Mason Industrial Technology (Mason Industrial Technology) Interest Coverage : No Debt ⁽¹⁾ (As of Sep. 2022)

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What is Mason Industrial Technology 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. Mason Industrial Technology's Operating Income for the three months ended in Sep. 2022 was $-0.30 Mil. Mason Industrial Technology's Interest Expense for the three months ended in Sep. 2022 was $0.00 Mil. Mason Industrial Technology has no debt. The higher the ratio, the stronger the company's financial strength is.

(1) 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.

The historical rank and industry rank for Mason Industrial Technology's Interest Coverage or its related term are showing as below:

MIT.U' s Interest Coverage Range Over the Past 10 Years
Min: No Debt Med: No Debt Max: No Debt
Current: No Debt

MIT.U's Interest Coverage is not ranked
in the Diversified Financial Services industry.
Industry Median: No Debt vs MIT.U: No Debt

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

Mason Industrial Technology Interest Coverage Historical Data

The historical data trend for Mason Industrial Technology'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.

* Premium members only.

Mason Industrial Technology Interest Coverage Chart

Mason Industrial Technology Annual Data

Trend

Dec20

Dec21

Interest Coverage

No Debt

Mason Industrial Technology Quarterly Data
	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22
Interest Coverage	Get a 7-Day Free Trial				No Debt	No Debt	No Debt	No Debt	No Debt

Competitive Comparison of Mason Industrial Technology's Interest Coverage

For the Shell Companies subindustry, Mason Industrial Technology'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.

Mason Industrial Technology's Interest Coverage Distribution in the Diversified Financial Services Industry

For the Diversified Financial Services industry and Financial Services sector, Mason Industrial Technology's Interest Coverage distribution charts can be found below:

* The bar in red indicates where Mason Industrial Technology's Interest Coverage falls into.

Mason Industrial Technology 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.

Mason Industrial Technology's Interest Coverage for the fiscal year that ended in Dec. 2021 is calculated as

Here, for the fiscal year that ended in Dec. 2021, Mason Industrial Technology's Interest Expense was $-1.32 Mil. Its Operating Income was $-1.61 Mil. And its Long-Term Debt & Capital Lease Obligation was $0.00 Mil.

Mason Industrial Technology did not have earnings to cover the interest expense.

Mason Industrial Technology's Interest Coverage for the quarter that ended in Sep. 2022 is calculated as

Here, for the three months ended in Sep. 2022, Mason Industrial Technology's Interest Expense was $0.00 Mil. Its Operating Income was $-0.30 Mil. And its Long-Term Debt & Capital Lease Obligation was $0.00 Mil.

Mason Industrial Technology had no debt ⁽¹⁾.

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

Mason Industrial Technology (NYSE:MIT.U) 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 .

Mason Industrial Technology Interest Coverage Related Terms

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

Mason Industrial Technology (Mason Industrial Technology) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Diversified Financial Services » Mason Industrial Technology Inc (NYSE:MIT.U) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

N/A

Address

110 East 59th Street, New York, NY, USA, 10022

Website

https://www.masonitech.com

Mason Industrial Technology Inc is a blank check company.

Executives

William B Plummer	director	C/O UNITED RENTALS INC / DE, 100 FIRST STAMFORD PL STE 700, STAMFORD CT 06902
James L Bauman	director	3M COMPANY OFFICE OF GENERAL COUNSEL, 3M CENTER, ST PAUL MN 55144-1000
Mason Capital Management Llc	director, 10 percent owner	110 EAST 59TH STREET, 30TH FLOOR, NEW YORK NY 10022
Kenneth M. Garschina	10 percent owner	110 EAST 59TH STREET, NEW YORK NY 10022
Michael E Martino	director, 10 percent owner	110 EAST 59TH STREET, NEW YORK NY 10022
Rose Edward Arthur Iii	director, officer: Chief Executive Officer	5255 VIRGINIA AVE, NORTH CHARLESTON SC 29406
Sanford Marshall C Jr	director	1725 ATLANTIC AVE, SULLIVANS ISLAND SC 29482
Mason Industrial Sponsor, Llc	10 percent owner	110 E. 59TH STREET, NEW YORK NY 10022
Derek Satzinger	director, officer: Chief Financial Officer	110 E. 59TH STREET, NEW YORK NY 10022
Diane M. Parisi	director	110 E. 59TH STREET, NEW YORK NY 10022
Pamela Chepiga	director	110 E. 59TH STREET, NEW YORK NY 10022
Philip B. Whitehead	director	110 E. 59TH STREET, NEW YORK NY 10022
Mason Capital Master Fund, L.p.	10 percent owner	110 EAST 59TH STREET, NEW YORK NY 10022
Mason Management Llc	10 percent owner	110 EAST 59TH STREET, NEW YORK NY 10022

Mason Industrial Technology (Mason Industrial Technology) Headlines

From GuruFocus

Mason Industrial Technology, Inc. Will Redeem Its Public Shares and Will Not Consummate an Initial Business Combination

By Business Wire Business Wire • 01-31-2023

Mason Industrial Technology, Inc. Completes $500,000,000 Initial Public Offering

By Business Wire Business Wire • 02-02-2021

Mason Industrial Technology (Mason Industrial Technology) Interest Coverage : No Debt (1) (As of Sep. 2022)