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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. Shift Technologies's Operating Income for the three months ended in Jun. 2023 was $-21.5 Mil. Shift Technologies's Interest Expense for the three months ended in Jun. 2023 was $-2.7 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 Shift Technologies's Interest Coverage or its related term are showing as below:
Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.
The historical data trend for Shift Technologies'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.
Shift Technologies Annual Data | |||||||||
Trend | Dec19 | Dec20 | Dec21 | Dec22 | |||||
Interest Coverage | - | - | - | - |
Shift Technologies Quarterly Data | ||||||||||||||||
Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | |
Interest Coverage | Get a 7-Day Free Trial | - | - | - | - | - |
For the Auto & Truck Dealerships subindustry, Shift Technologies'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.
For the Vehicles & Parts industry and Consumer Cyclical sector, Shift Technologies's Interest Coverage distribution charts can be found below:
* The bar in red indicates where Shift Technologies'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:
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.
Shift Technologies's Interest Coverage for the fiscal year that ended in Dec. 2022 is calculated as
Here, for the fiscal year that ended in Dec. 2022, Shift Technologies's Interest Expense was $-11.0 Mil. Its Operating Income was $-199.1 Mil. And its Long-Term Debt & Capital Lease Obligation was $212.3 Mil.
Shift Technologies did not have earnings to cover the interest expense. |
Shift Technologies's Interest Coverage for the quarter that ended in Jun. 2023 is calculated as
Here, for the three months ended in Jun. 2023, Shift Technologies's Interest Expense was $-2.7 Mil. Its Operating Income was $-21.5 Mil. And its Long-Term Debt & Capital Lease Obligation was $182.0 Mil.
Shift Technologies did not have earnings to cover the 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.
The higher the ratio, the stronger the company's Financial Strength is.
Shift Technologies (OTCPK:SFTGQ) 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 .
Thank you for viewing the detailed overview of Shift Technologies's Interest Coverage provided by GuruFocus.com. Please click on the following links to see related term pages.
Kimberly H. Sheehy | director | C/O SWITCH, INC., 7135 SOUTH DECATUR BOULEVARD, LAS VEGAS NV 89118 |
Jason Travis Curtis | officer: Chief Accounting Officer | 2425 WEST LOOP SOUTH, 11TH FLOOR, HOUSTON TX 77027 |
Maruthi Jd Venkata | 10 percent owner | 610 E ZACK ST, STE 110, TAMPA FL 33602 |
Ayman Moussa | director, officer: Chief Executive Officer | C/O SHIFT TECHNOLOGIES, INC., 290 DIVISION ST. #400, SAN FRANCISCO CA 94103 |
James E Skinner | director | NEIMAN MARCUS GROUP, 1618 MAIN ST, DALLAS TX 75201 |
Aizpuru Luis Igancio Solorzano | director | 1345 AVENUE OF THE AMERICAS 11TH FL, NEW YORK NY 10105 |
Jeff Clementz | officer: President | CO SHIFT TECHNOLOGIES, 290 DIVISION ST STE 400, SAN FRANCISCO CA 94103-4893 |
Ryan Lawrence | officer: General Counsel | 1405 LAKE COOK ROAD, DEERFIELD IL 60015 |
Oded Shein | officer: CFO | 10201 MAIN STREET, HOUSTON TX 77025 |
George Arison | director, officer: Co-CEO & Chairman of the Board | 3727 LA DONNA AVENUE, PALO ALTO CA 94306 |
Sean Foy | officer: Chief Operating Officer | 1915 HAYES LANE, SAN MARTIN CA 95046 |
Victoria Mcinnis | director | C/O VECTOIQ ACQUISITION CORP., 1354 FLAGLER DRIVE, MAMARONECK NY 10543 |
Blima Tuller | officer: Chief Revenue Officer | C/O THE RUBICON PROJECT, INC., 12181 BLUFF CREEK DRIVE, 4TH FL, LOS ANGELES CA 90094 |
Lithia Motors Inc | 10 percent owner | 150 NORTH BARTLETT STREET, MEDFORD OR 97501 |
Manish Patel | director | 330 MISSION BAY BLVD N, #802, SAN FRANCISCO CA 94158 |
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