What is Heartware International, 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. Heartware International,'s
Operating Income
for the
three
months ended in Jun. 2016 was €-5.7 Mil. Heartware International,'s Interest Expense for the
three
months ended in Jun. 2016 was €-3.4 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 Heartware International,'s Interest Coverage or its related term are showing as below:
FRA:HIY1's Interest Coverage is not ranked *
in the Medical Devices & Instruments industry.
Industry Median: 17.5 * Ranked among companies with meaningful Interest Coverage only.
* 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.
Competitive Comparison of Heartware International,'s Interest Coverage
For the Medical Devices subindustry, Heartware International,'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.
Heartware International,'s Interest Coverage Distribution in the Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Heartware International,'s Interest Coverage distribution charts can be found below:
* The bar in red indicates where Heartware International,'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:
Heartware International, 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.
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 .
Heartware International, Interest Coverage Related Terms
Thank you for viewing the detailed overview of Heartware International,'s Interest Coverage provided by GuruFocus.com. Please click on the following links to see related term pages.
Heartware International, (FRA:HIY1) Business Description
Heartware International Inc was incorporated in Delaware on July 29, 2008 and became the successor issuer to HeartWare Limited, an Australian corporation, on November 13, 2008, as a result of the Australian Court approved redomiciliation of HeartWare Limited from Australia to Delaware. HeartWare is a medical device company engaged in developing implantable blood pumps for the treatment of advanced heart failure. The Company operates one reportable segment which includes the design, manufacture and marketing of medical devices for the treatment of advanced heart failure. The HeartWare Ventricular Assist System, which includes a left ventricular assist device, or blood pump, patient accessories and surgical tools, is designed to provide circulatory support for patients with advanced heart failure. Beyond the HeartWare System, the company is also evaluating its next device, the Miniaturized Ventricular Assist Device. The MVAD is based on the same technology platform as the HeartWare System but adopts an axial flow, rather than a centrifugal flow, configuration and is being developed in multiple configurations. The MVAD designs are currently at the preclinical stage and undergoing animal studies focused on minimally invasive implantation techniques and are each approximately one-third the size of the HVAD Pump. The Company's competitors in the implantable cardiac assist space include Thoratec Corporation, Jarvik Heart, Inc., MicroMed Cardiovascular, Berlin Heart GmbH, and Sunshine Heart, Inc. HEARTWARE, HVAD, MVAD, PAL, CIRCULITE, SYNERGY and various company logos are the trademarks of the Company, in the United States, Europe, Australia and other countries.
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