SP Plus (SP Plus) Interest Coverage : 1.57 (As of Dec. 2023)

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What is SP Plus 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. SP Plus's Operating Income for the three months ended in Dec. 2023 was $12 Mil. SP Plus's Interest Expense for the three months ended in Dec. 2023 was $-8 Mil. SP Plus's interest coverage for the quarter that ended in Dec. 2023 was 1.57. The higher the ratio, the stronger the company's financial strength is.

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

SP' s Interest Coverage Range Over the Past 10 Years
Min: 2.22 Med: 4.68 Max: 8.85
Current: 2.66

SP's Interest Coverage is ranked worse than
82.17% of 791 companies
in the Business Services industry
Industry Median: 13.44 vs SP: 2.66

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

SP Plus Interest Coverage Historical Data

The historical data trend for SP Plus'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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SP Plus Interest Coverage Chart

SP Plus Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Coverage

Get a 7-Day Free Trial

4.75

3.14

4.68

2.66

SP Plus Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Interest Coverage	Get a 7-Day Free Trial															2.44	2.84	3.47	2.84	1.57

Competitive Comparison of SP Plus's Interest Coverage

For the Specialty Business Services subindustry, SP Plus'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.

SP Plus's Interest Coverage Distribution in the Business Services Industry

For the Business Services industry and Industrials sector, SP Plus's Interest Coverage distribution charts can be found below:

* The bar in red indicates where SP Plus's Interest Coverage falls into.

SP Plus 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.

SP Plus'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, SP Plus's Interest Expense was $-29 Mil. Its Operating Income was $78 Mil. And its Long-Term Debt & Capital Lease Obligation was $494 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Dec. 2023 )	/	Interest Expense (A: Dec. 2023 )
	=	-1	*	77.5	/	-29.1
	=	2.66

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

Here, for the three months ended in Dec. 2023, SP Plus's Interest Expense was $-8 Mil. Its Operating Income was $12 Mil. And its Long-Term Debt & Capital Lease Obligation was $494 Mil.

Interest Coverage	=	-1	*	Operating Income (Q: Dec. 2023 )	/	Interest Expense (Q: Dec. 2023 )
	=	-1	*	11.9	/	-7.6
	=	1.57

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

SP Plus (NAS:SP) 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 .

SP Plus Interest Coverage Related Terms

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

SP Plus (SP Plus) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Business Services » SP Plus Corp (NAS:SP) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

PZA:Germany

Address

200 East Randolph Street, Suite 7700, Chicago, IL, USA, 60601-7702

Website

https://www.spplus.com

SP Plus Corp Provides parking management, ground transportation, and other ancillary services to commercial, institutional, and municipal clients in urban markets and airports across the United States, Canada, and Puerto Rico. Its services include a comprehensive set of on-site parking management and ground transportation services, In addition, the company also provides a range of ancillary services such as airport and municipal shuttle operations, valet services, taxi and livery dispatch services, and municipal meter revenue collection and enforcement services. Its reportable segments are Commercial and Aviation. The company generates a majority of its revenue from the Commercial segment.

Executives

G Marc Baumann	officer: CFO, Treas & Pres of Urban Ops	900 NORTH MICHIGAN AVENUE SUITE 1600, CHICAGO IL 60611
Christopher R Sherman	officer: President, Commercial Division	C/O SP PLUS CORPORATION, 200 EAST RANDOLPH STREET, SUITE 7700, CHICAGO IL 60601
Robert Toy	officer: Executive VP, Operations	C/O STANDARD PARKING CORPORATION, 900 N. MICHIGAN AVENUE, CHICAGO IL 60611
John Ricchiuto	officer: Exec. VP, Airport Division	900 NORTH MICHIGAN AVENUE SUITE 1600, CHICAGO IL 60611
Gary T Roberts	officer: SVP, Corp. Cont., Asst. Treas.	C/O SP PLUS CORPORATION, 200 EAST RANDOLPH STREET, SUITE 7700, CHICAGO IL 60601
Diana L Sands	director	100 N RIVERSIDE PLAZA, M/C 5003-1001, CHICAGO IL 60606
Kristopher H Roy	officer: VP, Corporate Controller	C/O SP PLUS CORPORATION, 200 E. RANDOLPH STREET, SUITE 7700, CHICAGO IL 60601
Robert A Miles	officer: President, Bags	C/O SP PLUS CORPORATION, 200 E. RANDOLPH STREET, SUITE 7700, CHICAGO IL 60601
Gerard M Klaisle	officer: Exec. VP & Chief H.R. Officer
Ritu Vig	officer: Chief Legal Officer	C/O SP PLUS CORPORATION, 200 E. RANDOLPH ST., SUITE 7700, CHICAGO IL 60601
Thomas L Hagerman	officer: Exec. VP, Business Development	900 NORTH MICHIGAN SUITE 1600, CHICAGO IL 60611
Alice M Peterson	director	3333 BEVERLY RD B5-153A, HOFFMAN ESTTES IL 60179
Robert N Sacks	officer: Exec. VP, Gen. Counsel & Sec.	900 NORTH MICHIGAN AVENUE SUITE 1600, CHICAGO IL 60611
Robert S Roath	director	781 THIRD AVENUE, KING OF PRUSSIA PA 194061409
Kohlberg Cpc Rep, L.l.c.	director, 10 percent owner	C/O KOHLBERG & COMPANY, LLC, 111 RADIO CIRCLE, MT. KISCO NY 10549