Akita Drilling (FRA:774) Interest Expense : €-4.2 Mil (TTM As of Mar. 2024)

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What is Akita Drilling Interest Expense?

Interest Expense is the amount reported by a company or individual as an expense for borrowed money. Akita Drilling's interest expense for the three months ended in Mar. 2024 was € -1.0 Mil. Its interest expense for the trailing twelve months (TTM) ended in Mar. 2024 was €-4.2 Mil.

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. Akita Drilling's Operating Income for the three months ended in Mar. 2024 was € 0.2 Mil. Akita Drilling's Interest Expense for the three months ended in Mar. 2024 was € -1.0 Mil. Akita Drilling's Interest Coverage for the quarter that ended in Mar. 2024 was 0.22. The higher the ratio, the stronger the company's financial strength is. Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Akita Drilling Interest Expense Historical Data

The historical data trend for Akita Drilling's Interest Expense 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.

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Akita Drilling Interest Expense Chart

Akita Drilling Annual Data

Trend

Dec14

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Dec19

Dec20

Dec21

Dec22

Dec23

Interest Expense

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-4.63

-3.62

-2.46

-4.55

-4.74

Akita Drilling Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Interest Expense	Get a 7-Day Free Trial															-1.57	-1.16	-1.06	-0.98	-0.95

Akita Drilling Interest Expense Calculation

Interest Expense is the amount reported by a company or individual as an expense for borrowed money.

Interest Expense for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was €-4.2 Mil.

Akita Drilling (FRA:774) Interest Expense Explanation

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

Akita Drilling's Interest Expense for the three months ended in Mar. 2024 was €-1.0 Mil. Its Operating Income for the three months ended in Mar. 2024 was €0.2 Mil. And its Long-Term Debt & Capital Lease Obligation for the three months ended in Mar. 2024 was €47.5 Mil.

Akita Drilling's Interest Coverage for the quarter that ended in Mar. 2024 is calculated as

Interest Coverage	=	-1	*	Operating Income (Q: Mar. 2024 )	/	Interest Expense (Q: Mar. 2024 )
	=	-1	*	0.206	/	-0.953
	=	0.22

The higher the ratio, the stronger the company's financial strength is.

Akita Drilling (FRA:774) Business Description

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GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Akita Drilling Ltd (FRA:774) » Definitions » Interest Expense

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AKTAF:USA AKT.B:Canada AKT.A:Canada

Address

333-7th Avenue SW, Suite 1000, Calgary, AB, CAN, T2P 2Z1

Website

https://www.akita-drilling.com

Akita Drilling Ltd is a Canadian oil and gas drilling contractor. The company is engaged in providing contract drilling services, primarily to the oil and gas industry, in Canada and the United States. The company owns and operates over 35 drilling rigs. It is also involved in the drilling related to potash mining and the development of storage caverns.

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