Onex (ONEXF) Interest Coverage : N/A (As of Dec. 2023)

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What is Onex 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. Onex's Operating Income for the three months ended in Dec. 2023 was $381 Mil. Onex's Interest Expense for the three months ended in Dec. 2023 was $0 Mil. GuruFocus does not calculate 's interest coverage with the available data. The higher the ratio, the stronger the company's financial strength is.

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

ONEXF's Interest Coverage is not ranked ^*
in the Asset Management industry.
Industry Median: 38.64
* 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.

Onex Interest Coverage Historical Data

The historical data trend for Onex'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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Onex Interest Coverage Chart

Onex Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Coverage

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372.00

416.00

704.00

118.50

371.00

Onex 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															N/A	N/A	N/A	N/A	N/A

Competitive Comparison of Onex's Interest Coverage

For the Asset Management subindustry, Onex'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.

Onex's Interest Coverage Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Onex's Interest Coverage distribution charts can be found below:

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

Onex 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.

Onex'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, Onex's Interest Expense was $-2 Mil. Its Operating Income was $742 Mil. And its Long-Term Debt & Capital Lease Obligation was $3,935 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Dec. 2023 )	/	Interest Expense (A: Dec. 2023 )
	=	-1	*	742	/	-2
	=	371.00

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

Here, for the three months ended in Dec. 2023, Onex's Interest Expense was $0 Mil. Its Operating Income was $381 Mil. And its Long-Term Debt & Capital Lease Obligation was $3,935 Mil.

GuruFocus does not calculate Onex's interest coverage with the available data.

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

Onex (OTCPK:ONEXF) 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 .

Onex Interest Coverage Related Terms

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

Onex (ONEXF) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Onex Corporation (OTCPK:ONEXF) » Definitions » Interest Coverage

Comparable Companies

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ONE:Germany ONEX:Canada

Address

161 Bay Street, 49th Floor, P.O. Box 700, Toronto, ON, CAN, M5J 2S5

Website

https://www.onex.com

Onex Corporation is a private equity investor and asset management firm. The company operates in two reportable segments: investing, which comprises the activity of investing Onex' capital and asset management, which comprises the asset management activities provided by Onex to support its private equity and Credit strategies, as well as Onex's corporate functions. The majority of the company's revenue is generated through the investing segment.