ICL Group (ICL Group) Interest Coverage : 3.38 (As of Mar. 2024)

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What is ICL 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. ICL Group's Operating Income for the three months ended in Mar. 2024 was $203 Mil. ICL Group's Interest Expense for the three months ended in Mar. 2024 was $-60 Mil. ICL Group's interest coverage for the quarter that ended in Mar. 2024 was 3.38. The higher the ratio, the stronger the company's financial strength is.

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

ICL' s Interest Coverage Range Over the Past 10 Years
Min: 3.04 Med: 7.24 Max: 25.14
Current: 7.12

ICL's Interest Coverage is ranked better than
50.28% of 177 companies
in the Agriculture industry
Industry Median: 6.69 vs ICL: 7.12

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

ICL Group Interest Coverage Historical Data

The historical data trend for ICL 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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ICL Group Interest Coverage Chart

ICL Group Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Coverage

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6.92

3.04

11.07

25.14

7.56

ICL Group Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Interest Coverage	Get a 7-Day Free Trial															5.34	3.37	2.87	-	3.38

Competitive Comparison of ICL Group's Interest Coverage

For the Agricultural Inputs subindustry, ICL 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.

ICL Group's Interest Coverage Distribution in the Agriculture Industry

For the Agriculture industry and Basic Materials sector, ICL Group's Interest Coverage distribution charts can be found below:

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

ICL 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.

ICL 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, ICL Group's Interest Expense was $-160 Mil. Its Operating Income was $1,209 Mil. And its Long-Term Debt & Capital Lease Obligation was $1,829 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Dec. 2023 )	/	Interest Expense (A: Dec. 2023 )
	=	-1	*	1209	/	-160
	=	7.56

ICL Group's Interest Coverage for the quarter that ended in Mar. 2024 is calculated as

Here, for the three months ended in Mar. 2024, ICL Group's Interest Expense was $-60 Mil. Its Operating Income was $203 Mil. And its Long-Term Debt & Capital Lease Obligation was $1,883 Mil.

Interest Coverage	=	-1	*	Operating Income (Q: Mar. 2024 )	/	Interest Expense (Q: Mar. 2024 )
	=	-1	*	203	/	-60
	=	3.38

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

ICL Group (NYSE:ICL) 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 .

ICL Group Interest Coverage Related Terms

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ICL Group (ICL Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Agriculture » ICL Group Ltd (NYSE:ICL) » Definitions » Interest Coverage

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Traded in Other Exchanges

ICL:Israel

Address

23 Aranha Street, P.O. Box 20245, Millennium Tower, Tel-Aviv, ISR, 61202

Website

https://www.icl-group.com

ICL Group Ltd is a manufacturer of products based on minerals. The firm is comprised of four segments: phosphate solutions, potash, industrial products, and growing solutions. These segments all contribute to the company's development of agriculture, food, and engineered material products and services. The company mines and manufactures potash and phosphates to be used as ingredients in fertilizers and serve as a component in the pharmaceutical and food additives industries. It is also engaged in industrial additives and materials, including flame retardants, phosphate salts, specialty phosphate blends, purified phosphoric acid, electronic-grade specialty phosphoric acids. Its geographical segments are Europe, Asia, North and South America, and the Rest of the world.