Crombie Real Estate Investment Trust (TSX:CRR.UN) Interest Coverage : 2.13 (As of Dec. 2023)

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What is Crombie Real Estate Investment Trust Interest Coverage?

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. Crombie Real Estate Investment Trust's Operating Income for the three months ended in Dec. 2023 was C$51.1 Mil. Crombie Real Estate Investment Trust's Interest Expense for the three months ended in Dec. 2023 was C$-24.0 Mil. Crombie Real Estate Investment Trust's interest coverage for the quarter that ended in Dec. 2023 was 2.13. 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. Crombie Real Estate Investment Trust interest coverage is 2.12, which is low.

The historical rank and industry rank for Crombie Real Estate Investment Trust's Interest Coverage or its related term are showing as below:

TSX:CRR.UN' s Interest Coverage Range Over the Past 10 Years
Min: 1.68 Med: 1.83 Max: 2.18
Current: 2.12

TSX:CRR.UN's Interest Coverage is ranked worse than
66.42% of 676 companies
in the REITs industry
Industry Median: 2.98 vs TSX:CRR.UN: 2.12

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

Crombie Real Estate Investment Trust Interest Coverage Historical Data

The historical data trend for Crombie Real Estate Investment Trust'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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Crombie Real Estate Investment Trust Interest Coverage Chart

Crombie Real Estate Investment Trust Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Coverage

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1.87

1.77

1.95

2.18

2.12

Crombie Real Estate Investment Trust 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															2.20	2.11	1.99	2.27	2.13

Competitive Comparison of Crombie Real Estate Investment Trust's Interest Coverage

For the REIT - Diversified subindustry, Crombie Real Estate Investment Trust'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.

Crombie Real Estate Investment Trust's Interest Coverage Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Crombie Real Estate Investment Trust's Interest Coverage distribution charts can be found below:

* The bar in red indicates where Crombie Real Estate Investment Trust's Interest Coverage falls into.

Crombie Real Estate Investment Trust 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.

Crombie Real Estate Investment Trust's Interest Coverage for the fiscal year that ended in Dec. 2023 is calculated as

Here, for the fiscal year that ended in Dec. 2023, Crombie Real Estate Investment Trust's Interest Expense was C$-86.8 Mil. Its Operating Income was C$184.4 Mil. And its Long-Term Debt & Capital Lease Obligation was C$1,965.7 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Dec. 2023 )	/	Interest Expense (A: Dec. 2023 )
	=	-1	*	184.363	/	-86.805
	=	2.12

Crombie Real Estate Investment Trust's Interest Coverage for the quarter that ended in Dec. 2023 is calculated as

Here, for the three months ended in Dec. 2023, Crombie Real Estate Investment Trust's Interest Expense was C$-24.0 Mil. Its Operating Income was C$51.1 Mil. And its Long-Term Debt & Capital Lease Obligation was C$1,965.7 Mil.

Interest Coverage	=	-1	*	Operating Income (Q: Dec. 2023 )	/	Interest Expense (Q: Dec. 2023 )
	=	-1	*	51.12	/	-23.971
	=	2.13

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

Crombie Real Estate Investment Trust (TSX:CRR.UN) 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 .

Crombie Real Estate Investment Trust Interest Coverage Related Terms

Thank you for viewing the detailed overview of Crombie Real Estate Investment Trust's Interest Coverage provided by GuruFocus.com. Please click on the following links to see related term pages.

Crombie Real Estate Investment Trust (TSX:CRR.UN) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Crombie Real Estate Investment Trust (TSX:CRR.UN) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

CROMF:USA

Address

610 East River Road, Suite 200, New Glasgow, NS, CAN, B2H 3S2

Website

https://www.crombiereit.ca

Crombie Real Estate Investment Trust is a Canada-based open-end REIT that focuses on the retail industry. The company invests, operates, and develops a portfolio of grocery-store- and drugstore-anchored shopping centres, freestanding stores, offices, and mixed-use developments. The properties are located primarily in Canada's urban and suburban markets. Crombie's major tenants include retailers such as Sobeys, Shoppers Drug Mart, Cineplex, and Province of Nova Scotia. The company's property portfolio includes Aberdeen Business Centre, Barrington Place, Brunswick Place, Kenmount Business Centre, Barrington Tower, CIBC Building, Amherst Centre, Avalon Mall, County Fair Mall, and others.

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