What is New Fortress Energy Financial Strength?
New Fortress Energy has the Financial Strength Rank of 3. It displays poor financial strength and is likely in financial distress. Usually this is caused by too much debt for the company.
Warning Sign:
New Fortress Energy Inc displays poor financial strength. Usually, this is caused by too much debt for the company.
GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors:
1. The debt burden that the company has as measured by its
Interest Coverage (current year). The higher, the better.
2. Debt to revenue ratio. The lower, the better.
3.
Altman Z-Score.
New Fortress Energy's Interest Coverage for the quarter that ended in Dec. 2023 was 4.56.
New Fortress Energy's debt to revenue ratio for the quarter that ended in Dec. 2023 was 2.43.
As of today, New Fortress Energy's Altman Z-Score is 0.90.
Competitive Comparison of New Fortress Energy's Financial Strength
For the Utilities - Regulated Gas subindustry, New Fortress Energy's Financial Strength, along with its competitors' market caps and Financial Strength 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.
New Fortress Energy's Financial Strength Distribution in the Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, New Fortress Energy's Financial Strength distribution charts can be found below:
* The bar in red indicates where New Fortress Energy's Financial Strength falls into.
New Fortress Energy Financial Strength Calculation
GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors
A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.
1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.
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:
New Fortress Energy's Interest Expense for the
months ended in Dec. 2023 was $-70 Mil. Its Operating Income for the
months ended in Dec. 2023 was $319 Mil. And its Long-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was $6,917 Mil.
New Fortress Energy's Interest Coverage for the quarter that ended in Dec. 2023 is
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. New Fortress Energy Inc interest coverage is 3.59, which is low.
2. Debt to revenue ratio. The lower, the better.
New Fortress Energy's Debt to Revenue Ratio for the quarter that ended in Dec. 2023 is
3. Altman Z-Score.
Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
The zones of discrimination were as such:
When Z-Score is less than 1.81, it is in Distress Zones.
When Z-Score is greater than 2.99, it is in Safe Zones.
When Z-Score is between 1.81 and 2.99, it is in Grey Zones.
New Fortress Energy has a Z-score of 0.90, indicating it is in Distress Zones. This implies bankrupcy possibility in the next two years.
Warning Sign:
Altman Z-score of 0.9 is in distress zone. This implies bankruptcy possibility in the next two years.
* 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.
New Fortress Energy (New Fortress Energy) Business Description
Traded in Other Exchanges
Address
111 W. 19th Street, 8th Floor, New York, NY, USA, 10011
New Fortress Energy is an integrated gas-to-power company. Its business model spans the entire production and delivery chain from natural gas procurement and liquefaction to logistics, shipping, terminals, and conversion or development of a natural gas-fired generation. It has invested in floating, liquefied natural gas vessels to both lower the cost of acquiring gas while securing a long-term supply for its terminals. Its segments include terminals and infrastructure, or T&I, and ships.
Executives
| Desmond Iain Catterall |
director |
C/O NEW FORTRESS ENERGY HOLDINGS, 111 WEST 19TH STREET 8TH FLOOR, NEW YORK NY 10011 |
| Timothy W. Jay |
director |
111 W 19TH STREET, 8TH FLOOR, NEW YORK NY 10011 |
| Matthew Wilkinson |
director |
C/O NEW FORTRESS ENERGY HOLDINGS, 111 WEST 19TH STREET 8TH FLOOR, NEW YORK NY 10011 |
| C. William Griffin |
director |
C/O NEW FORTRESS ENERGY HOLDINGS, 111 WEST 19TH STREET 8TH FLOOR, NEW YORK NY 10011 |
| Katherine Wanner |
director |
C/O NEW FORTRESS ENERGY HOLDINGS, 111 WEST 19TH STREET 8TH FLOOR, NEW YORK NY 10011 |
| Nfe Smrs Holdings Llc |
10 percent owner |
10 STATION PLACE, P.O. BOX 233, NORFOLK CT 06058 |
| Yunyoung Shin |
officer: Chief Accounting Officer |
C/O NEW FORTRESS ENERGY, 111 WEST 19TH STREET, 8TH FLOOR, NEW YORK NY 10011 |
| John J Mack |
director |
C/O MORGAN STANLEY 1585 BROADWAY, NEW YORK NY 10036 |
| Lynn Edens |
10 percent owner |
C/O FORTRESS INVESTMENT GROUP LLC, 1345 AVENUE OF THE AMERICAS, 46TH FLOOR, NEW YORK NY 10105 |
| Edens Family Holdings Llc |
10 percent owner |
C/O FORTRESS INVESTMENT GROUP LLC, 1345 AVENUE OF THE AMERICAS, 46TH FLOOR, NEW YORK NY 10105 |
| Alexander Thomson |
10 percent owner |
10 STATION PLACE, P.O. BOX 233, NORFOLK CT 06058 |
| Jonathan Rotolo |
10 percent owner |
10 STATION PLACE, P.O. BOX 233, NORFOLK CT 06058 |
| Great Mountain Partners Llc |
10 percent owner |
157 CHURCH STREET, 20TH FLOOR, NEW HAVEN CT 06510 |
| David J Grain |
director |
C/O MOTIENT CORPORATION, 300 KNIGHTSBRIDGE PARKWAY, LINCOLNSHIRE IL 60069 |
| Wesley R Edens |
director, officer: Chief Executive Officer |
1345 AVENUE OF THE AMERICAS, 45TH FLOOR, NEW YORK NY 10105 |
New Fortress Energy (New Fortress Energy) Headlines
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