Elevate Credit (Elevate Credit) Interest Coverage : 0.65 (As of Sep. 2022)

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What is Elevate Credit 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. Elevate Credit's Operating Income for the three months ended in Sep. 2022 was $8.8 Mil. Elevate Credit's Interest Expense for the three months ended in Sep. 2022 was $-13.7 Mil. Elevate Credit's interest coverage for the quarter that ended in Sep. 2022 was 0.65. The higher the ratio, the stronger the company's financial strength is.

The historical rank and industry rank for Elevate Credit's Interest Coverage or its related term are showing as below:

ELVT's Interest Coverage is not ranked ^*
in the Credit Services industry.
Industry Median: 69.76
* Ranked among companies with meaningful Interest Coverage only.

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

Elevate Credit Interest Coverage Historical Data

The historical data trend for Elevate Credit'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.

Elevate Credit Interest Coverage Chart

Elevate Credit Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Interest Coverage

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0.97

1.20

1.62

2.45

0.50

Elevate Credit Quarterly Data
	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22
Interest Coverage	Get a 7-Day Free Trial															-	-	-	0.44	0.65

Competitive Comparison of Elevate Credit's Interest Coverage

For the Credit Services subindustry, Elevate Credit'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.

Elevate Credit's Interest Coverage Distribution in the Credit Services Industry

For the Credit Services industry and Financial Services sector, Elevate Credit's Interest Coverage distribution charts can be found below:

* The bar in red indicates where Elevate Credit's Interest Coverage falls into.

Elevate Credit 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.

Elevate Credit'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, Elevate Credit's Interest Expense was $-38.5 Mil. Its Operating Income was $19.3 Mil. And its Long-Term Debt & Capital Lease Obligation was $514.4 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Dec. 2021 )	/	Interest Expense (A: Dec. 2021 )
	=	-1	*	19.33	/	-38.479
	=	0.50

Elevate Credit's Interest Coverage for the quarter that ended in Sep. 2022 is calculated as

Here, for the three months ended in Sep. 2022, Elevate Credit's Interest Expense was $-13.7 Mil. Its Operating Income was $8.8 Mil. And its Long-Term Debt & Capital Lease Obligation was $576.8 Mil.

Interest Coverage	=	-1	*	Operating Income (Q: Sep. 2022 )	/	Interest Expense (Q: Sep. 2022 )
	=	-1	*	8.84	/	-13.655
	=	0.65

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

Elevate Credit (NYSE:ELVT) 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 .

Elevate Credit Interest Coverage Related Terms

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

Elevate Credit (Elevate Credit) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Credit Services » Elevate Credit Inc (NYSE:ELVT) » Definitions » Interest Coverage

Comparable Companies

NICK JT BWMY AHG NISN YRD FIGI LMFA PT XYF V MA AXP PYPL COF BOM:500034 DFS TSE:8591 SYF ALLY

Traded in Other Exchanges

N/A

Address

4150 International Plaza, Suite 300, Fort Worth, TX, USA, 76109

Website

https://www.elevate.com

Elevate Credit Inc provides online credit solutions. The company provides credit to non-prime consumers, many of whom face reduced credit options and increased financial pressure due to macroeconomic changes over the past few decades. It has one reportable segment, which provides online financial services for subprime credit consumers, which is composed of the company's operations in the United States.

Executives

Bradley R. Strock	director	C/O ELEVATE CREDIT, INC., 4150 INTERNATIONAL PLAZA, SUITE 300, FORT WORTH TX 76109
Christopher Lutes	officer: Chief Financial Officer	C/O ELEVATE CREDIT INC., 4150 INTERNATIONAL PLAZA, SUITE 300, FORTH WORTH TX 76109
Steven Austin Trussell	officer: Chief Financial Officer	4150 INTERNATIONAL PKWY, STE 300, FT. WORTH TX 76109
David Curry Peterson	officer: Chief Credit Officer	C/O ELEVATE CREDIT, 4150 INTERNATIONAL PLAZA, STE 300, FORT WORTH TX 76109
Scott Greever	director, officer: Managing Director, UK	C/O ELEVATE CREDIT INC., 4150 INTERNATIONAL PLAZA, SUITE 300, FORTH WORTH TX 76109
Jason Harvison	director, officer: Chief Operating Officer	C/O ELEVATE CREDIT INC., 4150 INTERNATIONAL PLAZA, SUITE 300, FORTH WORTH TX 76109
Jesse K Bray	director	8950 CYPRESS WATERS BOULEVARD, COPPELL TX 75019
Rodriquez Manuel Sanchez	director	C/O FANNIE MAE, 1100 15TH STREET, NW, WASHINGTON DC 20005
Michael T. Pugh	director	CARVER BANCORP, INC., 75 WEST 125TH STREET, NEW YORK NY 10027
Head Tyler W. K.	director	C/O ELEVATE CREDIT INC., 4150 INTERNATIONAL PLAZA, SUITE 300, FORTH WORTH TX 76109
Linda Stinson	10 percent owner	C/O ELEVATE CREDIT INC., 4150 INTERNATIONAL PLAZA, SUITE 300, FORTH WORTH TX 76109
Tcv Management 2004 Llc	10 percent owner, other: May be part of a 13(g) group	528 RAMONA STREET, PALO ALTO CA 94301
Tcv Member Fund, L.p.	10 percent owner, other: May be part of a 13(g) group	528 RAMONA STREET, PALO ALTO CA 94301
Technology Crossover Management V Llc	10 percent owner, other: May be part of a 13(g) group	C/O TECHNOLOGY CROSSOVER VENTURES, 250 MIDDLEFIELD ROAD, MENLO PARK CA 94025
Tcv V Lp	10 percent owner, other: May be part of a 13(g) group	528 RAMONA STREET, PALO ALTO CA 94301