Cedar Fair LP (Cedar Fair LP) Interest Coverage : 0.94 (As of Dec. 2023)

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What is Cedar Fair LP 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. Cedar Fair LP's Operating Income for the three months ended in Dec. 2023 was $34 Mil. Cedar Fair LP's Interest Expense for the three months ended in Dec. 2023 was $-36 Mil. Cedar Fair LP's interest coverage for the quarter that ended in Dec. 2023 was 0.94. 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. Cedar Fair LP interest coverage is 2.29, which is low.

The historical rank and industry rank for Cedar Fair LP's Interest Coverage or its related term are showing as below:

FUN' s Interest Coverage Range Over the Past 10 Years
Min: 0.86 Med: 3.13 Max: 3.93
Current: 2.29

FUN's Interest Coverage is ranked worse than
70.03% of 604 companies
in the Travel & Leisure industry
Industry Median: 5.15 vs FUN: 2.29

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

Cedar Fair LP Interest Coverage Historical Data

The historical data trend for Cedar Fair LP'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.

Cedar Fair LP Interest Coverage Chart

Cedar Fair LP Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Coverage

Get a 7-Day Free Trial

3.13

0.86

2.47

2.29

Cedar Fair LP 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															1.46	-	2.70	8.54	0.94

Competitive Comparison of Cedar Fair LP's Interest Coverage

For the Leisure subindustry, Cedar Fair LP'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.

Cedar Fair LP's Interest Coverage Distribution in the Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Cedar Fair LP's Interest Coverage distribution charts can be found below:

* The bar in red indicates where Cedar Fair LP's Interest Coverage falls into.

Cedar Fair LP 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.

Cedar Fair LP'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, Cedar Fair LP's Interest Expense was $-142 Mil. Its Operating Income was $324 Mil. And its Long-Term Debt & Capital Lease Obligation was $2,347 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Dec. 2023 )	/	Interest Expense (A: Dec. 2023 )
	=	-1	*	324.231	/	-141.77
	=	2.29

Cedar Fair LP's Interest Coverage for the quarter that ended in Dec. 2023 is calculated as

Here, for the three months ended in Dec. 2023, Cedar Fair LP's Interest Expense was $-36 Mil. Its Operating Income was $34 Mil. And its Long-Term Debt & Capital Lease Obligation was $2,347 Mil.

Interest Coverage	=	-1	*	Operating Income (Q: Dec. 2023 )	/	Interest Expense (Q: Dec. 2023 )
	=	-1	*	34.103	/	-36.15
	=	0.94

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

Cedar Fair LP (NYSE:FUN) 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 .

Cedar Fair LP Interest Coverage Related Terms

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

Cedar Fair LP (Cedar Fair LP) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » Cedar Fair LP (NYSE:FUN) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

N/A

Address

One Cedar Point Drive, Sandusky, OH, USA, 44870-5259

Website

https://ir.cedarfair.com

Cedar Fair LP operates amusement park-resorts located in various states across USA and Canada. All their parks have facilities for people from all age groups as well as exciting rides and attractions. The Partnership's portfolio of parks includes Cedar Point, Kings Island, Canada's Wonderland, Dorney Park and the Wildwater Kingdom, Valleyfair, Michigan's Adventure, Kings Dominion, Carowinds, Worlds of Fun, Knott's Berry Farm, and California's Great America. Other than these parks, the partnership also holds a contract to operate a few other parks. Revenues are obtained from amounts paid to gain admission to parks including parking fees, extra-charge attractions, and others.

Executives

Nina Barton	director	ONE CEDAR POINT DRIVE, SANDUSKY OH 44870
Monica Sauls	officer: Senior VP CHRO	ONE CEDAR POINT DRIVE, SANDUSKY OH 44870
Jennifer Mason	director	C/O CEDAR FAIR, 8701 RED OAK BLVD., CHARLOTTE NC 28217
Michelle M Frymire	director	C/O SPIRIT REALTY CAPITAL, INC., 2727 N. HARWOOD STREET, SUITE 300, DALLAS TX 75201
Daniel J Hanrahan	director	ROYAL CARIBBEAN CRUISES LTD, 1050 CARIBBEAN WAY, MIAMI FL 33132
Brian Nurse	officer: Exec VP, Chief Legal Officer	ONE CEDAR POINT DRIVE, SANDUSKY OH 44870
Matthew A Ouimet	officer: President	ONE CEDAR POINT DR., SANDUSKY OH 44870
Louis Carr	director	ONE CEDAR POINT DRIVE, SANDUSKY OH 44870
Carlos Ruisanchez	director	C/O PINNACLE ENTERTAINMENT INC, 3980 HOWARD HUGHES PARKWAY, LAS VEGAS NV 89169
Tim Fisher	officer: Chief Operating Officer	ONE CEDAR POINT DRIVE, SANDUSKY OH 44870
Craig Heckman	officer: SVP, Human Resources	ONE CEDAR POINT DRIVE, SANDUSKY OH 44870
Brian C Witherow	officer: V.P. & Corporate Controller	ONE CEDAR POINT DRIVE, SANDUSKY OH 44870
David R. Hoffman	officer: VP of Finance & Corp Tax	ONE CEDAR POINT DRIVE, SANDUSKY OH 44870
Milkie Duffield	officer: V.P. & General Counsel	ONE CEDAR POINT DR, SANDUSKY OH 44870
Richard Zimmerman	officer: VP & GM - Great America	ONE CEDAR POINT DRIVE, SANDUSKY OH 44870