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Toromont Industries (TSX:TIH) Interest Expense : C$-28 Mil (TTM As of Mar. 2024)


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What is Toromont Industries Interest Expense?

Interest Expense is the amount reported by a company or individual as an expense for borrowed money. Toromont Industries's interest expense for the three months ended in Mar. 2024 was C$ -7 Mil. Its interest expense for the trailing twelve months (TTM) ended in Mar. 2024 was C$-28 Mil.

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. Toromont Industries's Operating Income for the three months ended in Mar. 2024 was C$ 107 Mil. Toromont Industries's Interest Expense for the three months ended in Mar. 2024 was C$ -7 Mil. Toromont Industries's Interest Coverage for the quarter that ended in Mar. 2024 was 15.24. The higher the ratio, the stronger the company's financial strength is. Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Toromont Industries Interest Expense Historical Data

The historical data trend for Toromont Industries's Interest Expense 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.

* Premium members only.

Toromont Industries Interest Expense Chart

Toromont Industries Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Interest Expense
Get a 7-Day Free Trial Premium Member Only Premium Member Only -27.71 -29.98 -28.16 -27.33 -28.10

Toromont Industries Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Interest Expense Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -6.90 -7.02 -7.05 -7.12 -6.99

Toromont Industries Interest Expense Calculation

Interest Expense is the amount reported by a company or individual as an expense for borrowed money.

Interest Expense for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was C$-28 Mil.

* 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.

Toromont Industries  (TSX:TIH) Interest Expense Explanation

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. The higher, the better.

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

Toromont Industries's Interest Expense for the three months ended in Mar. 2024 was C$-7 Mil. Its Operating Income for the three months ended in Mar. 2024 was C$107 Mil. And its Long-Term Debt & Capital Lease Obligation for the three months ended in Mar. 2024 was C$675 Mil.

Toromont Industries's Interest Coverage for the quarter that ended in Mar. 2024 is calculated as

Interest Coverage=-1* Operating Income (Q: Mar. 2024 )/Interest Expense (Q: Mar. 2024 )
=-1*106.585/-6.994
=15.24

* 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.

The higher the ratio, the stronger the company's financial strength is.

Toromont Industries (TSX:TIH) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Distribution » Toromont Industries Ltd (TSX:TIH) » Definitions » Interest Expense
Comparable Companies
TSX:FTT TSX:RUS TSX:ADEN TSX:WJX TSX:DBM GWW FERG FAST WSO POOL ASX:REH CNM OSTO:INDT WCC SITE AIT BECN LSE:DPLM OSTO:ADDT B XKRX:047050
Traded in Other Exchanges
TMTNF:USA 14T:Germany
Address
3131 Highway 7 West, P.O. Box 5511, Concord, ON, CAN, L4K 1B7
Website
https://www.toromont.com
Toromont Industries Ltd is a Canadian industrial company. The company operates two business segments: Equipment Group and CIMCO. The larger segment by revenue, Equipment Group includes a Caterpillar dealership and rental operation of construction equipment. CIMCO offers solutions for the design, engineering, fabrication, and installation of industrial and recreational refrigeration systems. The company operates majorly in Canada and derives a smaller portion of sales from the United States of America.
Executives
Jennifer Cochrane Senior Officer
Miles Sean Ryan Gregg Senior Officer
Mike Cuddy Senior Officer
David Allan Malinauskas Director or Senior Officer of Insider or Subsidiary (other than in 4,5,6)

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