Saras SpA (MIL:SRS) Interest Coverage : 0 (At Loss) (As of Dec. 2023)

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What is Saras 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. Saras SpA's Operating Income for the three months ended in Dec. 2023 was €-10 Mil. Saras SpA's Interest Expense for the three months ended in Dec. 2023 was €-199 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 Saras SpA's Interest Coverage or its related term are showing as below:

MIL:SRS' s Interest Coverage Range Over the Past 10 Years
Min: 0.17 Med: 9.94 Max: 28.53
Current: 1.65

MIL:SRS's Interest Coverage is ranked worse than
86.09% of 762 companies
in the Oil & Gas industry
Industry Median: 6.74 vs MIL:SRS: 1.65

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Saras SpA Interest Coverage Historical Data

The historical data trend for Saras 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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Saras SpA Interest Coverage Chart

Saras SpA Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Coverage

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0.17

28.53

1.65

Saras SpA Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Interest Coverage	Get a 7-Day Free Trial															2.96	22.48	-	16.39	-

Competitive Comparison of Saras SpA's Interest Coverage

For the Oil & Gas Refining & Marketing subindustry, Saras 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.

Saras SpA's Interest Coverage Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Saras SpA's Interest Coverage distribution charts can be found below:

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

Saras 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.

Saras 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, Saras SpA's Interest Expense was €-232 Mil. Its Operating Income was €383 Mil. And its Long-Term Debt & Capital Lease Obligation was €0 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Dec. 2023 )	/	Interest Expense (A: Dec. 2023 )
	=	-1	*	383.251	/	-231.908
	=	1.65

Saras SpA's Interest Coverage for the quarter that ended in Dec. 2023 is calculated as

Here, for the three months ended in Dec. 2023, Saras SpA's Interest Expense was €-199 Mil. Its Operating Income was €-10 Mil. And its Long-Term Debt & Capital Lease Obligation was €0 Mil.

Saras SpA did not have earnings to cover the interest expense.

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

Saras SpA (MIL:SRS) 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 .

Saras SpA Interest Coverage Related Terms

Thank you for viewing the detailed overview of Saras SpA's Interest Coverage provided by GuruFocus.com. Please click on the following links to see related term pages.

Saras SpA (MIL:SRS) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Saras SpA (MIL:SRS) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

SAAFY:USA SRSm:UK 0O2D:UK

Address

S.S. 195 Sulcitana, Km 19, Cagliari, Sarroch, ITA, 09018

Website

https://www.saras.it

Saras SpA is a processor of crude oil and marketer and distributor of petroleum byproducts. Refining operations are conducted at facilities located near the Mediterranean Sea. Majority of the refineries production is medium and light distillates with low environmental impact (mainly diesel and gasoline). Under Saras Trading, the company purchases crude oils and other feedstock for the refinery, sells the refined oil, and participates in third party trading. Products sold and distributed by Saras and its subsidiaries include diesel, gasoline, heating oil, liquefied petroleum gas, naphtha, and aviation fuel. Products are sold primarily on Spanish and Italian markets. Additional services include wind farm operations, and engineering and scientific research services.