Oceana Group (JSE:OCE) Interest Coverage : 6.25 (As of Sep. 2023)

View and export this data going back to 1947. Start your Free Trial

What is Oceana 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. Oceana Group's Operating Income for the six months ended in Sep. 2023 was R766 Mil. Oceana Group's Interest Expense for the six months ended in Sep. 2023 was R-123 Mil. Oceana Group's interest coverage for the quarter that ended in Sep. 2023 was 6.25. The higher the ratio, the stronger the company's financial strength is.

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

JSE:OCE' s Interest Coverage Range Over the Past 10 Years
Min: 2.84 Med: 5.15 Max: 47.89
Current: 6.1

JSE:OCE's Interest Coverage is ranked worse than
56.61% of 1369 companies
in the Consumer Packaged Goods industry
Industry Median: 8.41 vs JSE:OCE: 6.10

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

Oceana Group Interest Coverage Historical Data

The historical data trend for Oceana 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.

* Premium members only.

Oceana Group Interest Coverage Chart

Oceana Group Annual Data

Trend

Sep14

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

Interest Coverage

Get a 7-Day Free Trial

3.91

4.72

5.57

6.18

6.10

Oceana Group Semi-Annual Data
	Mar14	Sep14	Mar15	Sep15	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23
Interest Coverage	Get a 7-Day Free Trial															6.12	4.52	7.42	5.93	6.25

Competitive Comparison of Oceana Group's Interest Coverage

For the Packaged Foods subindustry, Oceana 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.

Oceana Group's Interest Coverage Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Oceana Group's Interest Coverage distribution charts can be found below:

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

Oceana 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.

Oceana Group's Interest Coverage for the fiscal year that ended in Sep. 2023 is calculated as

Here, for the fiscal year that ended in Sep. 2023, Oceana Group's Interest Expense was R-231 Mil. Its Operating Income was R1,410 Mil. And its Long-Term Debt & Capital Lease Obligation was R2,048 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Sep. 2023 )	/	Interest Expense (A: Sep. 2023 )
	=	-1	*	1410	/	-231
	=	6.10

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

Here, for the six months ended in Sep. 2023, Oceana Group's Interest Expense was R-123 Mil. Its Operating Income was R766 Mil. And its Long-Term Debt & Capital Lease Obligation was R2,048 Mil.

Interest Coverage	=	-1	*	Operating Income (Q: Sep. 2023 )	/	Interest Expense (Q: Sep. 2023 )
	=	-1	*	766.499	/	-122.571
	=	6.25

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

Oceana Group (JSE:OCE) 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 .

Oceana Group Interest Coverage Related Terms

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

Oceana Group (JSE:OCE) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » Oceana Group Ltd (JSE:OCE) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

OCGPF:USA OCG:Namibia O1F:Germany

Address

25 Jan Smuts Street, 9th Floor, Oceana House, Foreshore, Cape Town, WC, ZAF, 8001

Website

https://www.oceana.co.za

Oceana Group Ltd is an African fishing company focused on catching, procuring, processing, marketing, and distributing canned fish, fishmeal, fish oil, lobster, horse mackerel, squid, and hake. Oceana Group also provides refrigerated warehouse facilities and logistical support services. The company's principal market is the lower-end consumer who prefers canned fish and horse mackerel. The majority of Oceana Group's revenue is derived from South Africa and Nambia. The company operates through four segments: Canned Fish and Fishmeal (Africa), which contributes the majority portion of revenue; Fishmeal and Fish Oil (USA); Horse Mackerel, Hake, Lobster, and Squid; and Commercial Cold Storage Logistics.

Oceana Group (JSE:OCE) Headlines

No Headlines