Cleantek Industries (TSXV:CTEK) Interest Expense : C$-1.34 Mil (TTM As of Sep. 2024)

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What is Cleantek Industries Interest Expense?

Interest Expense is the amount reported by a company or individual as an expense for borrowed money. Cleantek Industries's interest expense for the three months ended in Sep. 2024 was C$ -0.23 Mil. Its interest expense for the trailing twelve months (TTM) ended in Sep. 2024 was C$-1.34 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. Cleantek Industries's Operating Income for the three months ended in Sep. 2024 was C$ 0.45 Mil. Cleantek Industries's Interest Expense for the three months ended in Sep. 2024 was C$ -0.23 Mil. Cleantek Industries's Interest Coverage for the quarter that ended in Sep. 2024 was 1.94. 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.

Cleantek Industries Interest Expense Historical Data

The historical data trend for Cleantek Industries'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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Cleantek Industries Interest Expense Chart

Cleantek Industries Annual Data

Trend

Dec20

Dec21

Dec22

Dec23

Interest Expense

-3.18

-0.67

-1.23

-1.77

Cleantek Industries Quarterly Data
	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Interest Expense	Get a 7-Day Free Trial												-0.39	-0.60	-0.26	-0.25	-0.23

Cleantek Industries 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 Sep. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was C$-1.34 Mil.

Cleantek Industries (TSXV:CTEK) 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.

Cleantek Industries's Interest Expense for the three months ended in Sep. 2024 was C$-0.23 Mil. Its Operating Income for the three months ended in Sep. 2024 was C$0.45 Mil. And its Long-Term Debt & Capital Lease Obligation for the three months ended in Sep. 2024 was C$7.12 Mil.

Cleantek Industries's Interest Coverage for the quarter that ended in Sep. 2024 is calculated as

Interest Coverage	=	-1	*	Operating Income (Q: Sep. 2024 )	/	Interest Expense (Q: Sep. 2024 )
	=	-1	*	0.454	/	-0.234
	=	1.94

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

Warning Sign:

Ben Graham prefers companies' interest coverage to be at least 5. Cleantek Industries Incs earnings cannot cover its interest expense. If the situation continues, the company may have to issue more debt.

Cleantek Industries Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Cleantek Industries Inc (TSXV:CTEK) » Definitions » Interest Expense

Comparable Companies

Traded in Other Exchanges

N/A

Address

500 - 4th Avenue SW, Suite 3200, Calgary, AB, CAN, T2P 3C4

Website

https://www.cleantekinc.com

Cleantek Industries Inc is engaged in the manufacturing and rental of equipment to the oil and gas and construction industries in Western Canada and the United States. Its products include ZeroE, Halo, DZeroE, and SolarHybrid.Li, SolarHybrid, and Stadium Lighting among others. The company's revenue is generated from the rental and service of dehydration units, lighting towers, and lighting systems based on fixed or agreed-upon service contracts with the customer.

Executives

Riley Neil Taggart	Director, Senior Officer
Pillarfour Capital Partners Inc.	10% Security Holder
Orson Ross	Senior Officer
Matthew James Gowanlock	Director, Senior Officer