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Steris Interest Coverage

: 16.52 (As of Dec. 2020)
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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. Steris's Operating Income for the three months ended in Dec. 2020 was $147 Mil. Steris's Interest Expense for the three months ended in Dec. 2020 was $-9 Mil. Steris's interest coverage for the quarter that ended in Dec. 2020 was 16.52. The higher the ratio, the stronger the company's financial strength is.

NYSE:STE' s Interest Coverage Range Over the Past 10 Years
Min: 4.97   Med: 10.78   Max: 18.48
Current: 15.29
4.97
18.48

NYSE:STE's Interest Coverage is ranked lower than
60% of the 341 Companies
in the Medical Devices & Instruments industry.

( Industry Median: 24.04 vs. NYSE:STE: 15.29 )

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

Steris Interest Coverage Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

* Premium members only.

Steris Annual Data
Mar11 Mar12 Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20
Interest Coverage Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.97 6.40 7.90 9.83 13.35

Steris Quarterly Data
Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20
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 14.46 16.47 12.03 16.29 16.52
Competitive Comparison
* 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.

Steris Interest Coverage Distribution

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


Steris 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.

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

Here, for the fiscal year that ended in Mar. 2020, Steris's Interest Expense was $-40 Mil. Its Operating Income was $538 Mil. And its Long-Term Debt & Capital Lease Obligation was $1,265 Mil.

Interest Coverage=-1* Operating Income (A: Mar. 2020 )/Interest Expense (A: Mar. 2020 )
=-1*537.646/-40.279
=13.35

Steris's Interest Coverage for the quarter that ended in Dec. 2020 is calculated as

Here, for the three months ended in Dec. 2020, Steris's Interest Expense was $-9 Mil. Its Operating Income was $147 Mil. And its Long-Term Debt & Capital Lease Obligation was $1,843 Mil.

Interest Coverage=-1* Operating Income (Q: Dec. 2020 )/Interest Expense (Q: Dec. 2020 )
=-1*147.05/-8.899
=16.52

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

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

Steris  (NYSE:STE) 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 .

Steris Interest Coverage Related Terms

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