Kinross Gold (Kinross Gold) Interest Coverage : 11.43 (As of Dec. 2023)

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What is Kinross Gold 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. Kinross Gold's Operating Income for the three months ended in Dec. 2023 was $183 Mil. Kinross Gold's Interest Expense for the three months ended in Dec. 2023 was $-16 Mil. Kinross Gold's interest coverage for the quarter that ended in Dec. 2023 was 11.43. The higher the ratio, the stronger the company's financial strength is.

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

KGC' s Interest Coverage Range Over the Past 10 Years
Min: 0.12 Med: 2.96 Max: 20.94
Current: 9.86

KGC's Interest Coverage is ranked worse than
79.85% of 1345 companies
in the Metals & Mining industry
Industry Median: No Debt vs KGC: 9.86

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

Kinross Gold Interest Coverage Historical Data

The historical data trend for Kinross Gold'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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Kinross Gold Interest Coverage Chart

Kinross Gold Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Coverage

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12.49

20.94

0.86

1.35

11.08

Kinross Gold 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															-	5.23	15.71	10.92	11.43

Competitive Comparison of Kinross Gold's Interest Coverage

For the Gold subindustry, Kinross Gold'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.

Kinross Gold's Interest Coverage Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Kinross Gold's Interest Coverage distribution charts can be found below:

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

Kinross Gold 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.

Kinross Gold'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, Kinross Gold's Interest Expense was $-69 Mil. Its Operating Income was $764 Mil. And its Long-Term Debt & Capital Lease Obligation was $2,250 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Dec. 2023 )	/	Interest Expense (A: Dec. 2023 )
	=	-1	*	764.4	/	-69
	=	11.08

Kinross Gold's Interest Coverage for the quarter that ended in Dec. 2023 is calculated as

Here, for the three months ended in Dec. 2023, Kinross Gold's Interest Expense was $-16 Mil. Its Operating Income was $183 Mil. And its Long-Term Debt & Capital Lease Obligation was $2,250 Mil.

Interest Coverage	=	-1	*	Operating Income (Q: Dec. 2023 )	/	Interest Expense (Q: Dec. 2023 )
	=	-1	*	182.9	/	-16
	=	11.43

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

Kinross Gold (NYSE:KGC) 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 .

Kinross Gold Interest Coverage Related Terms

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

Kinross Gold (Kinross Gold) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Kinross Gold Corp (NYSE:KGC) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

0R2D:UK KIN2:Germany KIN2:Germany KIN2:Germany K:Canada KGC:Argentina

Address

25 York Street, 17th Floor, Toronto, ON, CAN, M5J 2V5

Website

https://www.kinross.com

Kinross Gold is a Canada-based gold producer, producing roughly 2 million gold equivalent ounces in 2022. The company had about a decade of gold reserves at the end of 2022. It operates mines in the Americas and West Africa after selling its low-cost Russian operations in 2022 in response to the invasion of Ukraine. The company has historically used acquisitions to fuel expansion into new regions and production growth. In 2022, Kinross purchased the Great Bear project in Canada, which, if developed, could produce an average of more than 500,000 ounces of gold per year for at least a decade.