Green Oleo SpA (MIL:GRN) Interest Coverage : 2.34 (As of Jun. 2024)

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What is Green Oleo SpA 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. Green Oleo SpA's Operating Income for the six months ended in Jun. 2024 was €0.73 Mil. Green Oleo SpA's Interest Expense for the six months ended in Jun. 2024 was €-0.31 Mil. Green Oleo SpA's interest coverage for the quarter that ended in Jun. 2024 was 2.34. The higher the ratio, the stronger the company's financial strength is.

The historical rank and industry rank for Green Oleo SpA's Interest Coverage or its related term are showing as below:

MIL:GRN's Interest Coverage is not ranked ^*
in the Chemicals industry.
Industry Median: 10.08
* 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.

Green Oleo SpA Interest Coverage Historical Data

The historical data trend for Green Oleo SpA'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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Green Oleo SpA Interest Coverage Chart

Green Oleo SpA Annual Data

Trend

Dec21

Dec22

Dec23

Dec24

Interest Coverage

7.96

20.64

Green Oleo SpA Semi-Annual Data
	Dec21	Dec22	Jun23	Dec23	Jun24	Dec24
Interest Coverage	Get a 7-Day Free Trial			N/A	-	-	2.34	-

Competitive Comparison of Green Oleo SpA's Interest Coverage

For the Chemicals subindustry, Green Oleo SpA'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.

Green Oleo SpA's Interest Coverage Distribution in the Chemicals Industry

For the Chemicals industry and Basic Materials sector, Green Oleo SpA's Interest Coverage distribution charts can be found below:

* The bar in red indicates where Green Oleo SpA's Interest Coverage falls into.

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Green Oleo SpA 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.

Green Oleo SpA's Interest Coverage for the fiscal year that ended in Dec. 2023 is calculated as

Here, for the fiscal year that ended in Dec. 2023, Green Oleo SpA's Interest Expense was €-0.68 Mil. Its Operating Income was €-1.26 Mil. And its Long-Term Debt & Capital Lease Obligation was €8.08 Mil.

Green Oleo SpA did not have earnings to cover the interest expense.

Green Oleo SpA's Interest Coverage for the quarter that ended in Jun. 2024 is calculated as

Here, for the six months ended in Jun. 2024, Green Oleo SpA's Interest Expense was €-0.31 Mil. Its Operating Income was €0.73 Mil. And its Long-Term Debt & Capital Lease Obligation was €7.98 Mil.

Interest Coverage	=	-1	*	Operating Income (Q: Jun. 2024 )	/	Interest Expense (Q: Jun. 2024 )
	=	-1	*	0.732	/	-0.313
	=	2.34

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

Green Oleo SpA (MIL:GRN) 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 .

Green Oleo SpA Interest Coverage Related Terms

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Green Oleo SpA Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Chemicals » Green Oleo SpA (MIL:GRN) » Definitions » Interest Coverage

Traded in Other Exchanges

N/A

Address

Via Bergamo, 66, Cremona, ITA, 26100

Website

https://www.greenoleo.com

Green Oleo SpA is one of the leading European producers of fine oleochemicals from renewable sources. It offers a wide range of fatty acids and glycerine. The main families of oleochemical products treated by GREEN OLEO are acids distilled fats with different matrices depending on the starting fat, stearic acids (stearines), oleic acid, glycerine, fatty acid derivatives (e.g. soaps), and esters.