Eagle Bulk Shipping (Eagle Bulk Shipping) Interest Coverage : 1.75 (As of Dec. 2023)

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What is Eagle Bulk Shipping 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. Eagle Bulk Shipping's Operating Income for the three months ended in Dec. 2023 was $13.0 Mil. Eagle Bulk Shipping's Interest Expense for the three months ended in Dec. 2023 was $-7.5 Mil. Eagle Bulk Shipping's interest coverage for the quarter that ended in Dec. 2023 was 1.75. The higher the ratio, the stronger the company's financial strength is.

The historical rank and industry rank for Eagle Bulk Shipping's Interest Coverage or its related term are showing as below:

EGLE' s Interest Coverage Range Over the Past 10 Years
Min: 0.12 Med: 1.45 Max: 15.34
Current: 0.84

EGLE's Interest Coverage is ranked worse than
92.31% of 819 companies
in the Transportation industry
Industry Median: 5.6 vs EGLE: 0.84

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

Eagle Bulk Shipping Interest Coverage Historical Data

The historical data trend for Eagle Bulk Shipping'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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Eagle Bulk Shipping Interest Coverage Chart

Eagle Bulk Shipping Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Coverage

Get a 7-Day Free Trial

0.12

8.12

15.34

0.82

Eagle Bulk Shipping 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															7.30	0.63	2.02	-	1.75

Competitive Comparison of Eagle Bulk Shipping's Interest Coverage

For the Marine Shipping subindustry, Eagle Bulk Shipping'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.

Eagle Bulk Shipping's Interest Coverage Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, Eagle Bulk Shipping's Interest Coverage distribution charts can be found below:

* The bar in red indicates where Eagle Bulk Shipping's Interest Coverage falls into.

Eagle Bulk Shipping 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.

Eagle Bulk Shipping'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, Eagle Bulk Shipping's Interest Expense was $-22.7 Mil. Its Operating Income was $18.7 Mil. And its Long-Term Debt & Capital Lease Obligation was $332.7 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Dec. 2023 )	/	Interest Expense (A: Dec. 2023 )
	=	-1	*	18.665	/	-22.742
	=	0.82

Eagle Bulk Shipping's Interest Coverage for the quarter that ended in Dec. 2023 is calculated as

Here, for the three months ended in Dec. 2023, Eagle Bulk Shipping's Interest Expense was $-7.5 Mil. Its Operating Income was $13.0 Mil. And its Long-Term Debt & Capital Lease Obligation was $332.7 Mil.

Interest Coverage	=	-1	*	Operating Income (Q: Dec. 2023 )	/	Interest Expense (Q: Dec. 2023 )
	=	-1	*	13.049	/	-7.461
	=	1.75

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

Eagle Bulk Shipping (NYSE:EGLE) 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 .

Eagle Bulk Shipping Interest Coverage Related Terms

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

Eagle Bulk Shipping (Eagle Bulk Shipping) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Eagle Bulk Shipping Inc (NYSE:EGLE) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

E1BP:Germany E1B1:Germany

Address

300 First Stamford Place, 5th Floor, Stamford, CT, USA, 06902

Website

https://www.eagleships.com

Eagle Bulk Shipping Inc is a U.S.-based, fully integrated shipowner-operator, providing global transportation solutions to miners, producers, traders and end users. The company is engaged in the ocean transportation of drybulk cargoes worldwide through the ownership, charter and operation of drybulk vessels. The company focuses on the versatile midsize drybulk vessel segment. The Company's fleet is comprised of Supramax and Ultramax drybulk carriers.

Executives

Justin A. Knowles	director	9-10 ST. ANDREW SQUARE, EDINBURGH X0 EH2 2AF
Castor Maritime Inc.	10 percent owner	CHRISTODOULOU CHATZIPAVLOU 223, HAWAII ROYAL GARDENS, APART. 16, LIMASSOL G4 3036
Gary Vogel	director, officer: Chief Executive Officer	C/O EAGLE BULK SHIPPING INC., 477 MADISON AVENUE, NEW YORK NY 10022
Oaktree Fund Gp I, L.p.	10 percent owner	333 SOUTH GRAND AVENUE, 28TH FLOOR, LOS ANGELES CA 90071
Danaos Corp	10 percent owner	14 AKTI KONDYLI, 185 45 PIRAEUS, ATHENS J3 00000
Oaktree Capital I, L.p.	10 percent owner	333 SOUTH GRAND AVENUE, 28TH FLOOR, LOS ANGELES CA 90071
Ocm Holdings I, Llc	10 percent owner	333 SOUTH GRAND AVENUE, 28TH FLOOR, LOS ANGELES CA 90071
Oaktree Holdings, Llc	10 percent owner	333 SOUTH GRAND AVENUE, 28TH FLOOR, LOS ANGELES CA 90071
Oaktree Fund Gp, Llc	10 percent owner	333 SOUTH GRAND AVENUE, 28TH FLOOR, LOS ANGELES CA 90071
Bam Partners Trust	10 percent owner	181 BAY STREET, SUITE 300, TORONTO A6 M5J 2T3
Tsoutsoplides Constantine	officer: Chief Financial Officer	C/O EAGLE BULK SHIPPING INC., 300 FIRST STAMFORD PLACE, STAMFORD CT 06902
Alexandra Kate Blankenship	director	33 BENEDICT PLACE, 2ND FLOOR, GREENWICH CT 06830
De Costanzo Frank	officer: Chief Financial Officer	C/O EAGLE BULK SHIPPING INC., 300 FIRST STAMFORD PLACE, 5TH FLOOR, STAMFORD CT 06902
Randee E Day	director	217 DEBRA LANE, PALM BEACH FL 33480
Oaktree Capital Group Holdings Gp, Llc	10 percent owner	333 SOUTH GRAND AVENUE, 28TH FLOOR, LOS ANGELES CA 90071