Debt Covenant Headroom Excel Dashboard

Debt Covenant Headroom — financial dashboard with editable inputs and linked analysis
Free digital product — no payment required
Request your copy with your name and email
Receive the download link directly in your inbox
No credit card or billing address needed
No checkout or store account to create
Save the file and access your copy whenever you need it
Description

FINANCIAL MODELS LAB

Which test limits additional borrowing this quarter?

Use the populated dashboard to read the result, investigate its components and explore the stated decision assumptions. The workbook keeps the source figures and calculation steps available so another reviewer can trace the same selection.

Editable Excel dashboard Working sample data Interactive financial views

See the illustrative example

Month: Oct 2026, Unit: Senior facility. The workbook opens with calculated sample figures and working financial charts. Each displayed amount belongs to its labelled selection and unit of measure.

Net leverage
3.25×
Covenant limit
3.25×
Debt headroom
$417
Minimum EBITDA
$246,154

Explore the financial questions

Net-debt headroom across facilities

Evaluate net debt against trailing covenant EBITDA. Dollar repayment and incremental EBITDA are alternative cures with different units.

Covenant recovery

Reduce positive trailing covenant EBITDA and add incremental funded net debt. Assume the supplied covenant multiple and eligible cash definition remain fixed.

Covenant tests

Evaluate net debt against trailing covenant EBITDA. Dollar repayment and incremental EBITDA are alternative cures with different units.

Move between the decision views

The analytical views include Dashboard, Covenant recovery, Covenant tests. Start with the overview, then use the relevant driver, register or scenario view to explain a difference. Keep the reporting context consistent when comparing an amount with its source or another operating unit.

How to adapt the dashboard

Start with the short How to worksheet, which identifies the inputs, selectors and result views for this dashboard. Keep an unchanged copy of the sample before replacing its data. Enter your source values in the highlighted cells, review one reporting selection and reconcile a headline amount to your records. Change a material driver and check the result in its labelled unit. A decision assumption describes a modelled case; it does not replace the observed source figures.

Understand the calculation basis

Nonpositive EBITDA makes this leverage test unavailable. Contract definitions determine addbacks, eligible cash, limits and test dates. Reduce positive trailing covenant EBITDA and add incremental funded net debt. Assume the supplied covenant multiple and eligible cash definition remain fixed.

For a team review, record the selected period, operating unit, source of the inputs and the case assumptions alongside the conclusion. This context helps a colleague reproduce the result and distinguish a change in the business from a change in the modelling assumptions. The included sample is illustrative rather than company reporting.