Calculator

DSCR & FCCR Calculator

Coverage ratios answer one question: can this business actually service the debt? Here's the calculation, including the charges most owners forget to include.

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01 / Earnings

EBITDA (trailing twelve months)

Use the figure your credit agreement would recognise, capped addbacks included, unsupportable ones excluded.

02 / Debt Service

Annual interest expense

Annual scheduled principal

Required amortisation over the next twelve months.

03 / Other Fixed Charges (for FCCR)

Maintenance capital expenditure

Unfinanced capex needed to keep operating, not growth projects.

Cash taxes paid

Owner distributions / dividends

Frequently captured in the fixed-charge definition. Check your agreement.

Rent / operating leases (if capitalised in the test)

Some agreements add rent to fixed charges. Leave at zero if yours doesn't.

04 / Your Covenant (optional)

Minimum DSCR required

Minimum FCCR required

Calculated locally · Nothing transmitted

Coverage

The calculation

How much can earnings fall?

The definitions matter more than the numbers

Two agreements with identical ratios can produce different results depending on what counts as EBITDA and what counts as a fixed charge. Model yours using your own credit agreement's definitions.

Have Us Read Your Agreement How Coverage Ratios Work Covenant Headroom Calculator

Educational only. Coverage definitions vary materially between credit agreements, this uses common market conventions, not your specific contract. Not an offer of credit or a commitment to lend. Calculations run locally in your browser; no signup or account is required.