Legacy Housing (Legacy Housing) Interest Coverage : 28.42 (As of Dec. 2023)

View and export this data going back to 2018. Start your Free Trial

What is Legacy Housing 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 Operating Income by its Interest Expense. Legacy Housing's Operating Income for the three months ended in Dec. 2023 was $9.7 Mil. Legacy Housing's Interest Expense for the three months ended in Dec. 2023 was $-0.3 Mil. Legacy Housing's interest coverage for the quarter that ended in Dec. 2023 was 28.42. The higher the ratio, the stronger the company's financial strength is.

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

LEGH' s Interest Coverage Range Over the Past 10 Years
Min: 13.08 Med: 49.55 Max: 208.05
Current: 69.37

LEGH's Interest Coverage is ranked better than
83.33% of 72 companies
in the Homebuilding & Construction industry
Industry Median: 9.11 vs LEGH: 69.37

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

Legacy Housing Interest Coverage Historical Data

The historical data trend for Legacy Housing'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.

Legacy Housing Interest Coverage Chart

Legacy Housing Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Coverage

Get a 7-Day Free Trial

53.90

45.20

66.42

208.05

69.45

Legacy Housing 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															457.71	201.69	89.74	62.75	28.42

Competitive Comparison of Legacy Housing's Interest Coverage

For the Residential Construction subindustry, Legacy Housing'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.

Legacy Housing's Interest Coverage Distribution in the Homebuilding & Construction Industry

For the Homebuilding & Construction industry and Consumer Cyclical sector, Legacy Housing's Interest Coverage distribution charts can be found below:

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

Legacy Housing 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 Operating Income is positive, then

Interest Coverage

-1

Operating Income

Interest Expense

Else if Interest Expense is negative and Operating Income 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.

Legacy Housing'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, Legacy Housing's Interest Expense was $-0.9 Mil. Its Operating Income was $64.6 Mil. And its Long-Term Debt & Capital Lease Obligation was $25.1 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Dec. 2023 )	/	Interest Expense (A: Dec. 2023 )
	=	-1	*	64.587	/	-0.93
	=	69.45

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

Here, for the three months ended in Dec. 2023, Legacy Housing's Interest Expense was $-0.3 Mil. Its Operating Income was $9.7 Mil. And its Long-Term Debt & Capital Lease Obligation was $25.1 Mil.

Interest Coverage	=	-1	*	Operating Income (Q: Dec. 2023 )	/	Interest Expense (Q: Dec. 2023 )
	=	-1	*	9.72	/	-0.342
	=	28.42

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

Legacy Housing (NAS:LEGH) 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 .

Legacy Housing Interest Coverage Related Terms

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

Legacy Housing (Legacy Housing) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Homebuilding & Construction » Legacy Housing Corp (NAS:LEGH) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

N/A

Address

1600 Airport Freeway, Suite No. 100, Bedford, TX, USA, 76022

Website

https://www.legacyhousingcorp.com

Legacy Housing Corp builds, sell, and finance manufactured homes and tiny houses that are distributed through a network of independent retailers and company-owned stores and also sold directly to manufactured home communities. The company also provides financing options to customers to facilitate the sale of homes.

Executives

Curtis Drew Hodgson	director, 10 percent owner, officer: Co-Chief Executive Officer	15400 KNOLL TRAIL STE 101 LB 25, DALLAS TX 75248
Kenneth E Shipley	director, 10 percent owner, officer: Co-Chief Executive Officer	PO BOX 749, LEVELLAND TX 79336
William G Shipley	10 percent owner	C/O LEGACY HOUSING CORPORATION, 1600 AIRPORT FREEWAY, #100, BEDFORD TX 76022
Robert Duncan Bates	director	C/O LEGACY HOUSING CORPORATION, 1600 AIRPORT FREEWAY, #100, BEDFORD TX 76022
Douglas M Shipley	10 percent owner	PO BOX 749, LEVELLAND TX 79336
Jeffrey Mark Fiedelman	officer: CFO	7026 BAXTERSHIRE DRIVE, DALLAS TX 75230
Jeffrey V Burt	officer: CFO and Treasurer	C/O LEGACY HOUSING CORPORATION, 1600 AIRPORT FREEWAY, #100, BEDFORD TX 76022
Francisco Javier Coll	director	C/O LEGACY HOUSING CORPORATION, 1600 AIRPORT FREEWAY, #100, BEDFORD TX 76022
Ronald Carter Arrington	officer: CFO	C/O LEGACY HOUSING CORPORATION, 1600 AIRPORT FREEWAY, #100, BEDFORD TX 76022
Joseph Phillip Lane	director	C/O LEGACY HOUSING CORPORATION, 1600 AIRPORT FREEWAY, #100, BEDFORD TX 76022
Jeffrey Kyle Stouder	director	C/O LEGACY HOUSING CORPORATION, 1600 AIRPORT FREEWAY, #100, BEDFORD TX 76022
Stephen Lynn Crawford	director	C/O LEGACY HOUSING CORPORATION, 1600 AIRPORT FREEWAY, #100, BEDFORD TX 76022
Neal J Suit	officer: Exec VP, GC and Secretary	C/O LEGACY HOUSING CORPORATION, 1600 AIRPORT FREEWAY, #100, BEDFORD TX 76022
Mark E Bennett	director	C/O LEGACY HOUSING CORPORATION, 1600 AIRPORT FREEWAY, #100, BEDFORD TX 76022
Philip Thomas Blazek	director	500 CRESCENT COURT, SUITE 230, DALLAS TX 75201