Spirit Blockchain Capital (XCNQ:SPIR) Interest Coverage : 0 (At Loss) (As of Sep. 2024)

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What is Spirit Blockchain Capital 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. Spirit Blockchain Capital's Operating Income for the three months ended in Sep. 2024 was C$-0.78 Mil. Spirit Blockchain Capital's Interest Expense for the three months ended in Sep. 2024 was C$-0.07 Mil. did not have earnings to cover the interest expense. The higher the ratio, the stronger the company's financial strength is.

The historical rank and industry rank for Spirit Blockchain Capital's Interest Coverage or its related term are showing as below:

XCNQ:SPIR's Interest Coverage is not ranked ^*
in the Capital Markets industry.
Industry Median: 23.4
* Ranked among companies with meaningful Interest Coverage only.

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

Spirit Blockchain Capital Interest Coverage Historical Data

The historical data trend for Spirit Blockchain Capital'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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Spirit Blockchain Capital Interest Coverage Chart

Spirit Blockchain Capital Annual Data

Trend

Dec21

Dec22

Dec23

Interest Coverage

No Debt

Spirit Blockchain Capital Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Interest Coverage	Get a 7-Day Free Trial									-	-	-	-	-

Competitive Comparison of Spirit Blockchain Capital's Interest Coverage

For the Capital Markets subindustry, Spirit Blockchain Capital'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.

Spirit Blockchain Capital's Interest Coverage Distribution in the Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Spirit Blockchain Capital's Interest Coverage distribution charts can be found below:

* The bar in red indicates where Spirit Blockchain Capital's Interest Coverage falls into.

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Spirit Blockchain Capital 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.

Spirit Blockchain Capital'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, Spirit Blockchain Capital's Interest Expense was C$-0.02 Mil. Its Operating Income was C$-1.56 Mil. And its Long-Term Debt & Capital Lease Obligation was C$0.25 Mil.

Spirit Blockchain Capital did not have earnings to cover the interest expense.

Spirit Blockchain Capital's Interest Coverage for the quarter that ended in Sep. 2024 is calculated as

Here, for the three months ended in Sep. 2024, Spirit Blockchain Capital's Interest Expense was C$-0.07 Mil. Its Operating Income was C$-0.78 Mil. And its Long-Term Debt & Capital Lease Obligation was C$0.62 Mil.

Spirit Blockchain Capital did not have earnings to cover the interest expense.

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

Spirit Blockchain Capital (XCNQ:SPIR) 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 .

Spirit Blockchain Capital Interest Coverage Related Terms

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