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Steelcase Interest Coverage

: 0 (At Loss) (As of May. 2022)
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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. Steelcase's Operating Income for the three months ended in May. 2022 was $-9 Mil. Steelcase's Interest Expense for the three months ended in May. 2022 was $-6 Mil. did not have earnings to cover the interest expense. The higher the ratio, the stronger the company's financial strength is.

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

SCS' s Interest Coverage Range Over the Past 10 Years
Min: 0.78   Med: 8.62   Max: 11.46
Current: 1.66


SCS's Interest Coverage is ranked worse than
92.48% of 2153 companies
in the Industrial Products industry
Industry Median: 17.19 vs SCS: 1.66

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


Steelcase Interest Coverage Historical Data

The historical data trend for Steelcase'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.

Steelcase Annual Data
Trend Feb13 Feb14 Feb15 Feb16 Feb17 Feb18 Feb19 Feb20 Feb21 Feb22
Interest Coverage
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 8.87 4.90 9.41 2.90 0.78

Steelcase Quarterly Data
Aug17 Nov17 Feb18 May18 Aug18 Nov18 Feb19 May19 Aug19 Nov19 Feb20 May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22
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 - 5.30 2.45 0.33 -

Competitive Comparison

For the Business Equipment & Supplies subindustry, Steelcase'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.

   

Steelcase Interest Coverage Distribution

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

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



Steelcase 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.

Steelcase's Interest Coverage for the fiscal year that ended in Feb. 2022 is calculated as

Here, for the fiscal year that ended in Feb. 2022, Steelcase's Interest Expense was $-26 Mil. Its Operating Income was $20 Mil. And its Long-Term Debt & Capital Lease Obligation was $660 Mil.

Interest Coverage=-1* Operating Income (A: Feb. 2022 )/Interest Expense (A: Feb. 2022 )
=-1*20.1/-25.7
=0.78

Steelcase's Interest Coverage for the quarter that ended in May. 2022 is calculated as

Here, for the three months ended in May. 2022, Steelcase's Interest Expense was $-6 Mil. Its Operating Income was $-9 Mil. And its Long-Term Debt & Capital Lease Obligation was $617 Mil.

Steelcase did not have earnings to cover the interest expense.

* 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.


Steelcase  (NYSE:SCS) 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 .


Steelcase Interest Coverage Related Terms

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


Steelcase Business Description

Steelcase logo
Traded in Other Exchanges
Address
901 44th Street SE, Grand Rapids, MI, USA, 49508
Steelcase Inc is a furniture company primarily based in the United States and has operations in Europe, the Middle East, and Africa. Steelcase markets its products primarily through a network of independent and company-owned dealers. The company operates through the Americas segment, the EMEA segment and the Other category. The Americas segment offers architecture, furniture and technology products is marketed to corporate, government, healthcare, education and retail customers, EMEA segment provides furniture systems, storage and seating solutions.
Executives
Miller Steven Douglas officer: VP, Chief Technology Officer 901 44TH STREET SE GRAND RAPIDS MI 49508
Zondervan Robin L officer: Corporate Controller and CAO 901 44TH STREET SE GRAND RAPIDS MI 49508
Williams Linda K director 901 44TH STREET SE GRAND RAPIDS MI 49508
Flynn Donna K officer: VP, Global Talent Management 901 44TH STREET SE GRAND RAPIDS MI 49508
Schmelter Triona director 2021 SPRING ROAD SUITE 600 OAK BROOK IL 60523
Niemann Jennifer C director 901 44TH STREET SE GRAND RAPIDS MI 49508
Kelsey Todd P. director 55 JEWELERS PARK DRIVE NEENAH WI 54956
Brown Timothy C. E. director 901 44TH STREET SE GRAND RAPIDS MI 49508
Krestakos Robert G officer: VP, Global Operations 901 44TH STREET SE GRAND RAPIDS MI 49508
Lenhardt Terrence J officer: VP, Chief Information Officer 901 44TH STREET SE GRAND RAPIDS MI 49508
Moutrey Gale officer: VP, Communications 901 44TH STREET SE GRAND RAPIDS MI 49508
Khorramian Hamid officer: Senior VP, Global Operations 901 - 44TH STREET, SE GRAND RAPIDS MI 49508
Schmitt Eddy F officer: Senior VP, Americas 901 44TH STREET SE GRAND RAPIDS MI 49508
Alvarez Guillaume M officer: Senior VP, EMEA 901 44TH STREET SE GRAND RAPIDS MI 49508
Ludwig James N officer: VP, Global Design & Prod Eng 901 44TH STREET SE GRAND RAPIDS MI 49508

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