Premier1 Lithium (ASX:PLC) Interest Coverage : 0 (At Loss) (As of Jun. 2024)

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What is Premier1 Lithium 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. Premier1 Lithium's Operating Income for the six months ended in Jun. 2024 was A$-5.80 Mil. Premier1 Lithium's Interest Expense for the six months ended in Jun. 2024 was A$-0.03 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 Premier1 Lithium's Interest Coverage or its related term are showing as below:

ASX:PLC's Interest Coverage is not ranked ^*
in the Metals & Mining industry.
Industry Median: No Debt
* 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.

Premier1 Lithium Interest Coverage Historical Data

The historical data trend for Premier1 Lithium'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.

Premier1 Lithium Interest Coverage Chart

Premier1 Lithium Annual Data

Trend

Jun21

Jun22

Jun23

Jun24

Interest Coverage

N/A

Premier1 Lithium Semi-Annual Data
	Jun22	Dec22	Jun23	Dec23	Jun24
Interest Coverage	N/A	-	-	-	-

Competitive Comparison of Premier1 Lithium's Interest Coverage

For the Other Industrial Metals & Mining subindustry, Premier1 Lithium'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.

Premier1 Lithium's Interest Coverage Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Premier1 Lithium's Interest Coverage distribution charts can be found below:

* The bar in red indicates where Premier1 Lithium's Interest Coverage falls into.

Premier1 Lithium 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.

Premier1 Lithium's Interest Coverage for the fiscal year that ended in Jun. 2024 is calculated as

Here, for the fiscal year that ended in Jun. 2024, Premier1 Lithium's Interest Expense was A$-0.07 Mil. Its Operating Income was A$-8.24 Mil. And its Long-Term Debt & Capital Lease Obligation was A$0.00 Mil.

Premier1 Lithium did not have earnings to cover the interest expense.

Premier1 Lithium's Interest Coverage for the quarter that ended in Jun. 2024 is calculated as

Here, for the six months ended in Jun. 2024, Premier1 Lithium's Interest Expense was A$-0.03 Mil. Its Operating Income was A$-5.80 Mil. And its Long-Term Debt & Capital Lease Obligation was A$0.00 Mil.

Premier1 Lithium did not have earnings to cover the interest expense.

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

Premier1 Lithium (ASX:PLC) 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 .

Premier1 Lithium Interest Coverage Related Terms

Thank you for viewing the detailed overview of Premier1 Lithium's Interest Coverage provided by GuruFocus.com. Please click on the following links to see related term pages.

Premier1 Lithium Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Premier1 Lithium Ltd (ASX:PLC) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

N/A

Address

22 Mount Street, Level 2, Perth, WA, AUS, 6000

Website

https://www.premier1lithium.com.au

Premier1 Lithium Ltd is an lithium exploration company. The Group undertook technology R&D and mineral exploration of gold, nickel, lithium and other base metals in Australia during the period. The company has two operating segments: Exploration and evaluation and Corporate. Its project includes Abbotts North project in Western Australia, The Yalgoo and Yalgoo West project and Montague Project. Maximum revenue is gained through Exploration and Evaluation segment.