Seneca Foods (Seneca Foods) Interest Coverage

: 3.27 (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. Seneca Foods's Operating Income for the three months ended in Dec. 2023 was $31 Mil. Seneca Foods's Interest Expense for the three months ended in Dec. 2023 was $-9 Mil. Seneca Foods's interest coverage for the quarter that ended in Dec. 2023 was 3.27. The higher the ratio, the stronger the company's financial strength is.

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

SENEM' s Interest Coverage Range Over the Past 10 Years
Min: 1.13 Med: 3.77 Max: 29.39
Current: 2.32

SENEM's Interest Coverage is ranked worse than
79.81% of 1377 companies
in the Consumer Packaged Goods industry
Industry Median: 8.37 vs SENEM: 2.32

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

Seneca Foods Interest Coverage Historical Data

The historical data trend for Seneca Foods'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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Seneca Foods Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Interest Coverage

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6.54

29.39

11.23

1.68

Seneca Foods 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															7.40	-	5.42	5.35	3.27

Competitive Comparison

For the Packaged Foods subindustry, Seneca Foods'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.

Seneca Foods Interest Coverage Distribution

For the Consumer Packaged Goods industry and Consumer Defensive sector, Seneca Foods's Interest Coverage distribution charts can be found below:

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

Seneca Foods 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.

Seneca Foods's Interest Coverage for the fiscal year that ended in Mar. 2023 is calculated as

Here, for the fiscal year that ended in Mar. 2023, Seneca Foods's Interest Expense was $-15 Mil. Its Operating Income was $25 Mil. And its Long-Term Debt & Capital Lease Obligation was $467 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Mar. 2023 )	/	Interest Expense (A: Mar. 2023 )
	=	-1	*	24.909	/	-14.853
	=	1.68

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

Here, for the three months ended in Dec. 2023, Seneca Foods's Interest Expense was $-9 Mil. Its Operating Income was $31 Mil. And its Long-Term Debt & Capital Lease Obligation was $638 Mil.

Interest Coverage	=	-1	*	Operating Income (Q: Dec. 2023 )	/	Interest Expense (Q: Dec. 2023 )
	=	-1	*	30.72	/	-9.388
	=	3.27

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

Seneca Foods (OTCPK:SENEM) 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 .

Seneca Foods Interest Coverage Related Terms

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Seneca Foods (Seneca Foods) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » Seneca Foods Corp (OTCPK:SENEM) » Definitions » Interest Coverage

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Traded in Other Exchanges

SENEB:USA SENEA:USA

Address

350 WillowBrook Office Park, Fairport, NY, USA, 14480

Website

https://www.senecafoods.com

Seneca Foods Corp is a US-based company which acts as a provider of packaged fruits and vegetables. Its product offerings include canned, frozen and bottled produce and snack chips. The company's segment includes fruits and vegetables, prepared food products, and snack products. It generates maximum revenue from Canned vegetables followed by Frozen vegetables.