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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. Solitron Devices's Operating Income for the three months ended in Nov. 2023 was $0.22 Mil. Solitron Devices's Interest Expense for the three months ended in Nov. 2023 was $-0.06 Mil. Solitron Devices's interest coverage for the quarter that ended in Nov. 2023 was 3.96. The higher the ratio, the stronger the company's financial strength is.
The historical rank and industry rank for Solitron Devices's Interest Coverage or its related term are showing as below:
Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.
The historical data trend for Solitron Devices'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.
Solitron Devices Annual Data | |||||||||||||||||||||
Trend | Feb12 | Feb13 | Feb14 | Feb15 | Feb16 | Feb19 | Feb20 | Feb21 | Feb22 | Feb23 | |||||||||||
Interest Coverage | Get a 7-Day Free Trial | No Debt | N/A | 249.00 | 26.53 | - |
Solitron Devices Quarterly Data | ||||||||||||||||||||
Feb19 | May19 | Aug19 | Nov19 | Feb20 | May20 | Aug20 | Nov20 | Feb21 | May21 | Aug21 | Nov21 | Feb22 | May22 | Aug22 | Nov22 | Feb23 | May23 | Aug23 | Nov23 | |
Interest Coverage | Get a 7-Day Free Trial | - | - | 2.41 | 10.88 | 3.96 |
For the Semiconductor Equipment & Materials subindustry, Solitron Devices'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.
For the Semiconductors industry and Technology sector, Solitron Devices's Interest Coverage distribution charts can be found below:
* The bar in red indicates where Solitron Devices's Interest Coverage falls into.
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.
Solitron Devices's Interest Coverage for the fiscal year that ended in Feb. 2023 is calculated as
Here, for the fiscal year that ended in Feb. 2023, Solitron Devices's Interest Expense was $-0.11 Mil. Its Operating Income was $-0.00 Mil. And its Long-Term Debt & Capital Lease Obligation was $2.65 Mil.
Solitron Devices did not have earnings to cover the interest expense. |
Solitron Devices's Interest Coverage for the quarter that ended in Nov. 2023 is calculated as
Here, for the three months ended in Nov. 2023, Solitron Devices's Interest Expense was $-0.06 Mil. Its Operating Income was $0.22 Mil. And its Long-Term Debt & Capital Lease Obligation was $2.57 Mil.
Interest Coverage | = | -1 | * | Operating Income (Q: Nov. 2023 ) | / | Interest Expense (Q: Nov. 2023 ) |
= | -1 | * | 0.218 | / | -0.055 | |
= | 3.96 |
* 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.
The higher the ratio, the stronger the company's Financial Strength is.
Solitron Devices (OTCPK:SODI) 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 .
Thank you for viewing the detailed overview of Solitron Devices's Interest Coverage provided by GuruFocus.com. Please click on the following links to see related term pages.
Howard Timothy Eriksen | director | 567 WILDROSE CIRCLE, LYNDEN WA 98264 |
Mark Matson | officer: President and COO | 600 S. ROCKFORD DRIVE, TEMPE AZ 85281 |
Olesen Value Fund Gp Llc | 10 percent owner | C/O OLESEN CAPITAL MANAGEMENT LLC, 185 HUDSON STREET, SUITE 2539, JERSEY CITY NJ 07311 |
David William Pointer | director | PO BOX 402, NEWMAN LAKE WA 99025 |
Christian Olesen | 10 percent owner | C/O OLESEN CAPITAL MANAGEMENT LLC, 185 HUDSON STREET, SUITE 2539, JERSEY CITY NJ 07311 |
Olesen Capital Management Llc | 10 percent owner | 185 HUDSON STREET, SUITE 2539, JERSEY CITY NJ 07311 |
Olesen Value Fund L.p. | 10 percent owner | C/O OLESEN CAPITAL MANAGEMENT LLC, 185 HUDSON STREET, SUITE 2539, JERSEY CITY NJ 07311 |
John Stayduhar | other: Shareholder | C/O JOHN FARINA, 1601 FORUM PL. #900, WEST PALM BEACH FL 33401 |
Charles M Gillman | director | 1223 WILSHIRE BOULEVARD, OFFICE 648, SANTA MONICA CA 90402 |
Cedar Creek Partners Llc | other: Shareholder | 8695 GLENDALE RD., CUSTER WA 98240 |
Eriksen Capital Management Llc | other: Shareholder | 8695 GLENDALE RD., CUSTER WA 98240 |
John F Chiste | director | |
Dwight P Aubrey | director | C/O SOLITRON DEVICES, INC., 3301 ELECTRONICS WAY, WEST PALM BEACH FL 33407 |
Joseph F Gerrity | director | |
Sidney H Kopperl | director | C/O SOLITRON DEVICES, INC., 3301 ELECTRONICS WAY, WEST PALM BEACH FL 33407 |
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