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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. DCP Midstream LP's Operating Income for the three months ended in Mar. 2023 was $131 Mil. DCP Midstream LP's Interest Expense for the three months ended in Mar. 2023 was $-68 Mil. DCP Midstream LP's interest coverage for the quarter that ended in Mar. 2023 was 1.93. The higher the ratio, the stronger the company's financial strength is.
The historical rank and industry rank for DCP Midstream LP's Interest Coverage or its related term are showing as below:
Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.
The historical data trend for DCP Midstream 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.
DCP Midstream LP Annual Data | |||||||||||||||||||||
Trend | Dec13 | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | |||||||||||
Interest Coverage | Get a 7-Day Free Trial | 1.37 | 0.62 | 1.02 | 0.67 | 2.63 |
DCP Midstream LP Quarterly Data | ||||||||||||||||||||
Jun18 | Sep18 | Dec18 | Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | |
Interest Coverage | Get a 7-Day Free Trial | 0.04 | 4.13 | 3.57 | 2.84 | 1.93 |
For the Oil & Gas Midstream subindustry, DCP Midstream 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.
For the Oil & Gas industry and Energy sector, DCP Midstream LP's Interest Coverage distribution charts can be found below:
* The bar in red indicates where DCP Midstream LP's Interest Coverage falls into.
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.
DCP Midstream LP's Interest Coverage for the fiscal year that ended in Dec. 2022 is calculated as
Here, for the fiscal year that ended in Dec. 2022, DCP Midstream LP's Interest Expense was $-278 Mil. Its Operating Income was $731 Mil. And its Long-Term Debt & Capital Lease Obligation was $4,452 Mil.
Interest Coverage | = | -1 | * | Operating Income (A: Dec. 2022 ) | / | Interest Expense (A: Dec. 2022 ) |
= | -1 | * | 731 | / | -278 | |
= | 2.63 |
DCP Midstream LP's Interest Coverage for the quarter that ended in Mar. 2023 is calculated as
Here, for the three months ended in Mar. 2023, DCP Midstream LP's Interest Expense was $-68 Mil. Its Operating Income was $131 Mil. And its Long-Term Debt & Capital Lease Obligation was $4,992 Mil.
Interest Coverage | = | -1 | * | Operating Income (Q: Mar. 2023 ) | / | Interest Expense (Q: Mar. 2023 ) |
= | -1 | * | 131 | / | -68 | |
= | 1.93 |
* 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.
The higher the ratio, the stronger the company's Financial Strength is.
DCP Midstream LP (NYSE:DCP) 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 .
Thank you for viewing the detailed overview of DCP Midstream LP's Interest Coverage provided by GuruFocus.com. Please click on the following links to see related term pages.
Scott Richard Delmoro | officer: Principal Financial Officer | 6900 E. LAYTON AVE, SUITE 900, DENVER CO 80237 |
Timothy D. Roberts | director | C/O PHILLIPS 66 PARTNERS LP, 3010 BRIARPARK DRIVE, HOUSTON TX 77042 |
Clifford Todd Denton | director | 2331 CITYWEST BLVD., HOUSTON TX 77042 |
Phillips 66 Co | 10 percent owner | 2331 CITYWEST BLVD., HOUSTON TX 77042 |
66 Phillips | 10 percent owner | 2331 CITYWEST BLVD., HOUSTON TX 77042 |
Phillips 66 Project Development Inc. | 10 percent owner | P.O. BOX 4428, HOUSTON TX 77210 |
Phillips 66 Project Shareholder Inc. | 10 percent owner | 2331 CITYWEST BLVD., HOUSTON TX 77042 |
Phillips Gas Co Llc | 10 percent owner | 2331 CITYWEST BLVD., HOUSTON TX 77042 |
Kevin J Mitchell | director | 3010 BRIARPARK DRIVE, HOUSTON TX 77042 |
William L. Johnson | officer: President | 370 17TH STREET, SUITE 2500, DENVER CO 80202 |
George R. Green | officer: Group VP & General Counsel | 370 17TH STREET, SUITE 2500, DENVER CO 80202 |
Heather Crowder | director | 370 17TH STREET, SUITE 2500, DENVER CO 80202 |
Stephen J Neyland | director | 5400 WESTHEIMER COURT, HOUSTON TX 77056 |
Sean O'brien | officer: Group Vice President and CFO | 370 17TH STREET, SUITE 2500, DENVER CO 80202 |
Richard A. Loving | officer: Vice President and Controller | 370 17TH STREET, SUITE 2500, DENVER CO 80202 |
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