Ampco-Pittsburgh (Ampco-Pittsburgh) Interest Coverage : 1.69 (As of Dec. 2023)

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What is Ampco-Pittsburgh 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. Ampco-Pittsburgh's Operating Income for the three months ended in Dec. 2023 was $4.3 Mil. Ampco-Pittsburgh's Interest Expense for the three months ended in Dec. 2023 was $-2.6 Mil. Ampco-Pittsburgh's interest coverage for the quarter that ended in Dec. 2023 was 1.69. The higher the ratio, the stronger the company's financial strength is.

The historical rank and industry rank for Ampco-Pittsburgh's Interest Coverage or its related term are showing as below:

AP' s Interest Coverage Range Over the Past 10 Years
Min: 0.62 Med: 1.44 Max: 21.45
Current: 1.18

AP's Interest Coverage is ranked worse than
94.17% of 2298 companies
in the Industrial Products industry
Industry Median: 13.58 vs AP: 1.18

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

Ampco-Pittsburgh Interest Coverage Historical Data

The historical data trend for Ampco-Pittsburgh'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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Ampco-Pittsburgh Interest Coverage Chart

Ampco-Pittsburgh Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Coverage

Get a 7-Day Free Trial

1.68

0.62

1.44

1.18

Ampco-Pittsburgh 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															3.39	0.90	1.47	0.62	1.69

Competitive Comparison of Ampco-Pittsburgh's Interest Coverage

For the Metal Fabrication subindustry, Ampco-Pittsburgh'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.

Ampco-Pittsburgh's Interest Coverage Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, Ampco-Pittsburgh's Interest Coverage distribution charts can be found below:

* The bar in red indicates where Ampco-Pittsburgh's Interest Coverage falls into.

Ampco-Pittsburgh 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.

Ampco-Pittsburgh'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, Ampco-Pittsburgh's Interest Expense was $-9.3 Mil. Its Operating Income was $11.0 Mil. And its Long-Term Debt & Capital Lease Obligation was $120.2 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Dec. 2023 )	/	Interest Expense (A: Dec. 2023 )
	=	-1	*	11.021	/	-9.347
	=	1.18

Ampco-Pittsburgh's Interest Coverage for the quarter that ended in Dec. 2023 is calculated as

Here, for the three months ended in Dec. 2023, Ampco-Pittsburgh's Interest Expense was $-2.6 Mil. Its Operating Income was $4.3 Mil. And its Long-Term Debt & Capital Lease Obligation was $120.2 Mil.

Interest Coverage	=	-1	*	Operating Income (Q: Dec. 2023 )	/	Interest Expense (Q: Dec. 2023 )
	=	-1	*	4.333	/	-2.563
	=	1.69

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

Ampco-Pittsburgh (NYSE:AP) 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 .

Ampco-Pittsburgh Interest Coverage Related Terms

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

Ampco-Pittsburgh (Ampco-Pittsburgh) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Ampco-Pittsburgh Corp (NYSE:AP) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

N/A

Address

726 Bell Avenue, Suite 301, Carnegie, PA, USA, 15106

Website

http://www.ampcopgh.com

Ampco-Pittsburgh Corp is a U,S.-based company manufacturing and selling engineered, specialty metal products and customized equipment. It operates in two business segments namely the Forged and Cast Engineered Products segment and the Air and Liquid Processing segment. The Forged and Cast Engineered Products segment produces forged hardened steel rolls, cast rolls, and open-die forged products. Forged hardened steel rolls are used in cold rolling mills by producers of steel, aluminum, and other metals whereas, the Air and Liquid Processing segment includes Aerofin, Buffalo Air Handling, and Buffalo Pumps. The company generates a majority of its revenue from the Forged and Cast Engineered Products segment. It has a business presence in the U,S and other countries.

Executives

Darrell L Mcnair	director	726 BELL AVENUE, SUITE 301, CARNEGIE PA 15106
Frederick D. Disanto	director	6060 PARKLAND, SUITE 200, CLEVELAND OH 44124
David George Anderson	officer: President,Air&Liq. Proc. Group	726 BELL AVENUE, SUITE 301, CARNEGIE PA 15106
Robert Demichiei	director	726 BELL AVE., SUITE 301, PO BOX 457, CARNEGIE PA 15106
Michael G Mcauley	officer: CFO & Treasurer	1550 CORAOPOLIS HEIGHTS ROAD, SUITE 500, PITTSBURGH PA 15108
Louis Berkman Investment Co	10 percent owner	330 N. SEVENTH STREET, STEUBENVILLE OH 43952
Brett Mcbrayer	director, officer: Chief Executive Officer	726 BELL AVENUE, SUITE 301, CARNEGIE PA 15106
Pforzheimer Carl H Ii	director	CARL H PFORZHEIMER & CO, 650 MADISON 23 FLOOR, NEW YORK NY 10022
Samuel Lyon	officer: President of Union Electric	C/O UNION ELECTRIC STEEL CORPORATION, 726 BELL AVENUE, CARNEGIE PA 15106
Elizabeth Anne Fessenden	director	1137 WEST AVENUE, RICHMOND VA 23220
Crawford United Corp	other: Member of 10% owner group	10514 DUPONT AVE, CLEVELAND OH 44108
Edward F Crawford	other: Member of 10% owner group
2006 Irrevocable Trust Of Laura W. Van Loan For The Benefit Of Mary M. Crawford	other: Member of 10% owner group	6065 PARKLAND BOULEVARD, CLEVELAND OH 44124
Altor Ii Aggregator Topco Ltd	10 percent owner	11-15 SEATON PLACE, ST. HELIER Y9 JE4 0QH
Terry L Dunlap	director	1000 SIX PPG PLACE, PITTSBURGH PA 15222