Minerals Technologies (Minerals Technologies) Interest Coverage

: 4.55 (As of Dec. 2023)

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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. Minerals Technologies's Operating Income for the three months ended in Dec. 2023 was $69 Mil. Minerals Technologies's Interest Expense for the three months ended in Dec. 2023 was $-15 Mil. Minerals Technologies's interest coverage for the quarter that ended in Dec. 2023 was 4.55. The higher the ratio, the stronger the company's financial strength is.

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

MTX' s Interest Coverage Range Over the Past 10 Years
Min: 4.22 Med: 5.47 Max: 6.42
Current: 4.73

MTX's Interest Coverage is ranked worse than
69.41% of 1190 companies
in the Chemicals industry
Industry Median: 9.785 vs MTX: 4.73

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

Minerals Technologies Interest Coverage Historical Data

The historical data trend for Minerals Technologies'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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Minerals Technologies Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Coverage

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5.39

5.47

6.42

5.67

4.73

Minerals Technologies 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															3.19	4.44	4.87	5.03	4.55

Competitive Comparison

For the Specialty Chemicals subindustry, Minerals Technologies'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.

Minerals Technologies Interest Coverage Distribution

For the Chemicals industry and Basic Materials sector, Minerals Technologies's Interest Coverage distribution charts can be found below:

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

Minerals Technologies 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.

Minerals Technologies'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, Minerals Technologies's Interest Expense was $-59 Mil. Its Operating Income was $280 Mil. And its Long-Term Debt & Capital Lease Obligation was $911 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Dec. 2023 )	/	Interest Expense (A: Dec. 2023 )
	=	-1	*	279.9	/	-59.2
	=	4.73

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

Here, for the three months ended in Dec. 2023, Minerals Technologies's Interest Expense was $-15 Mil. Its Operating Income was $69 Mil. And its Long-Term Debt & Capital Lease Obligation was $911 Mil.

Interest Coverage	=	-1	*	Operating Income (Q: Dec. 2023 )	/	Interest Expense (Q: Dec. 2023 )
	=	-1	*	69.2	/	-15.2
	=	4.55

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

Minerals Technologies (NYSE:MTX) 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 .

Minerals Technologies Interest Coverage Related Terms

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

Minerals Technologies (Minerals Technologies) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Chemicals » Minerals Technologies Inc (NYSE:MTX) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

MNK:Germany

Address

622 Third Avenue, 38th Floor, New York, NY, USA, 10017-6707

Website

https://www.mineralstech.com

Minerals Technologies Inc mines, produces, and sells mineral-based products. The firm organizes itself into three segments based on product type. The specialty minerals segment, sells calcium carbonate, limestone, and talc, which is used in the paper, building materials, paint, automotive, and pharmaceutical industries. The refractories segment sells products for steel furnaces. The performance materials segment sells bentonite used in steel alloy casting and household products including cat litter. The majority of revenue comes from the United States.

Executives

Dj Iii Monagle	officer: Vice President	C/O MINERALS TECHNOLOGIES INC., 622 THIRD AVENUE, NEW YORK NY 10017
Brett Argirakis	officer: Vice President	622 THIRD AVENUE, 38TH FLOOR, NEW YORK NY 10017
Michael Cipolla	officer: CONTROLLER	C/O MINERALS TECHNOLOGIES INC, 622 THIRD AVENUE, NEW YORK NY 10017
Douglas T Dietrich	officer: Vice President	622 THIRD AVENUE, NEW YORK X1 10017
Jonathan J Hastings	officer: Vice President	622 THIRD AVENUE, NEW YORK NY 10017
Rocky Motwani	director	MINERALS TECHNOLOGIES INC., 622 3RD AVENUE, 38TH FLOOR, NEW YORK NY 10017
Marc E Robinson	director	MINERALS TECHNOLOGIES INC., 622 THIRD AVENUE, NEW YORK NY 10017
Joseph C. Breunig	director	622 THIRD AVENUE, 38TH FLOOR, NEW YORK NY 10017
Alison Ann Deans	director	C/O NEUBERGER BERMAN, LLC, 605 THIRD AVENUE, NEW YORK NY 10158-3698
Franklin Feder	director	MINERALS TECHNOLOGIES INC., 622 THIRD AVENUE, NEW YORK NY 10017
John J Carmola	director	622 THIRD AVENUE, 38TH FLOOR, NEW YORK NY 10017
Robert L Clark	director	C/O MINERALS TECHNOLOGIES INC., 622 THIRD AVENUE, NEW YORK NY 10017
Carolyn K Pittman	director	622 THIRD AVENUE 38TH FL, MINERALS TECHNOLOGIES, NEW YORK NY 10017
Timothy Jordan	officer: Vice President	622 3RD AVENUE, 38TH FL, NEW YORK NY 10017
Thomas J Meek	officer: Vice President	C/O MINERALS TECHNOLOGIES INC., 622 THIRD AVENUE, NEW YORK NY 10017