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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. Steel Connect's Operating Income for the three months ended in Jan. 2024 was $1.7 Mil. Steel Connect's Interest Expense for the three months ended in Jan. 2024 was $-0.2 Mil. Steel Connect's interest coverage for the quarter that ended in Jan. 2024 was 6.92. The higher the ratio, the stronger the company's financial strength is.
The historical rank and industry rank for Steel Connect's Interest Coverage or its related term are showing as below:
Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.
The historical data trend for Steel Connect'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.
Steel Connect Annual Data | |||||||||||||||||||||
Trend | Jul14 | Jul15 | Jul16 | Jul17 | Jul18 | Jul19 | Jul20 | Jul21 | Jul22 | Jul23 | |||||||||||
Interest Coverage | Get a 7-Day Free Trial | - | 0.96 | - | 0.37 | 2.95 |
Steel Connect Quarterly Data | ||||||||||||||||||||
Apr19 | Jul19 | Oct19 | Jan20 | Apr20 | Jul20 | Oct20 | Jan21 | Apr21 | Jul21 | Oct21 | Jan22 | Apr22 | Jul22 | Oct22 | Jan23 | Apr23 | Jul23 | Oct23 | Jan24 | |
Interest Coverage | Get a 7-Day Free Trial | 3.07 | 0.33 | 6.12 | 7.31 | 6.92 |
For the Advertising Agencies subindustry, Steel Connect'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.
For the Media - Diversified industry and Communication Services sector, Steel Connect's Interest Coverage distribution charts can be found below:
* The bar in red indicates where Steel Connect'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 (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.
Steel Connect's Interest Coverage for the fiscal year that ended in Jul. 2023 is calculated as
Here, for the fiscal year that ended in Jul. 2023, Steel Connect's Interest Expense was $-2.9 Mil. Its Operating Income was $8.4 Mil. And its Long-Term Debt & Capital Lease Obligation was $31.6 Mil.
Interest Coverage | = | -1 | * | Operating Income (A: Jul. 2023 ) | / | Interest Expense (A: Jul. 2023 ) |
= | -1 | * | 8.41 | / | -2.853 | |
= | 2.95 |
Steel Connect's Interest Coverage for the quarter that ended in Jan. 2024 is calculated as
Here, for the three months ended in Jan. 2024, Steel Connect's Interest Expense was $-0.2 Mil. Its Operating Income was $1.7 Mil. And its Long-Term Debt & Capital Lease Obligation was $16.1 Mil.
Interest Coverage | = | -1 | * | Operating Income (Q: Jan. 2024 ) | / | Interest Expense (Q: Jan. 2024 ) |
= | -1 | * | 1.722 | / | -0.249 | |
= | 6.92 |
* 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.
Steel Connect (NAS:STCN) 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 .
Thank you for viewing the detailed overview of Steel Connect's Interest Coverage provided by GuruFocus.com. Please click on the following links to see related term pages.
Steel Partners Holdings L.p. | other: See Explanation of Responses | 590 MADISON AVENUE, 32ND FLOOR, NEW YORK NY 10022 |
Joseph Richards Martin | director | C/O LOUISIANA-PACIFIC CORPORATION, 414 UNION STREET, SUITE 2000, NASHVILLE TN 37219 |
Ryan O'herrin | officer: Chief Financial Officer | 590 MADISON AVENUE, 32ND FLOOR, NEW YORK NY 10022-8547 |
Webfinancial Holding Corp | director, 10 percent owner | 590 MADISON AVENUE, 32ND FLOOR, NEW YORK NY 10022 |
Wf Asset Corp. | 10 percent owner | 590 MADISON AVENUE, 32ND FLOOR, NEW YORK NY 10022 |
Gary Tankard | officer: Chief Accounting Officer | C/O STEEL PARTNERS HOLDINGS LP, 590 MADISON AVENUE, 32ND FLOOR, NEW YORK NY 10022 |
Jason Wong | officer: Chief Financial Officer | 590 MADISON AVENUE, FLOOR 32, C/O STEEL PARTNERS HOLDINGS LP, NEW YORK NY 10022 |
Renata Simril | director | 5055 WILSHIRE BOULEVARD, SUITE 500, LOS ANGELES CA 90036 |
Fawaz Khalil | officer: CEO, ModusLink Corporation | C/O STEEL CONNECT, INC., 1601 TRAPELO ROAD, SUITE 170, WALTHAM MA 02451 |
John Ashe | officer: CEO,IWCO Direct Holdings, Inc. | C/O STEEL CONNECT, INC., 1601 TRAPELO ROAD, SUITE 170, WALTHAM MA 02451 |
Maria Molland | director | 1601 TRAPELO ROAD, SUITE 170, WALTHAM MA 02451 |
Joseph B Sherk | officer: Chief Accounting Officer | C/O UNITED RENTALS INC, FIVE GREENWICH OFFICE PARK, GREENWICH CT 06830 |
Douglas Woodworth | officer: Chief Financial Officer | STEEL PARTNERS HOLDINGS L.P., 590 MADISON AVENUE, 32ND FLOOR, NEW YORK NY 10022 |
Steel Excel Inc. | 10 percent owner | 590 MADISON AVENUE, 32ND FLOOR, NEW YORK NY 10022 |
Philip E. Lengyel | director | C/O MODUSLINK GLOBAL SOLUTIONS, INC., 1601 TRAPELO ROAD, SUITE 170, WALTHAM MA 02451 |
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