Air T (AIRT) Interest Coverage

: 0 (At Loss) (As of Dec. 2023)

View and export this data going back to 1984. Start your Free Trial

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. Air T's Operating Income for the three months ended in Dec. 2023 was $-1.3 Mil. Air T's Interest Expense for the three months ended in Dec. 2023 was $-1.5 Mil. did not have earnings to cover the interest expense. The higher the ratio, the stronger the company's financial strength is.

The historical rank and industry rank for Air T's Interest Coverage or its related term are showing as below:

AIRT' s Interest Coverage Range Over the Past 10 Years
Min: 0.04 Med: 2.84 Max: No Debt
Current: 0.04

AIRT's Interest Coverage is ranked worse than
99.88% of 813 companies
in the Transportation industry
Industry Median: 5.69 vs AIRT: 0.04

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

Air T Interest Coverage Historical Data

The historical data trend for Air T'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.

Air T Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Interest Coverage

2.84

1.63

1.99

0.43

Air T Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Interest Coverage																0.35	0.06	0.36	0.41	-

Competitive Comparison

For the Integrated Freight & Logistics subindustry, Air T'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.

Air T Interest Coverage Distribution

For the Transportation industry and Industrials sector, Air T's Interest Coverage distribution charts can be found below:

* The bar in red indicates where Air T's Interest Coverage falls into.

Air T 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.

Air T's Interest Coverage for the fiscal year that ended in Mar. 2023 is calculated as

Here, for the fiscal year that ended in Mar. 2023, Air T's Interest Expense was $-7.9 Mil. Its Operating Income was $3.4 Mil. And its Long-Term Debt & Capital Lease Obligation was $97.1 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Mar. 2023 )	/	Interest Expense (A: Mar. 2023 )
	=	-1	*	3.441	/	-7.932
	=	0.43

Air T's Interest Coverage for the quarter that ended in Dec. 2023 is calculated as

Here, for the three months ended in Dec. 2023, Air T's Interest Expense was $-1.5 Mil. Its Operating Income was $-1.3 Mil. And its Long-Term Debt & Capital Lease Obligation was $94.4 Mil.

Air T did not have earnings to cover the interest expense.

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

Air T (NAS:AIRT) 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 .

Air T Interest Coverage Related Terms

Thank you for viewing the detailed overview of Air T's Interest Coverage provided by GuruFocus.com. Please click on the following links to see related term pages.

Air T (AIRT) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Air T Inc (NAS:AIRT) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

AIRTP.PFD:USA GXT:Germany

Address

11020 David Taylor Drive, Suite 305, Charlotte, NC, USA, 28262

Website

https://www.airt.net

Air T Inc together with its subsidiaries provides air freight service to the express delivery industry. The company's operating segments include Overnight air cargo, Ground equipment sales, and Ground support services, Commercial jet engines and parts, Corporate and Other. It generates maximum revenue from the Overnight air cargo segment.

Executives

Raymond E Cabillot	director, 10 percent owner	3033 EXCELSIOR BLVD., STE 560, MINNEAPOLIS MN 55416
Peter B. Mcclung	director	14101 SOUTHERN ROAD, GRANDVIEW MO 64030
Nicholas John Swenson	10 percent owner	5000 WEST 36TH STREET, SUITE 130, MINNEAPOLIS MN 55416
Gary S Kohler	director	5000 W 36TH STREET, SUITE 115, MINNEAPOLIS MN 55416
Seth G Barkett	director	495 WEST MT. GARFIELD ROAD, NORTON SHORES MI 49441
Brett Reynolds	officer: CFO	5000 W 36TH STREET, MINNEAPOLIS MN 55416
John A Reeves	director	570 BALLYMOTE COURT, MATTHEWS NC 28104
Travis Jacob Swenson	director	6016 EDEN PRAIRIE ROAD, MINNETONKA MN 55345
Air T Inc	10 percent owner	11020 DAVID TAYLOR DRIVE, SUITE 305, CHARLOTTE NC 28262
Koutsouvas Constantine	officer: General Counsel	AIR T, INC., 5000 WEST 36TH, SUITE 130, MINNEAPOLIS MN 55416
William R Foudray	director	19192 POPLAR CIRCLE, EDEN PRAIRIE MN 55347
Biglari Capital Corp.	10 percent owner	19100 RIDGEWOOD PKWY, SUITE 1200, SAN ANTONIO TX 78259
Sardar Biglari,	10 percent owner	C/O BIGLARI HOLDINGS INC., 19100 RIDGEWOOD PKWY, SUITE 1200, SAN ANTONIO TX 78259
Lion Fund Ii, L.p.	10 percent owner	19100 RIDGEWOOD PKWY, SUITE 1200, SAN ANTONIO TX 78259
Andrew Stumpf	director	5444 CREEKMONTE DR., OAKLAND TWP MI 48306