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Tanger Factory Outlet Centers Interest Coverage

: 2.38 (As of Jun. 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. Tanger Factory Outlet Centers's Operating Income for the three months ended in Jun. 2022 was $27.6 Mil. Tanger Factory Outlet Centers's Interest Expense for the three months ended in Jun. 2022 was $-11.6 Mil. Tanger Factory Outlet Centers's interest coverage for the quarter that ended in Jun. 2022 was 2.38. The higher the ratio, the stronger the company's financial strength is.

Warning Sign:

Ben Graham prefers companies' interest coverage to be at least 5. Tanger Factory Outlet Centers Inc interest coverage is 2.5, which is low.

The historical rank and industry rank for Tanger Factory Outlet Centers's Interest Coverage or its related term are showing as below:

SKT' s Interest Coverage Range Over the Past 10 Years
Min: 1.39   Med: 2.39   Max: 2.67
Current: 2.5


SKT's Interest Coverage is ranked worse than
67.32% of 661 companies
in the REITs industry
Industry Median: 3.68 vs SKT: 2.50

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


Tanger Factory Outlet Centers Interest Coverage Historical Data

The historical data trend for Tanger Factory Outlet Centers'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.

Tanger Factory Outlet Centers Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
Interest Coverage
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.49 2.44 2.33 1.39 2.08

Tanger Factory Outlet Centers Quarterly Data
Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22
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 1.99 2.52 2.48 2.61 2.38

Competitive Comparison

For the REIT - Retail subindustry, Tanger Factory Outlet Centers'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.

   

Tanger Factory Outlet Centers Interest Coverage Distribution

For the REITs industry and Real Estate sector, Tanger Factory Outlet Centers's Interest Coverage distribution charts can be found below:

* The bar in red indicates where Tanger Factory Outlet Centers's Interest Coverage falls into.



Tanger Factory Outlet Centers 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.

Tanger Factory Outlet Centers's Interest Coverage for the fiscal year that ended in Dec. 2021 is calculated as

Here, for the fiscal year that ended in Dec. 2021, Tanger Factory Outlet Centers's Interest Expense was $-52.9 Mil. Its Operating Income was $110.0 Mil. And its Long-Term Debt & Capital Lease Obligation was $1,486.0 Mil.

Interest Coverage=-1* Operating Income (A: Dec. 2021 )/Interest Expense (A: Dec. 2021 )
=-1*109.964/-52.866
=2.08

Tanger Factory Outlet Centers's Interest Coverage for the quarter that ended in Jun. 2022 is calculated as

Here, for the three months ended in Jun. 2022, Tanger Factory Outlet Centers's Interest Expense was $-11.6 Mil. Its Operating Income was $27.6 Mil. And its Long-Term Debt & Capital Lease Obligation was $1,484.3 Mil.

Interest Coverage=-1* Operating Income (Q: Jun. 2022 )/Interest Expense (Q: Jun. 2022 )
=-1*27.592/-11.576
=2.38

* 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.


Tanger Factory Outlet Centers  (NYSE:SKT) 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 .


Tanger Factory Outlet Centers Interest Coverage Related Terms

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


Tanger Factory Outlet Centers Business Description

Tanger Factory Outlet Centers logo
Traded in Other Exchanges
Address
3200 Northline Avenue, Suite 360, Greensboro, NC, USA, 27408
Tanger Factory Outlet Centers Inc is the owner and operator of outlet centers in the United States and Canada. It is a fully-integrated, self-administered and self-managed REIT, which focuses on developing, acquiring, owning, operating and managing outlet shopping centers. The company operates approximately 30 outlet centers, with a total gross leasable area of approximately 11.5 million square feet, which holds over 2,200 stores with hundreds of store brands. Substantially most of the firm's revenue is derived from rental income from real property. Geographically, the activities are carried out through the United States.
Executives
Stein Justin C officer: EVP, Leasing 3200 NORTHLINE AVE. SUITE 360 GREENSBORO NC 27408
Wingrove Andrew R officer: EVP, Chief Commercial Officer 3200 NORTHLINE AVE., SUITE 360 GREENSBORO NC 27408
Mathrani Sandeep director
Swanson Gallardo Leslie officer: Executive VP Operations 3200 NORTHLINE AVE. SUITE 360 GREENSBORO NC 27408
Yalof Stephen officer: President & COO 3200 NORTHLINE AVE., SUITE 360 GREENSBORO NC 27408
Ubinas Luis A director 209 REDWOOD SHORES PARKWAY REDWOOD CITY CA 94065-1175
Skerritt Susan E director 3200 NORTHLINE AVE SUITE 360 GREENSBORO NC 27408
Guerrieri Thomas Joseph Jr officer: VP, CAO and Controller 3200 NORTHLINE AVE. SUITE 360 GREENSBORO NC 27408
Henry David director 3333 NEW HYDE PARK ROAD NEW HYDE PARK NY 11042
Citrin Jeffrey B director 950 THIRD AVENUE 17TH FLOOR NEW YORK NY 10022
Worsham Charles Allen officer: SVP,Construction & Development 3200 NORTHLINE AVENUE, SUITE 360 GREENSBORO NC 27408
Perry Chad officer: EVP,General Counsel,Secretary C/O TANGER FACTORY OUTLET CENTERS, INC. 3200 NORTHLINE AVENUE, SUITE 360 GREENSBORO NC 27408
Mcdonough Thomas E. officer: EVP, Chief Operating Officer 1600 NE MIAMI GARDENS DRIVE NORTH MIAMI BEACH FL 33179
Jessup Manuel O officer: Senior VP - Human Resources 11215 METRO PARKWAY FORT MYERS FL 33966
Reddin Thomas director 11115 RUSHMORE DR CHARLOTTE NC 28277

Tanger Factory Outlet Centers Headlines

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