BRP Group (BRP Group) Interest Coverage : 0 (At Loss) (As of Dec. 2023)

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What is BRP Group 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. BRP Group's Operating Income for the three months ended in Dec. 2023 was $-24 Mil. BRP Group's Interest Expense for the three months ended in Dec. 2023 was $-32 Mil. did not have earnings to cover the interest expense. The higher the ratio, the stronger the company's financial strength is.

Warning Sign:

Ben Graham prefers companies' interest coverage to be at least 5. BRP Group Incs earnings cannot cover its interest expense. If the situation continues, the company may have to issue more debt.

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

BRP' s Interest Coverage Range Over the Past 10 Years
Min: 0.02 Med: 0.52 Max: 3.26
Current: 0.16

BRP's Interest Coverage is ranked worse than
99.07% of 323 companies
in the Insurance industry
Industry Median: 13.52 vs BRP: 0.16

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

BRP Group Interest Coverage Historical Data

The historical data trend for BRP 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.

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BRP Group Interest Coverage Chart

BRP Group Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Coverage

Get a 7-Day Free Trial

0.54

0.50

0.02

0.16

BRP Group 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															-	1.02	-	0.46	-

Competitive Comparison of BRP Group's Interest Coverage

For the Insurance Brokers subindustry, BRP 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.

BRP Group's Interest Coverage Distribution in the Insurance Industry

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

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

BRP Group 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.

BRP 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, BRP Group's Interest Expense was $-119 Mil. Its Operating Income was $19 Mil. And its Long-Term Debt & Capital Lease Obligation was $1,388 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Dec. 2023 )	/	Interest Expense (A: Dec. 2023 )
	=	-1	*	18.532	/	-119.465
	=	0.16

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

Here, for the three months ended in Dec. 2023, BRP Group's Interest Expense was $-32 Mil. Its Operating Income was $-24 Mil. And its Long-Term Debt & Capital Lease Obligation was $1,388 Mil.

BRP Group did not have earnings to cover the interest expense.

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

BRP Group (NAS:BRP) 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 .

BRP Group Interest Coverage Related Terms

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

BRP Group (BRP Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Insurance » BRP Group Inc (NAS:BRP) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

N/A

Address

4211 W. Boy Scout Boulevard, Suite 200, Tampa, FL, USA, 33607

Website

https://www.baldwinriskpartners.com

BRP Group Inc is a United States-based insurance distribution firm. Its products include commercial property and casualty, or P&C, insurance, employee benefits insurance and personal lines insurance. The company operates its business through four segments including Middle Market, Specialty, Mainstreet, and Medicare. It generates maximum revenue from the Middle Market segment.

Executives

Bradford Hale	officer: Chief Accounting Officer	4010 W BOY SCOUT BLVD, SUITE 200, TAMPA FL 33607
John A. Valentine	officer: Chief Partnership Officer	4010 W. BOY SCOUT BLVD. SUITE 200, TAMPA FL 33607
Laura Sherman	10 percent owner, other: Member of 10% owner group	4010 W BOY SCOUT BLVD, SUITE 200, TAMPA FL 33607
Lowry Baldwin	director, officer: Chairman	4010 W. BOY SCOUT BLVD. SUITE 200, TAMPA FL 33607
Daniel Galbraith	officer: Chief Operating Officer	4010 W. BOY SCOUT BLVD. SUITE 200, TAMPA FL 33607
Trevor Baldwin	director, officer: Chief Executive Officer	4010 W. BOY SCOUT BLVD. SUITE 200, TAMPA FL 33607
Kristopher Aaron Wiebeck	officer: Chief Financial Officer	4010 W. BOY SCOUT BLVD. SUITE 200, TAMPA FL 33607
Seth Bala Cohen	officer: General Counsel	C/O BRP GROUP, INC., 4211 W. BOY SCOUT BLVD., SUITE 800, TAMPA FL 33607
Sathish Muthukrishnan	director	601 S. TRYON STREET, CHARLOTTE NC 28202
Baldwin Insurance Group Holdings, Llc	10 percent owner, other: Member of 10% owner group	4010 W. BOY SCOUT BLVD. SUITE 200, TAMPA FL 33607
Ellyn Shook	director	C/O ACCENTURE, 161 N. CLARK STREET, CHICAGO IL 60601
Myron K Williams	director	C/O BRP GROUP, INC., 4211 W. BOY SCOUT BLVD., SUITE 800, TAMPA FL 33607
Sunita Parasuraman	director	C/O BRP GROUP, INC., 4211 W. BOY SCOUT BLVD., SUITE 800, TAMPA FL 33607
Jay A Cohen	director	C/O BRP GROUP, INC., 4211 W. BOY SCOUT BLVD., SUITE 800, TAMPA FL 33607
Galloway Corbyn N.	officer: Chief Accounting Officer	C/O BRP GROUP, INC., 4211 W. BOY SCOUT BLVD., SUITE 800, TAMPA FL 33607