Washington Prime Group (Washington Prime Group) Interest Coverage : 0.25 (As of Jun. 2021)

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What is Washington Prime Group 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. Washington Prime Group's Operating Income for the three months ended in Jun. 2021 was $12.98 Mil. Washington Prime Group's Interest Expense for the three months ended in Jun. 2021 was $-52.50 Mil. Washington Prime Group's interest coverage for the quarter that ended in Jun. 2021 was 0.25. The higher the ratio, the stronger the company's financial strength is.

Warning Sign:

Ben Graham prefers companies interest coverage is at least 5. Washington Prime Group 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 Washington Prime Group's Interest Coverage or its related term are showing as below:

WPGIQ.PFD' s Interest Coverage Range Over the Past 10 Years
Min: 0.12 Med: 1.67 Max: 4.12
Current: 0.12

WPGIQ.PFD's Interest Coverage is not ranked
in the REITs industry.
Industry Median: 2.985 vs WPGIQ.PFD: 0.12

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

Washington Prime Group Interest Coverage Historical Data

The historical data trend for Washington Prime Group'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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Washington Prime Group Interest Coverage Chart

Washington Prime Group Annual Data

Trend

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Interest Coverage

Get a 7-Day Free Trial

1.74

1.67

1.24

0.60

0.15

Washington Prime Group Quarterly Data
	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21
Interest Coverage	Get a 7-Day Free Trial															-	-	0.51	-	0.25

Competitive Comparison of Washington Prime Group's Interest Coverage

For the REIT - Retail subindustry, Washington Prime Group'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.

Washington Prime Group's Interest Coverage Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Washington Prime Group's Interest Coverage distribution charts can be found below:

* The bar in red indicates where Washington Prime Group's Interest Coverage falls into.

Washington Prime Group 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.

Washington Prime Group's Interest Coverage for the fiscal year that ended in Dec. 2020 is calculated as

Here, for the fiscal year that ended in Dec. 2020, Washington Prime Group's Interest Expense was $-156.75 Mil. Its Operating Income was $22.97 Mil. And its Long-Term Debt & Capital Lease Obligation was $2,581.50 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Dec. 2020 )	/	Interest Expense (A: Dec. 2020 )
	=	-1	*	22.966	/	-156.752
	=	0.15

Washington Prime Group's Interest Coverage for the quarter that ended in Jun. 2021 is calculated as

Here, for the three months ended in Jun. 2021, Washington Prime Group's Interest Expense was $-52.50 Mil. Its Operating Income was $12.98 Mil. And its Long-Term Debt & Capital Lease Obligation was $1,170.71 Mil.

Interest Coverage	=	-1	*	Operating Income (Q: Jun. 2021 )	/	Interest Expense (Q: Jun. 2021 )
	=	-1	*	12.981	/	-52.503
	=	0.25

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

Washington Prime Group (OTCPK:WPGIQ.PFD) 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 .

Washington Prime Group Interest Coverage Related Terms

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

Washington Prime Group (Washington Prime Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Washington Prime Group Inc (OTCPK:WPGIQ.PFD) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

N/A

Address

180 East Broad Street, Columbus, OH, USA, 43215

Website

http://www.washingtonprime.com

Washington Prime Group Inc is a self-managed real estate investment trust that invests in, manages, and develops retail properties. The company's portfolio consists of community shopping centres and malls across the United States, with most properties located in Texas, Ohio, Indiana, Illinois, and Florida. It generates the majority of revenue from leasing properties to tenants, which include department stores, restaurants, homeware and furniture stores, entertainment venues, general retailers, and cosmetic stores.

Executives

Stephan Gerber	officer: Senior VP, Property Mgmt.	C/O WASHINGTON PRIME GROUP INC., 180 EAST BROAD STREET, COLUMBUS OH 43215
Joshua Lindimore	officer: Senior VP, Head of Leasing	C/O WASHINGTON PRIME GROUP, 180 EAST BROAD STREET, COLUMBUS OH 43215
Armand Mastropietro	officer: Exec VP, Property Management	C/O GLIMCHER REALTY TRUST, 180 EAST BROAD STREET, COLUMBUS OH 43215
Paul S Ajdaharian	officer: Exec VP, Head of Open Air Ctrs	C/O WASHINGTON PRIME GROUP INC., 180 EAST BROAD STREET, COLUMBUS OH 43215
Gregory E Zimmerman	officer: Exec VP, Development	909 WALNUT, SUITE 200, KANSAS CITY MO 64106
J. Taggart Birge	director	C/O WASHINGTON PRIME GROUP INC., 180 EAST BROAD STREET, COLUMBUS OH 43215
Von Blucher Sheryl G.	director	C/O WASHINGTON PRIME GROUP INC., 180 EAST BROAD STREET, COLUMBUS OH 43215
John F Levy	director	C/O WASHINGTON PRIME GROUP INC., 180 EAST BROAD STREET, COLUMBUS OH 43215
John J Dillon	director	C/O WASHINGTON PRIME GROUP INC., 180 EAST BROAD STREET, COLUMBUS OH 43215
Gregory A Gorospe	officer: EVP, General Counsel,Secretary	180 EAST BROAD STREET, COLUMBUS OH 43215
Farinaz S Tehrani	officer: EVP, Legal & Compliance	180 EAST BROAD STREET, COLUMBUS OH 43215
Michael P Glimcher	director, officer: Vice Chairman and CEO	C/O GLIMCHER REALTY TRUST, 180 EAST BROAD STREET, COLUMBUS OH 43215
Mark Edward Yale	officer: EVP, CFO	C/O WASHINGTON PRIME GROUP INC., 180 EAST BROAD STREET, COLUMBUS OH 43215
Melissa A. Indest	officer: CAO and SVP,Finance	C/O WASHINGTON PRIME GROUP INC., 180 EAST BROAD STREET, COLUMBUS OH 43215
Niles C Overly	director	180 EAST BROAD STREET, COLUMBUS OH 43215