New Horizon Aircraft (New Horizon Aircraft) Interest Coverage : 0 (At Loss) (As of May. 2023)

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What is New Horizon Aircraft 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. New Horizon Aircraft's Operating Income for the six months ended in May. 2023 was $-0.80 Mil. New Horizon Aircraft's Interest Expense for the six months ended in May. 2023 was $-0.06 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 New Horizon Aircraft's Interest Coverage or its related term are showing as below:

HOVR's Interest Coverage is not ranked ^*
in the Aerospace & Defense industry.
Industry Median: 7.18
* 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.

New Horizon Aircraft Interest Coverage Historical Data

The historical data trend for New Horizon Aircraft'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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New Horizon Aircraft Interest Coverage Chart

New Horizon Aircraft Annual Data

Trend

May22

May23

Interest Coverage

New Horizon Aircraft Semi-Annual Data
	May22	May23
Interest Coverage	-	-

Competitive Comparison of New Horizon Aircraft's Interest Coverage

For the Aerospace & Defense subindustry, New Horizon Aircraft'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.

New Horizon Aircraft's Interest Coverage Distribution in the Aerospace & Defense Industry

For the Aerospace & Defense industry and Industrials sector, New Horizon Aircraft's Interest Coverage distribution charts can be found below:

* The bar in red indicates where New Horizon Aircraft's Interest Coverage falls into.

New Horizon Aircraft 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.

New Horizon Aircraft's Interest Coverage for the fiscal year that ended in May. 2023 is calculated as

Here, for the fiscal year that ended in May. 2023, New Horizon Aircraft's Interest Expense was $-0.06 Mil. Its Operating Income was $-0.80 Mil. And its Long-Term Debt & Capital Lease Obligation was $0.25 Mil.

New Horizon Aircraft did not have earnings to cover the interest expense.

New Horizon Aircraft's Interest Coverage for the quarter that ended in May. 2023 is calculated as

Here, for the six months ended in May. 2023, New Horizon Aircraft's Interest Expense was $-0.06 Mil. Its Operating Income was $-0.80 Mil. And its Long-Term Debt & Capital Lease Obligation was $0.25 Mil.

New Horizon Aircraft did not have earnings to cover the interest expense.

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

New Horizon Aircraft (NAS:HOVR) 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 .

New Horizon Aircraft Interest Coverage Related Terms

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New Horizon Aircraft (New Horizon Aircraft) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Aerospace & Defense » New Horizon Aircraft Ltd (NAS:HOVR) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

N/A

Address

3187 Highway 35, Lindsay, ON, CAN, K9V 4R1

Website

New Horizon Aircraft Ltd is an advanced aerospace Original Equipment Manufacturer that is designing and aiming to build a next-generation hybrid electric vertical take-off and landing aircraft for the regional air mobility market. Its unique aircraft will offer a more efficient way to move people and goods at a regional scale, help to connect remote communities and advance its ability to deal with an increasing number of climate-related natural disasters such as wildfires, Floods and droughts. The company aims to deliver a hybrid electric 7-seat aircraft, called the Cavorite X7, that can take off and land vertically like and helicopter.

New Horizon Aircraft (New Horizon Aircraft) Headlines

From GuruFocus

Horizon Aircraft Provides Corporate Update

By Marketwired • 04-16-2024