Noritake Co (TSE:5331) Interest Coverage : 451.86 (As of Dec. 2023)

View and export this data going back to 1949. Start your Free Trial

What is Noritake Co 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. Noritake Co's Operating Income for the three months ended in Dec. 2023 was 円3,163 Mil. Noritake Co's Interest Expense for the three months ended in Dec. 2023 was 円-7 Mil. Noritake Co's interest coverage for the quarter that ended in Dec. 2023 was 451.86. The higher the ratio, the stronger the company's financial strength is.

Good Sign:

Ben Graham prefers companies' interest coverage to be at least 5. Noritake Co Ltd has enough cash to cover all of its debt. Its financial situation is stable.

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

TSE:5331' s Interest Coverage Range Over the Past 10 Years
Min: 13.7 Med: 154.39 Max: 535.55
Current: 535.55

TSE:5331's Interest Coverage is ranked better than
92.44% of 397 companies
in the Conglomerates industry
Industry Median: 5.12 vs TSE:5331: 535.55

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

Noritake Co Interest Coverage Historical Data

The historical data trend for Noritake Co'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.

Noritake Co Interest Coverage Chart

Noritake Co Annual Data

Trend

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Interest Coverage

Get a 7-Day Free Trial

210.40

98.38

374.16

345.04

535.55

Noritake Co 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															287.71	469.40	508.60	451.86	886.00

Competitive Comparison of Noritake Co's Interest Coverage

For the Conglomerates subindustry, Noritake Co'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.

Noritake Co's Interest Coverage Distribution in the Conglomerates Industry

For the Conglomerates industry and Industrials sector, Noritake Co's Interest Coverage distribution charts can be found below:

* The bar in red indicates where Noritake Co's Interest Coverage falls into.

Noritake Co 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.

Noritake Co's Interest Coverage for the fiscal year that ended in Mar. 2024 is calculated as

Here, for the fiscal year that ended in Mar. 2024, Noritake Co's Interest Expense was 円-20 Mil. Its Operating Income was 円10,711 Mil. And its Long-Term Debt & Capital Lease Obligation was 円0 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Mar. 2024 )	/	Interest Expense (A: Mar. 2024 )
	=	-1	*	10711	/	-20
	=	535.55

Noritake Co's Interest Coverage for the quarter that ended in Dec. 2023 is calculated as

Here, for the three months ended in Dec. 2023, Noritake Co's Interest Expense was 円-7 Mil. Its Operating Income was 円3,163 Mil. And its Long-Term Debt & Capital Lease Obligation was 円0 Mil.

Interest Coverage	=	-1	*	Operating Income (Q: Dec. 2023 )	/	Interest Expense (Q: Dec. 2023 )
	=	-1	*	3163	/	-7
	=	451.86

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

Noritake Co (TSE:5331) 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 .

Noritake Co Interest Coverage Related Terms

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

Noritake Co (TSE:5331) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Conglomerates » Noritake Co Ltd (TSE:5331) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

NO4:Germany

Address

3-1-36, Noritake-shinmachi, Nishi-ku,, Nagoya-shi, Aichi, JPN, 451-8501

Website

http://www.noritake.co.jp

Noritake Co Ltd is engaged in manufacturing of grinding and polishing tools, electronic component materials and manufacturing equipment. The group has established four different business fields with the application and development of a variety of ceramics manufacturing technologies: Industrial Products, which supports industries with grinding wheels and diamond tools, Ceramics & Materials, which supplies ceramic raw materials to many kinds of manufacturers, Engineering which develops and proposes manufacturing equipment and technologies, and Tabletop, which offers tableware to create rich and luxurious dining.

Noritake Co (TSE:5331) Headlines

No Headlines