StorageVault Canada (TSX:SVI) Interest Coverage : 0.62 (As of Dec. 2023)

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What is StorageVault Canada 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. StorageVault Canada's Operating Income for the three months ended in Dec. 2023 was C$15.4 Mil. StorageVault Canada's Interest Expense for the three months ended in Dec. 2023 was C$-25.0 Mil. StorageVault Canada's interest coverage for the quarter that ended in Dec. 2023 was 0.62. 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. StorageVault Canada Incs earnings cannot cover its interest expense. If the situation continues, the company may have to issue more debt.

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

TSX:SVI' s Interest Coverage Range Over the Past 10 Years
Min: 0.29 Med: 0.5 Max: 0.74
Current: 0.74

TSX:SVI's Interest Coverage is ranked worse than
89.71% of 1351 companies
in the Real Estate industry
Industry Median: 3.98 vs TSX:SVI: 0.74

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

StorageVault Canada Interest Coverage Historical Data

The historical data trend for StorageVault Canada'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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StorageVault Canada Interest Coverage Chart

StorageVault Canada Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Coverage

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0.29

0.50

0.74

StorageVault Canada 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															-	0.52	0.86	1.00	0.62

Competitive Comparison of StorageVault Canada's Interest Coverage

For the Real Estate Services subindustry, StorageVault Canada'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.

StorageVault Canada's Interest Coverage Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, StorageVault Canada's Interest Coverage distribution charts can be found below:

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

StorageVault Canada 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.

StorageVault Canada'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, StorageVault Canada's Interest Expense was C$-87.5 Mil. Its Operating Income was C$65.0 Mil. And its Long-Term Debt & Capital Lease Obligation was C$1,773.9 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Dec. 2023 )	/	Interest Expense (A: Dec. 2023 )
	=	-1	*	64.988	/	-87.493
	=	0.74

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

Here, for the three months ended in Dec. 2023, StorageVault Canada's Interest Expense was C$-25.0 Mil. Its Operating Income was C$15.4 Mil. And its Long-Term Debt & Capital Lease Obligation was C$1,773.9 Mil.

Interest Coverage	=	-1	*	Operating Income (Q: Dec. 2023 )	/	Interest Expense (Q: Dec. 2023 )
	=	-1	*	15.408	/	-25.005
	=	0.62

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

StorageVault Canada (TSX:SVI) 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 .

StorageVault Canada Interest Coverage Related Terms

Thank you for viewing the detailed overview of StorageVault Canada's Interest Coverage provided by GuruFocus.com. Please click on the following links to see related term pages.

StorageVault Canada (TSX:SVI) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » StorageVault Canada Inc (TSX:SVI) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

SVAUF:USA

Address

100 Canadian Road, Toronto, ON, CAN, M1R 4Z5

Website

http://www.storagevaultcanada.com

StorageVault Canada Inc is engaged in the business of owning, operating, and leasing storage to individual and commercial customers across Canada. The company operates through three segments. Its Self Storage segment consists of renting space at the company's property for short or long-term storage which also includes space for storing vehicles and use for small commercial operations. The Portable Storage segment involves delivering a portable storage unit to the customer. The Management Division involves revenues generated from the management of stores owned by third parties. It generates maximum revenue from the Self Storage segment.

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