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IDEX Interest Coverage

: 14.40 (As of Jun. 2021)
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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. IDEX's Operating Income for the three months ended in Jun. 2021 was $161 Mil. IDEX's Interest Expense for the three months ended in Jun. 2021 was $-11 Mil. IDEX's interest coverage for the quarter that ended in Jun. 2021 was 14.40. The higher the ratio, the stronger the company's financial strength is.

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

NYSE:IEX' s Interest Coverage Range Over the Past 10 Years
Min: 8.5   Med: 10.72   Max: 13.76
Current: 13.76

8.5
13.76

NYSE:IEX's Interest Coverage is ranked higher than
63% of the 190 Companies
in the Industrial Products industry.

( Industry Median: 8.18 vs. NYSE:IEX: 13.76 )

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


IDEX Interest Coverage Historical Data

The historical data trend for IDEX'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.

* Premium members only.

IDEX Annual Data
Trend Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
Interest Coverage
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 9.61 11.18 13.17 13.53 11.90

IDEX Quarterly Data
Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21
Interest Coverage Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 9.20 12.60 13.35 14.64 14.40

Competitive Comparison

For the Specialty Industrial Machinery subindustry, IDEX'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.

   

IDEX Interest Coverage Distribution

For the Industrial Products industry and Industrials sector, IDEX's Interest Coverage distribution charts can be found below:

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



IDEX 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.


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

IDEX's Interest Coverage for the fiscal year that ended in Dec. 2020 is calculated as

Here, for the fiscal year that ended in Dec. 2020, IDEX's Interest Expense was $-45 Mil. Its Operating Income was $532 Mil. And its Long-Term Debt & Capital Lease Obligation was $1,139 Mil.

Interest Coverage=-1* Operating Income (A: Dec. 2020 )/Interest Expense (A: Dec. 2020 )
=-1*532.489/-44.746
=11.90

IDEX's Interest Coverage for the quarter that ended in Jun. 2021 is calculated as

Here, for the three months ended in Jun. 2021, IDEX's Interest Expense was $-11 Mil. Its Operating Income was $161 Mil. And its Long-Term Debt & Capital Lease Obligation was $1,282 Mil.

Interest Coverage=-1* Operating Income (Q: Jun. 2021 )/Interest Expense (Q: Jun. 2021 )
=-1*161.392/-11.205
=14.40

* 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.


IDEX  (NYSE:IEX) 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 .


IDEX Interest Coverage Related Terms

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


IDEX Business Description

IDEX logo
Industry
Industrials » Industrial Products NAICS : 333249 SIC : 3561
Traded in Other Exchanges
Address
3100 Sanders Road, Suite 301, Northbrook, Chicago, IL, USA, 60062
Idex manufactures pumps, flow meters, valves, and fluidic systems for customers in a variety of end markets, including industrial, fire & safety, life science, and water. The firm's business is organized into three segments: fluid & metering technologies, health & science technologies, and fire & safety and diversified products. Based in Lake Forest, Illinois, Idex has manufacturing operations in over 20 countries and has over 7,000 employees. The company generated $2.4 billion in revenue and $537 million in adjusted operating income in 2020.
Executives
Yates Michael J officer: VP-Chief Accounting Officer 1925 WEST FIELD COURT SUITE 200 LAKE FOREST IL 60045
Silvernail Andrew K director, officer: Chairman and CEO 1925 WEST FIELD COURT SUITE 200 LAKE FOREST IL 60045
Bucklew Jeffrey D officer: SVP-Chief HR Officer 1925 WEST FIELD COURT SUITE 200 LAKE FOREST IL 60045
Ashleman Eric D officer: President and COO 1925 WEST FIELD COURT SUITE 200 LAKE FOREST IL 60045
Cade Denise R officer: SVP-General Counsel & Corp Sec 1011 WARRENVILLE ROAD SUITE 600 LISLE IL 60532
Salliotte Daniel J officer: SVP - MERGERS & ACQUISITIONS 1925 WEST FIELD COURT SUITE 200 LAKE FOREST IL 60045
Mrozek Ernest J director SERVICE MASTER 2300 WARRENVILLE ROAD DOWNERS GROVE IL 60515
Cook William M director 1925 WEST FIELD COURT SUITE 200 LAKE FOREST IL 60045
Satterthwaite Livingston director 1925 WEST FIELD COURT SUITE 200 LAKE FOREST IL 60045
Christenson Carl R director C/O ALTRA INDUSTRIAL MOTION INC. 300 GRANITE STREET BRAINTREE MA 02184
Helmkamp Katrina L director 1925 WEST FIELD COURT SUITE 200 LAKE FOREST IL 60045
Parry David C director 155 HARLEM AVE. GLENVIEW IL 60025
Beck Mark A director 2200 PENNSYLVANIA AVENUE, NW SUITE 800W WASHINGTON DC 20037
Warner Cynthia J director 1925 WEST FIELD COURT SUITE 200 LAKE FOREST IL 60045
Buthman Mark A director P O BOX 619100 DALLAS TX 752619100

IDEX Headlines

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