Empire State Realty Trust (Empire State Realty Trust) Interest Coverage : 1.61 (As of Dec. 2023)

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What is Empire State Realty Trust 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. Empire State Realty Trust's Operating Income for the three months ended in Dec. 2023 was $40.8 Mil. Empire State Realty Trust's Interest Expense for the three months ended in Dec. 2023 was $-25.4 Mil. Empire State Realty Trust's interest coverage for the quarter that ended in Dec. 2023 was 1.61. The higher the ratio, the stronger the company's financial strength is.

The historical rank and industry rank for Empire State Realty Trust's Interest Coverage or its related term are showing as below:

ESRT' s Interest Coverage Range Over the Past 10 Years
Min: 0.72 Med: 2.07 Max: 2.82
Current: 1.45

ESRT's Interest Coverage is ranked worse than
78.99% of 676 companies
in the REITs industry
Industry Median: 2.98 vs ESRT: 1.45

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

Empire State Realty Trust Interest Coverage Historical Data

The historical data trend for Empire State Realty Trust'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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Empire State Realty Trust Interest Coverage Chart

Empire State Realty Trust Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Coverage

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1.95

0.72

0.92

1.26

1.45

Empire State Realty Trust 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															1.52	0.69	1.82	1.66	1.61

Competitive Comparison of Empire State Realty Trust's Interest Coverage

For the REIT - Diversified subindustry, Empire State Realty Trust'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.

Empire State Realty Trust's Interest Coverage Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Empire State Realty Trust's Interest Coverage distribution charts can be found below:

* The bar in red indicates where Empire State Realty Trust's Interest Coverage falls into.

Empire State Realty Trust 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.

Empire State Realty Trust'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, Empire State Realty Trust's Interest Expense was $-101.5 Mil. Its Operating Income was $146.7 Mil. And its Long-Term Debt & Capital Lease Obligation was $2,269.0 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Dec. 2023 )	/	Interest Expense (A: Dec. 2023 )
	=	-1	*	146.706	/	-101.484
	=	1.45

Empire State Realty Trust's Interest Coverage for the quarter that ended in Dec. 2023 is calculated as

Here, for the three months ended in Dec. 2023, Empire State Realty Trust's Interest Expense was $-25.4 Mil. Its Operating Income was $40.8 Mil. And its Long-Term Debt & Capital Lease Obligation was $2,269.0 Mil.

Interest Coverage	=	-1	*	Operating Income (Q: Dec. 2023 )	/	Interest Expense (Q: Dec. 2023 )
	=	-1	*	40.772	/	-25.393
	=	1.61

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

Empire State Realty Trust (NYSE:ESRT) 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 .

Empire State Realty Trust Interest Coverage Related Terms

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

Empire State Realty Trust (Empire State Realty Trust) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Empire State Realty Trust Inc (NYSE:ESRT) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

ES9:Germany

Address

111 West 33rd Street, 12th Floor, New York, NY, USA, 10120

Website

https://www.empirestaterealtytrust.com

Empire State Realty Trust operates as a pure-play greater New York and Manhattan-focused REIT, featuring its landmark Empire State Building office and observation deck. The company owns and operates around 9.4 million square feet of office space, about 80% of which is located in Manhattan.

Executives

Hannah Y Yang	director	C/O EMPIRE STATE REALTY TRUST, INC., 111 WEST 33RD STREET, 12TH FLOOR, NEW YORK NY 10120
Tassell Christina Van	director	C/O 111 RIVER STREET, HOBOKEN NJ 07030
Stephen Horn	officer: Chief Accounting Officer	255 WEST 94TH STREET, NEW YORK NY 10025
Grant Hill	director	121 ORANGE AVE, SUITE 1500, ORLANDO FL 32801
Robert Paige Hood	director	C/O EMPIRE STATE REALTY TRUST, INC., 111 WEST 33RD STREET, 12TH FLOOR, NEW YORK NY 10120
Christina Chiu	officer: EVP and CFO	C/O EMPIRE STATE REALTY TRUST, INC., 111 WEST 33RD STREET, 12TH FLOOR, NEW YORK NY 10120
Patricia Han	director	600 OFFICE CENTER DRIVE, FORT WASHINGTON PA 19034
David A Karp	director, officer: EVP and CFO	C/O EMPIRE STATE REALTY TRUST, INC., 111 WEST 33RD STREET, NEW YORK NY 10120
Quark Holding Llc	10 percent owner	P.O. BOX 23224 OOREDOO TOWER, DIPLOMATIC AREA STREET, WEST BAY, DOHA S3 S3
Thomas J Derosa	director	C/O WELLTOWER INC., 4500 DORR STREET, TOLEDO OH 43615
Salvatore Michael Giliberto	director	C/O EMPIRE STATE REALTY TRUST, INC., 111 WEST 33RD STREET, 12TH FLOOR, NEW YORK NY 10120
Steven J Gilbert	director	540 MADISON AVE, 40TH FL, NEW YORK NY 10022
Robinson James D Iv	director	130 EAST 59TH STREET, NEW YORK NY 10022
William H Berkman	director	650 MADISON AVE, 25TH FL, NEW YORK NY 10022
Leslie D. Biddle	director	111 WEST 33RD STREET 12TH FLOOR, NEW YORK NY 10120