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Assurant (Assurant) Interest Coverage : 11.93 (As of Mar. 2024)


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What is Assurant 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. Assurant's EBIT for the three months ended in Mar. 2024 was $320 Mil. Assurant's Interest Expense for the three months ended in Mar. 2024 was $-27 Mil. Assurant's interest coverage for the quarter that ended in Mar. 2024 was 11.93. The higher the ratio, the stronger the company's financial strength is.

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

AIZ' s Interest Coverage Range Over the Past 10 Years
Min: 4.23   Med: 7.22   Max: 15.73
Current: 9.84


AIZ's Interest Coverage is ranked worse than
59.39% of 330 companies
in the Insurance industry
Industry Median: 14.46 vs AIZ: 9.84

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


Assurant Interest Coverage Historical Data

The historical data trend for Assurant'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.

* Premium members only.

Assurant Interest Coverage Chart

Assurant Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Interest Coverage
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.11 6.53 7.90 4.23 8.47

Assurant Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Interest Coverage Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.45 8.51 9.47 9.46 11.93

Competitive Comparison of Assurant's Interest Coverage

For the Insurance - Specialty subindustry, Assurant'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.


Assurant's Interest Coverage Distribution in the Insurance Industry

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

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



Assurant 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.

Assurant'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, Assurant's Interest Expense was $-108 Mil. Its EBIT was $915 Mil. And its Long-Term Debt & Capital Lease Obligation was $2,080 Mil.

Interest Coverage=-1* EBIT (A: Dec. 2023 )/Interest Expense (A: Dec. 2023 )
=-1*914.8/-108
=8.47

Assurant's Interest Coverage for the quarter that ended in Mar. 2024 is calculated as

Here, for the three months ended in Mar. 2024, Assurant's Interest Expense was $-27 Mil. Its EBIT was $320 Mil. And its Long-Term Debt & Capital Lease Obligation was $2,081 Mil.

Interest Coverage=-1* EBIT (Q: Mar. 2024 )/Interest Expense (Q: Mar. 2024 )
=-1*319.7/-26.8
=11.93

* 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.


Assurant  (NYSE:AIZ) 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 .


Assurant Interest Coverage Related Terms

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


Assurant (Assurant) Business Description

Traded in Other Exchanges
Address
260 Interstate North Circle SE, Atlanta, GA, USA, 30339
Assurant Inc offers a range of property-casualty, health, employee benefit, and warranty insurance to a client base made up of individuals and institutions. Its segments are Global Housing, Global Lifestyle, Corporate and Other. Global Housing provides lender-placed homeowners insurance, lender-placed manufactured housing insurance and lender-placed flood insurance; renters insurance and related products; and voluntary manufactured housing insurance, voluntary homeowners insurance and other specialty products. Global Lifestyle, the key revenue-generating segment, provides mobile device solutions and extended service products and related services for mobile devices, consumer electronics and appliances; vehicle protection; and credit protection and other insurance products.
Executives
Jay Rosenblum officer: EVP and CLO C/O ASSURANT, INC., 28 LIBERTY ST, 41ST FL., NEW YORK NY 10005
Dimitry Dirienzo officer: SVP, CAO, Controller C/O ASSURANT, INC., 28 LIBERTY ST. 41 F., NEW YORK NY 10005
Richard S Dziadzio officer: EVP, CFO, and Treasurer C/O ALLIANCE CAPITAL, 1345 AVENUE OF THE AMERICAS, NEW YORK NY 10105
Francesca Luthi officer: EVP, CAO 1180 NORTH TOWN CENTER DRIVE, SUITE 100, LAS VEGAS NV 89144
Robert Lonergan officer: EVP, other: Chief Strategy Officer C/O ASSURANT, INC.,28 LIBERTY STREET, 41ST FLOOR, NEW YORK NY 10005
Rajiv Basu director C/O ASSURANT, INC., 260 INTERSTATE NORTH CIRCLE, S.E., ATLANTA GA 30339
Sari Beth Granat director C/O MARKIT LTD, 4TH FL, ROPEMAKER PLACE, 25 ROPEMAKER STREET, LONDON X0 EC2Y 9LY
Keith Meier officer: EVP, COO C/O ASSURANT, INC., 55 BROADWAY, SUITE 2901, NEW YORK NY 10006
Alan B. Colberg officer: EVP, Marketing & Bus. Dev. ASSURANT, INC., ONE CHASE MANHATTAN PLAZA, 41 FL., NEW YORK NY 10005
Gene Mergelmeyer officer: Executive Vice President, other: Pres., Assur. Spec. Property ASSURANT, INC., 28 LIBERTY ST. 41 FLOOR, NEW YORK NY 10005
Carter J Braxton Ii director C/O T-MOBILE US, INC., 12920 SE 38TH STREET, BELLEVUE WA 98006
Charles John Koch director CITIZENS FINANCIAL GROUP, INC., 600 WASHINGTON BLVD., CS119N, STAMFORD CT 06901
Tammy L. Schultz officer: EVP C/O ASSURANT, INC.,28 LIBERTY STREET, 41ST FLOOR, NEW YORK NY 10005
Paget Leonard Alves director SPRINT NEXTEL, 6200 SPRINT PARKWAY KSOPHF0410 - 4A403, OVERLAND PARK KS 66251
Ognjen Redzic director C/O ASSURANT, INC., 28 LIBERTY STREET, 41ST FL., NEW YORK NY 10005

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