China Ming Yang Wind Power Group (China Ming Yang Wind Power Group) Interest Coverage : 2.71 (As of Sep. 2015)

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What is China Ming Yang Wind Power Group 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. China Ming Yang Wind Power Group's Operating Income for the three months ended in Sep. 2015 was $20 Mil. China Ming Yang Wind Power Group's Interest Expense for the three months ended in Sep. 2015 was $-7 Mil. China Ming Yang Wind Power Group's interest coverage for the quarter that ended in Sep. 2015 was 2.71. The higher the ratio, the stronger the company's financial strength is.

The historical rank and industry rank for China Ming Yang Wind Power Group's Interest Coverage or its related term are showing as below:

MY's Interest Coverage is not ranked ^*
in the Industrial Products industry.
Industry Median: 13.775
* Ranked among companies with meaningful Interest Coverage only.

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

China Ming Yang Wind Power Group Interest Coverage Historical Data

The historical data trend for China Ming Yang Wind Power Group'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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China Ming Yang Wind Power Group Interest Coverage Chart

China Ming Yang Wind Power Group Annual Data

Trend

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

Interest Coverage

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2.81

1.77

3.60

China Ming Yang Wind Power Group Quarterly Data
	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15	Jun15	Sep15	Dec15
Interest Coverage	Get a 7-Day Free Trial															3.75	1.86	2.50	2.71	4.06

Competitive Comparison of China Ming Yang Wind Power Group's Interest Coverage

For the Specialty Industrial Machinery subindustry, China Ming Yang Wind Power Group'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.

China Ming Yang Wind Power Group's Interest Coverage Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, China Ming Yang Wind Power Group's Interest Coverage distribution charts can be found below:

* The bar in red indicates where China Ming Yang Wind Power Group's Interest Coverage falls into.

China Ming Yang Wind Power Group 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.

China Ming Yang Wind Power Group's Interest Coverage for the fiscal year that ended in Dec. 2015 is calculated as

Here, for the fiscal year that ended in Dec. 2015, China Ming Yang Wind Power Group's Interest Expense was $-14 Mil. Its Operating Income was $49 Mil. And its Long-Term Debt & Capital Lease Obligation was $0 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Dec. 2015 )	/	Interest Expense (A: Dec. 2015 )
	=	-1	*	48.646	/	-13.513
	=	3.60

China Ming Yang Wind Power Group's Interest Coverage for the quarter that ended in Sep. 2015 is calculated as

Here, for the three months ended in Sep. 2015, China Ming Yang Wind Power Group's Interest Expense was $-7 Mil. Its Operating Income was $20 Mil. And its Long-Term Debt & Capital Lease Obligation was $0 Mil.

Interest Coverage	=	-1	*	Operating Income (Q: Sep. 2015 )	/	Interest Expense (Q: Sep. 2015 )
	=	-1	*	19.934	/	-7.355
	=	2.71

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

China Ming Yang Wind Power Group (NYSE:MY) 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 .

China Ming Yang Wind Power Group Interest Coverage Related Terms

Thank you for viewing the detailed overview of China Ming Yang Wind Power Group's Interest Coverage provided by GuruFocus.com. Please click on the following links to see related term pages.

China Ming Yang Wind Power Group (China Ming Yang Wind Power Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » China Ming Yang Wind Power Group Ltd (NYSE:MY) » Definitions » Interest Coverage

Traded in Other Exchanges

N/A

Address

Website

http://www.mywind.com.cn

China Ming Yang Wind Power Group Ltd founded in 2006. The Company is a wind turbine manufacturer in China, focusing on designing, manufacturing, selling and servicing megawatt-class wind turbines and the provision of related maintenance services in the People's Republic of China (the "PRC") and the Republic of India ("India"). Its current products consist of (i) basic models of wind turbines with a rated power capacity of 1.5MW, (ii) wind turbines with a rated power capacity of 2.0MW, and (iii) 2.5/3.0MW SCD wind turbines. Each product type may be installed with one of three rotor blade models depending on the location and wind conditions. 1.5MW wind turbines are widely used model in China. As of December 31, 2013, the Company had entered into sales contracts with 45 end customers to deliver 4,804 units of its wind turbines, representing wind power output of approximately 7,588.5MW. Its customers include five Chinese state-owned power producers, namely Huaneng, China Datang, Huadian, China Guodian Corporation, or Guodian, and China Power Investment Corporation, or CPIC, or their alternative energy subsidiaries, such as China Longyuan Power Group Corporation Limited, or Longyuan, a subsidiary of Guodian, and Datang Corporation Renewable Power Co., Limited, or Datang Renewable, a subsidiary of China Datang. The Company also sells wind turbines to regional alternative energy investment companies, regional power producers and wind farm operators in the private sector. Its facilities are currently located in Zhongshan, Tianjin, Jilin, Rudong, Dali, Inner Mongolia and Gansu (including Hami area) in China. The Company has two operating segments, which are manufacture and sale of wind turbines in PRC and the manufacture and sale of wind turbines in India. The Company competes with both domestic and international wind turbine manufacturers. Its domestic competitors include Sinovel, Goldwind, Dongfang Electric and United Power. Its key international competitors in China include Vestas from Denmark, Gamesa CorporaciÃ³n TecnolÃ³gica S.A. from Spain and GE Energy, the alternative energy arm of GE from the United States.In addition, the wind power industry also faces competition from conventional and non-wind power alternative energy technologies.

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