Al Rajhi REIT Fund (SAU:4340) Interest Coverage : 2.69 (As of Dec. 2023)

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What is Al Rajhi REIT Fund 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. Al Rajhi REIT Fund's Operating Income for the six months ended in Dec. 2023 was ﷼73.0 Mil. Al Rajhi REIT Fund's Interest Expense for the six months ended in Dec. 2023 was ﷼-27.1 Mil. Al Rajhi REIT Fund's interest coverage for the quarter that ended in Dec. 2023 was 2.69. The higher the ratio, the stronger the company's financial strength is.

The historical rank and industry rank for Al Rajhi REIT Fund's Interest Coverage or its related term are showing as below:

SAU:4340' s Interest Coverage Range Over the Past 10 Years
Min: 2.49 Med: 3.77 Max: 4.88
Current: 2.49

SAU:4340's Interest Coverage is ranked worse than
58.71% of 666 companies
in the REITs industry
Industry Median: 2.945 vs SAU:4340: 2.49

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

Al Rajhi REIT Fund Interest Coverage Historical Data

The historical data trend for Al Rajhi REIT Fund'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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Al Rajhi REIT Fund Interest Coverage Chart

Al Rajhi REIT Fund Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Coverage

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3.83

3.86

3.71

3.51

2.49

Al Rajhi REIT Fund Semi-Annual Data
	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Interest Coverage	Get a 7-Day Free Trial						2.03	4.22	3.04	2.28	2.69

Competitive Comparison of Al Rajhi REIT Fund's Interest Coverage

For the REIT - Diversified subindustry, Al Rajhi REIT Fund'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.

Al Rajhi REIT Fund's Interest Coverage Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Al Rajhi REIT Fund's Interest Coverage distribution charts can be found below:

* The bar in red indicates where Al Rajhi REIT Fund's Interest Coverage falls into.

Al Rajhi REIT Fund 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.

Al Rajhi REIT Fund'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, Al Rajhi REIT Fund's Interest Expense was ﷼-52.2 Mil. Its Operating Income was ﷼130.1 Mil. And its Long-Term Debt & Capital Lease Obligation was ﷼896.4 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Dec. 2023 )	/	Interest Expense (A: Dec. 2023 )
	=	-1	*	130.099	/	-52.165
	=	2.49

Al Rajhi REIT Fund's Interest Coverage for the quarter that ended in Dec. 2023 is calculated as

Here, for the six months ended in Dec. 2023, Al Rajhi REIT Fund's Interest Expense was ﷼-27.1 Mil. Its Operating Income was ﷼73.0 Mil. And its Long-Term Debt & Capital Lease Obligation was ﷼896.4 Mil.

Interest Coverage	=	-1	*	Operating Income (Q: Dec. 2023 )	/	Interest Expense (Q: Dec. 2023 )
	=	-1	*	73.02	/	-27.148
	=	2.69

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

Al Rajhi REIT Fund (SAU:4340) 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 .

Al Rajhi REIT Fund Interest Coverage Related Terms

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

Al Rajhi REIT Fund (SAU:4340) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Al Rajhi REIT Fund (SAU:4340) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

N/A

Address

King Fahad Road, Unit No. 1, PO Box 5561, Al Muruj District, Riyadh, SAU, 11432

Website

https://www.alrajhi-capital.com

Al Rajhi REIT Fund is a close-ended real estate investment traded fund. The investment objective of the company is to invest in income-generating real estate assets. It is divided into four divisions namely Brokerage, Asset Management, Investment Banking, and Research. The Brokerage Division offers a comprehensive brokerage and execution service, The Asset management division manages global, regional, and local mutual funds. Investment Banking offers a complete range of strategic financial advisory services, including debt and equity structuring and arranging to assist clients in achieving their business and financial goals The research division focuses on delivering detailed investment analysis of regional and international equity, markets, and economies.

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