National RefineryKAR:NRL -1.93%68 Interest Coverage is 4.25 as of Mar. 2026, which is 77% below its 10-year median of 18.32. GuruFocus rates KAR:NRL with a GF Score™ of 68/100 and a GF Value™ of ₨330.68 (Fairly Valued). The stock has 2 warning signs investors should review. Among 731 Oil & Gas companies, National Refinery ranks worse than 85.5% on this metric.
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. National Refinery's
Operating Income
for the
three
months ended in Mar. 2026 was ₨13,457 Mil. National Refinery's Interest Expense for the
three
months ended in Mar. 2026 was ₨-3,170 Mil.
National Refinery's interest coverage for the quarter that ended in Mar. 2026 was 4.25.
The higher the ratio, the stronger the company's financial strength is.
The historical rank and industry rank for National Refinery's Interest Coverage or its related term are showing as below:
KAR:NRL'
s Interest Coverage Range Over the Past 10 Years
Min: 1.24 Med: 18.32 Max: 22353.12
Current: 1.64
KAR:NRL's Interest Coverage is ranked worse than 85.5% of 731
companies
in the Oil & Gas industry
Industry Median: 5.89
vs KAR:NRL: 1.64
National Refinery (KAR:NRL) 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 .
National Refinery Interest Coverage Related Terms
National Refinery Interest Coverage Historical Data
* Premium members only.
The historical data trend for National Refinery'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.
KAR:NRL vs VLO, MPC, PSX: Interest Coverage Comparison
For the Oil & Gas Refining & Marketing subindustry, National Refinery'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.
National Refinery Interest Coverage vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, National Refinery's Interest Coverage distribution charts can be found below:
* The bar in red indicates where National Refinery'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:
* 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.
National Refinery (KAR:NRL) has a Interest Coverage of 4.25 as of Mar. 2026. Interest Coverage measures a company's capability to pay interest expenses on its debt. View historical data on National Refinery and its competitors. This is 77% below median its historical median of 18.32. Over the past decade, National Refinery's Interest Coverage has ranged from 1.24 to 22,353.12. According to the industry distribution chart, National Refinery ranks #625 out of 731 companies in the Oil & Gas industry, placing it in the top 85.5%.
Is National Refinery's Interest Coverage too high?
National Refinery's current Interest Coverage of 4.25 is 77% below median its 10-year median of 18.32. Over the past 10 years, this metric has ranged from a low of 1.24 to a high of 22,353.12. The Oil & Gas industry median Interest Coverage is 5.89. National Refinery's value of 4.25 is 27.8% below this industry median. Based on the distribution chart, National Refinery ranks #625 out of 731 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, National Refinery has a GF Score™ of 68/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does National Refinery's Interest Coverage compare to VLO and MPC?
According to the Oil & Gas industry distribution chart, National Refinery ranks #625 out of 731 companies for Interest Coverage. This places National Refinery in the lower half of its industry. The industry median Interest Coverage is 5.89. National Refinery's value of 4.25 is 27.8% below this benchmark. Historically, National Refinery's own Interest Coverage has ranged from 1.24 to 22,353.12 over the past decade. While the company's 10-year median is 18.32 vs. the industry median of 5.89, National Refinery has consistently been below the industry average. 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 an Oil & Gas company?
The median Interest Coverage among Oil & Gas companies is 5.89, based on 731 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. National Refinery's current Interest Coverage of 4.25 is 27.8% below the industry median. 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 National Refinery and its competitors. For the Oil & Gas industry, the median Interest Coverage is 5.89 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Refinery's current Interest Coverage is 4.25, which is 77% below median its own 10-year median of 18.32. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Refinery stock overvalued right now?
Based on GuruFocus' analysis, National Refinery (KAR:NRL) is currently considered Fairly Valued. The stock's GF Value™ is ₨330.68, compared to a current price of ₨358.13 — trading 8.3% above its estimated fair value. The current Interest Coverage is 4.25, which is 77% below median its 10-year median of 18.32 and 27.8% below the Oil & Gas industry median of 5.89. National Refinery's overall GF Score™ is 68/100 with 2 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 National Refinery (KAR:NRL), the current Interest Coverage is 4.25 as of Mar. 2026. 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 National Refinery (KAR:NRL) Overvalued in 2026?
Based on GuruFocus' analysis, National Refinery stock appears to be overvalued.
The current stock price of ₨358.13 is trading 8.3% above its estimated GF Value™ of ₨330.68.
GuruFocus considers National Refinery to be Fairly Valued.
Key valuation signals for KAR:NRL:
Interest Coverage: 4.25 (77% below median its 10-year median of 18.32)
GF Value™: ₨330.68 vs. price of ₨358.13 (8.3% above fair value)
Industry Position: 27.8% below the Oil & Gas median (#625 of 731)
No single metric tells the full story. See the KAR:NRL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
National Refinery Ltd is a Pakistan-based company engaged in manufacturing and supplying fuel products, lubes, BTX, asphalts and specialty products for domestic consumption and export. It is also involved in the crude oil refining business. The company operates through two segments namely Fuel and Lube. The Fuel segment, which is the key revenue driver, is engaged in the production of high-speed diesel, naphtha, motor gasoline, liquefied petroleum gas, jet fuels, and furnace oil. The Lube segment produces multiple grades of lube base oils, bitumen, waxes and rubber process oil and some quantities of other fuel products. It derives maximum revenue from Fuel Segment.
68GF Score
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