Carmit Candy Industries (XTAE:CRMT) Interest Coverage : 1.28 (As of Dec. 2023)

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What is Carmit Candy Industries 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. Carmit Candy Industries's Operating Income for the six months ended in Dec. 2023 was ₪6.1 Mil. Carmit Candy Industries's Interest Expense for the six months ended in Dec. 2023 was ₪-4.8 Mil. Carmit Candy Industries's interest coverage for the quarter that ended in Dec. 2023 was 1.28. The higher the ratio, the stronger the company's financial strength is.

The historical rank and industry rank for Carmit Candy Industries's Interest Coverage or its related term are showing as below:

XTAE:CRMT' s Interest Coverage Range Over the Past 10 Years
Min: 1.07 Med: 4.13 Max: 11.82
Current: 1.25

XTAE:CRMT's Interest Coverage is ranked worse than
91.15% of 1368 companies
in the Consumer Packaged Goods industry
Industry Median: 8.47 vs XTAE:CRMT: 1.25

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

Carmit Candy Industries Interest Coverage Historical Data

The historical data trend for Carmit Candy Industries'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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Carmit Candy Industries Interest Coverage Chart

Carmit Candy Industries Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Coverage

Get a 7-Day Free Trial

9.72

4.13

1.07

1.25

Carmit Candy Industries Semi-Annual Data
	Dec16	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Interest Coverage	Get a 7-Day Free Trial									-	1.48	0.61	1.22	1.28

Competitive Comparison of Carmit Candy Industries's Interest Coverage

For the Confectioners subindustry, Carmit Candy Industries'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.

Carmit Candy Industries's Interest Coverage Distribution in the Consumer Packaged Goods Industry

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

* The bar in red indicates where Carmit Candy Industries's Interest Coverage falls into.

Carmit Candy Industries 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.

Carmit Candy Industries'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, Carmit Candy Industries's Interest Expense was ₪-10.1 Mil. Its Operating Income was ₪12.6 Mil. And its Long-Term Debt & Capital Lease Obligation was ₪68.2 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Dec. 2023 )	/	Interest Expense (A: Dec. 2023 )
	=	-1	*	12.632	/	-10.126
	=	1.25

Carmit Candy Industries's Interest Coverage for the quarter that ended in Dec. 2023 is calculated as

Here, for the six months ended in Dec. 2023, Carmit Candy Industries's Interest Expense was ₪-4.8 Mil. Its Operating Income was ₪6.1 Mil. And its Long-Term Debt & Capital Lease Obligation was ₪68.2 Mil.

Interest Coverage	=	-1	*	Operating Income (Q: Dec. 2023 )	/	Interest Expense (Q: Dec. 2023 )
	=	-1	*	6.125	/	-4.771
	=	1.28

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

Carmit Candy Industries (XTAE:CRMT) 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 .

Carmit Candy Industries Interest Coverage Related Terms

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

Carmit Candy Industries (XTAE:CRMT) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » Carmit Candy Industries Ltd (XTAE:CRMT) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

N/A

Address

25 Hahagana Street, Rishon Lezion, ISR, 75706

Website

http://www.carmit.co.il

Carmit Candy Industries Ltd is a confectionery manufacturer. It produces confectionery products for private label brands. Its products include chocolate coins, marshmallows, Dairy-free chocolate, lollipops and toffees, and chocolate bars, among others. It caters to industrial and professional markets in Israel and produces chocolate, which serves as raw material for the chocolate, ice cream, dairy, confectionery, bakery and other industries.