2.73(1.81%) Volume: 365,942 10:08PM EDT| Market Cap : 12.55 B | Enterprise Value : 13.58 B | P/E (TTM) : 47.13 | P/B : 4.04 |
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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 (EBIT) by its Interest Expense. Steris's Operating Income for the three months ended in Dec. 2018 was USD 96 Mil. Steris's Interest Expense for the three months ended in Dec. 2018 was USD -12 Mil. Steris's interest coverage for the quarter that ended in Dec. 2018 was 8.10. The higher the ratio, the stronger the company's financial strength is.
Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.
* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.
| Steris Quarterly Data | ||||||||||||||||||||
| Mar14 | Jun14 | Sep14 | Dec14 | Mar15 | Jun15 | Sep15 | Dec15 | Mar16 | Jun16 | Sep16 | Dec16 | Mar17 | Jun17 | Sep17 | Dec17 | Mar18 | Jun18 | Sep18 | Dec18 | |
| Interest Coverage |
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8.29 | 8.93 | 8.04 | 9.35 | 8.10 |
* The bar in red indicates where Steris's Interest Coverage falls into.
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. 2018 is calculated as
Here, for the fiscal year that ended in Mar. 2018, Steris's Interest Expense was USD -51 Mil. Its Operating Income was USD 404 Mil. And its Long-Term Debt & Capital Lease Obligation was USD 1,316 Mil.
| Interest Coverage | = | -1 | * | Operating Income (A: Mar. 2018 ) | / | Interest Expense (A: Mar. 2018 ) |
| = | -1 | * | 403.557 | / | -50.629 | |
| = | 7.97 |
Steris's Interest Coverage for the quarter that ended in Dec. 2018 is calculated as
Here, for the three months ended in Dec. 2018, Steris's Interest Expense was USD -12 Mil. Its Operating Income was USD 96 Mil. And its Long-Term Debt & Capital Lease Obligation was USD 1,246 Mil.
| Interest Coverage | = | -1 | * | Operating Income (Q: Dec. 2018 ) | / | Interest Expense (Q: Dec. 2018 ) |
| = | -1 | * | 95.731 | / | -11.824 | |
| = | 8.10 |
* 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.
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 .
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