun. 2024 was $-9 Mil. MGIC Investment's interest coverage for the quarter that ended in Jun. 2024 was 30.20. The higher the ratio, the stronger the company's financial strength is.
The historical rank and industry rank for MGIC Investment'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 MGIC Investment'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.
MGIC Investment Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Interest Coverage | Get a 7-Day Free Trial | 17.10 | 10.38 | 12.24 | 23.68 | 25.45 |
MGIC Investment Quarterly Data | ||||||||||||||||||||
Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | Jun24 | |
Interest Coverage | Get a 7-Day Free Trial | 26.85 | 26.33 | 26.83 | 25.71 | 30.20 |
For the Insurance - Specialty subindustry, MGIC Investment'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, MGIC Investment's Interest Coverage distribution charts can be found below:
* The bar in red indicates where MGIC Investment'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.
MGIC Investment'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, MGIC Investment's Interest Expense was $-37 Mil. Its EBIT was $939 Mil. And its Long-Term Debt & Capital Lease Obligation was $643 Mil.
Interest Coverage | = | -1 | * | EBIT (A: Dec. 2023 ) | / | Interest Expense (A: Dec. 2023 ) |
= | -1 | * | 939.134 | / | -36.905 | |
= | 25.45 |
MGIC Investment's Interest Coverage for the quarter that ended in Jun. 2024 is calculated as
Here, for the three months ended in Jun. 2024, MGIC Investment's Interest Expense was $-9 Mil. Its EBIT was $269 Mil. And its Long-Term Debt & Capital Lease Obligation was $644 Mil.
Interest Coverage | = | -1 | * | EBIT (Q: Jun. 2024 ) | / | Interest Expense (Q: Jun. 2024 ) |
= | -1 | * | 268.724 | / | -8.899 | |
= | 30.20 |
* 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.
MGIC Investment (NYSE:MTG) 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 MGIC Investment's Interest Coverage provided by GuruFocus.com. Please click on the following links to see related term pages.
Michael Leal Thompson | director | 4 BRIDGET COURT, BURR RIDGE IL 60527 |
Analisa M Allen | director | 250 EAST KILBOURN AVENUE, MILWAUKEE WI 53202 |
Teresita M. Lowman | director | 2235 ENTERPRISE STREET #110, ESCONDIDO CA 92029 |
Jodee A Kozlak | director | 1000 NICOLLET MALL, TPS-3255, MINNEAPOLIS MN 55403 |
Jay C. Hartzell | director | 250 EAST KILBOURN AVENUE, MILWAUKEE WI 53202 |
Sheryl L. Sculley | director | 250 EAST KILBOURN AVENUE, MILWAUKEE WI 53202 |
Gary A. Poliner | director | C/O MGIC INVESTMENT CORPORATION, 250 EAST KILBOURN AVENUE, MILWAUKEE WI 53202 |
Daniel A. Arrigoni | director | C/O MGIC INVESTMENT CORPORATION, 250 E KILBOURN AVE, MILWAUKEE WI 53202 |
James J. Hughes | officer: SVP-Sales & Bus. Development | C/O MGIC INVESTMENT CORPORATION, 250 EAST KILBOURN AVENUE, MILWAUKEE WI 53202 |
Michael E Lehman | director | |
Julie K. Sperber | officer: VP-Controller & Chief Acct Off | MGIC INVESTMENT CORPORATION, 250 EAST KILBOURN AVENUE, MILWAUKEE WI 53202 |
Patrick Sinks | officer: Executive Vice President | 250 E KILBOURN AVE, MILWAUKEE WI 53202 |
Steven M. Thompson | officer: EVP&CRO-Mort Gty Ins Corp | 250 EAST KILBOURN AVENUE, MILWAUKEE WI 53202 |
Nathaniel H Colson | officer: Executive Vice President & CFO | C/O MGIC INVESTMENT CORPORATION, 250 EAST KILBOURN AVENUE, MILWAUKEE WI 53202 |
Robert J Candelmo | officer: SVP-Chief Information Officer | 250 EAST KILBOURN AVENUE, MILWAUKEE WI 53202 |
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