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. Magnitogorsk Iron & Steel Works PJSC's
Operating Income
for the
six
months ended in Dec. 2023 was ₽80,560 Mil. Magnitogorsk Iron & Steel Works PJSC's Interest Expense for the
six
months ended in Dec. 2023 was ₽-2,486 Mil.
Magnitogorsk Iron & Steel Works PJSC's interest coverage for the quarter that ended in Dec. 2023 was 32.41.
The higher the ratio, the stronger the company's financial strength is.
MIC:MAGN's Interest Coverage is not ranked *
in the Steel industry.
Industry Median: 4.445 * Ranked among companies with meaningful Interest Coverage only.
Magnitogorsk Iron & Steel Works PJSC (MIC:MAGN) 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 .
Magnitogorsk Iron & Steel Works PJSC Interest Coverage Related Terms
Magnitogorsk Iron & Steel Works PJSC Interest Coverage Historical Data
* 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.
Magnitogorsk Iron & Steel Works PJSC Interest Coverage Chart
MIC:MAGN vs NUE, STLD, RS: Interest Coverage Comparison
For the Steel subindustry, Magnitogorsk Iron & Steel Works PJSC'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.
Magnitogorsk Iron & Steel Works PJSC Interest Coverage vs Steel Industry
For the Steel industry and Basic Materials sector, Magnitogorsk Iron & Steel Works PJSC's Interest Coverage distribution charts can be found below:
* The bar in red indicates where Magnitogorsk Iron & Steel Works PJSC's Interest Coverage falls into.
Magnitogorsk Iron & Steel Works PJSC 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:
* 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.
Magnitogorsk Iron & Steel Works PJSC (MIC:MAGN) has a Interest Coverage of 32.41 as of Dec. 2023. Interest Coverage measures a company's capability to pay interest expenses on its debt. View historical data on Magnitogorsk Iron & Steel Works PJSC and its competitors.
Is Magnitogorsk Iron & Steel Works PJSC's Interest Coverage too high?
Magnitogorsk Iron & Steel Works PJSC's current Interest Coverage is 32.41. The Steel industry median Interest Coverage is 4.45. Magnitogorsk Iron & Steel Works PJSC's value of 32.41 is 629.1% above this industry median. Overall, Magnitogorsk Iron & Steel Works PJSC has a GF Score™ of 17/100, reflecting its overall financial health beyond just this single metric.
How does Magnitogorsk Iron & Steel Works PJSC's Interest Coverage compare to NUE and STLD?
Magnitogorsk Iron & Steel Works PJSC's Interest Coverage of 32.41 can be compared against companies in the Steel industry. The industry median Interest Coverage is 4.45. Magnitogorsk Iron & Steel Works PJSC's value of 32.41 is 629.1% above this benchmark. 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 Steel company?
The median Interest Coverage among Steel companies is 4.45, based on 456 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. Magnitogorsk Iron & Steel Works PJSC's current Interest Coverage of 32.41 is 629.1% above 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 Magnitogorsk Iron & Steel Works PJSC and its competitors. For the Steel industry, the median Interest Coverage is 4.45 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Magnitogorsk Iron & Steel Works PJSC's current Interest Coverage is 32.41. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Magnitogorsk Iron & Steel Works PJSC stock overvalued right now?
Magnitogorsk Iron & Steel Works PJSC (MIC:MAGN) has a current Interest Coverage of 32.41. The current Interest Coverage is 32.41 and 629.1% above the Steel industry median of 4.45. Magnitogorsk Iron & Steel Works PJSC's overall GF Score™ is 17/100. 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 Magnitogorsk Iron & Steel Works PJSC (MIC:MAGN), the current Interest Coverage is 32.41 as of Dec. 2023. 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.
Magnitogorsk Iron & Steel Works PJSC Business Description
Magnitogorsk Iron & Steel Works PJSC is a steel producer in Russia. The company's output includes a broad range of steel products with a portion being high-value-added. In Russia, the company operates a large steel-producing complex encompassing the entire production chain from iron-ore processing to downstream production of rolled steel. The company sells the majority of its metal products in Russia. The company's financial results are divided into three segments: the Russian steel segment; the Turkish steel segment; and the coal segment. The steel segment accounts for the vast majority of the company's revenue.
17GF Score
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