Interest cover ratio

Der Zinsdeckungsgrad (englisch: Interest coverage ratio, ICR) ist eine betriebswirtschaftliche Kennzahl, welche angibt ob ein Unternehmen aus dem Free Cash Flow, also dem frei verfügbaren Cash-Flow (Cash-Flow vor Dividenden und nach laufenden Investitionen) die Zinszahlungen für Kredite bedienen kann. Der Zinsdeckungsgrad berechnet sich wie folgt:

\mbox{Zinsdeckungsgrad} = \frac{\mbox{EBIT}}{\mbox{Zinsaufwendungen}}

Ein Zinsdeckungsgrad von < 1 bedeutet, dass das Unternehmen Zinszahlungen für Kredite nicht aus dem operativen Geschäft tätigt.

Häufig gehört der Zinsdeckungsgrad zu den vertraglichen Zusicherungen (Covenants) eines Kreditnehmers während der Laufzeit eines Kreditvertrages.

Siehe auch

Literatur

  • Zoller, Edgar und Dinauer, Josef (2003). Real Estate Investment Banking: Neue Finanzierungsformen bei Immobilienfinanzierungen. ISBN 3409121986, Gabler Verlag

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