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. Nova Eye Medical's
Operating Income
for the
six
months ended in Dec. 2025 was $-3.05 Mil. Nova Eye Medical's Interest Expense for the
six
months ended in Dec. 2025 was $-0.05 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 Nova Eye Medical's Interest Coverage or its related term are showing as below:
ELXMF's Interest Coverage is not ranked *
in the Medical Devices & Instruments industry.
Industry Median: 15.72 * Ranked among companies with meaningful Interest Coverage only.
Nova Eye Medical (OTCPK:ELXMF) 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 .
Nova Eye Medical Interest Coverage Related Terms
Nova Eye Medical Interest Coverage Historical Data
* Premium members only.
The historical data trend for Nova Eye Medical'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.
ELXMF vs ABT, SYK, MDT: Interest Coverage Comparison
For the Medical Devices subindustry, Nova Eye Medical'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.
Nova Eye Medical Interest Coverage vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Nova Eye Medical's Interest Coverage distribution charts can be found below:
* The bar in red indicates where Nova Eye Medical's Interest Coverage falls into.
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:
Nova Eye Medical did not have earnings to cover the interest expense.
* 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.
What does a Interest Coverage of 0 (At Loss) mean?
Nova Eye Medical (ELXMF) has a Interest Coverage of 0 (At Loss) as of Dec. 2025. Interest Coverage measures a company's capability to pay interest expenses on its debt. View historical data on Nova Eye Medical and its competitors. According to the industry distribution chart, Nova Eye Medical ranks #999999 out of 467 companies in the Medical Devices & Instruments industry.
Is Nova Eye Medical's Interest Coverage too high?
Nova Eye Medical's current Interest Coverage is 0 (At Loss). Based on the distribution chart, Nova Eye Medical ranks #999999 out of 467 companies in the Medical Devices & Instruments industry, which is in the bottom quartile relative to peers. Overall, Nova Eye Medical has a GF Score™ of 55/100, reflecting its overall financial health beyond just this single metric.
How does Nova Eye Medical's Interest Coverage compare to ABT and SYK?
According to the Medical Devices & Instruments industry distribution chart, Nova Eye Medical ranks #999999 out of 467 companies for Interest Coverage. This places Nova Eye Medical in the lower half of its industry. The industry median Interest Coverage is 15.72. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Interest Coverage for a Medical Devices & Instruments company?
The median Interest Coverage among Medical Devices & Instruments companies is 15.72, based on 467 companies in the industry. Companies in the top quartile (top 25%) have a Interest Coverage significantly above this median, while those in the bottom quartile fall well below. However, Interest Coverage should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Interest Coverage mean?
A high Interest Coverage can signal that a stock is expensive relative to its fundamentals. Interest Coverage measures a company's capability to pay interest expenses on its debt. View historical data on Nova Eye Medical and its competitors. For the Medical Devices & Instruments industry, the median Interest Coverage is 15.72 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nova Eye Medical's current Interest Coverage is 0 (At Loss). However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nova Eye Medical stock overvalued right now?
Nova Eye Medical (ELXMF) has a current Interest Coverage of 0 (At Loss). The stock's GF Value™ is $0.02, compared to a current price of $0.01 — trading 28.5% below its estimated fair value. The current Interest Coverage is 0 (At Loss). Nova Eye Medical's overall GF Score™ is 55/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Interest Coverage calculated?
Interest Coverage is calculated from a company's financial statements. For Nova Eye Medical (ELXMF), the current Interest Coverage is 0 (At Loss) as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Nova Eye Medical (ELXMF) Overvalued in 2026?
Based on GuruFocus' analysis, Nova Eye Medical stock appears to be undervalued.
The current stock price of $0.01 is trading 28.5% below its estimated GF Value™ of $0.02.
Key valuation signals for ELXMF:
Interest Coverage: 0 (At Loss)
GF Value™: $0.02 vs. price of $0.01 (28.5% below fair value)
No single metric tells the full story. See the ELXMF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nova Eye Medical Ltd develops and sells surgical devices for the treatment of glaucoma, a cause of blindness. In addition, the company is involved in the commercialisation of the subthreshold nano-pulse ophthalmic laser, 2RT, for the treatment of retinal disease via the AlphaRET segment. The company's reportable segments are: Glaucoma Surgical Devices and AlphaRET. The majority of its revenue is generated from the Glaucoma Surgical Devices segment, which is involved in the design, manufacture, marketing, and sale of the iTrack, iTrack Advance, and the Molteno3 glaucoma surgical device. These are all single-use surgical devices. Geographically, the company generates maximum revenue from the United States of America, followed by Europe, the Asia Pacific, Other regions, and Australia.
55GF Score
Get the complete analysis for ELXMF
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