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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. Avid Bioservices's Operating Income for the three months ended in Jan. 2024 was $-4.0 Mil. Avid Bioservices's Interest Expense for the three months ended in Jan. 2024 was $-0.9 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 Avid Bioservices's Interest Coverage or its related term are showing as below:
Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.
The historical data trend for Avid Bioservices'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.
Avid Bioservices Annual Data | |||||||||||||||||||||
Trend | Apr14 | Apr15 | Apr16 | Apr17 | Apr18 | Apr19 | Apr20 | Apr21 | Apr22 | Apr23 | |||||||||||
Interest Coverage | Get a 7-Day Free Trial | - | - | 10.52 | 5.75 | 1.39 |
Avid Bioservices Quarterly Data | ||||||||||||||||||||
Apr19 | Jul19 | Oct19 | Jan20 | Apr20 | Jul20 | Oct20 | Jan21 | Apr21 | Jul21 | Oct21 | Jan22 | Apr22 | Jul22 | Oct22 | Jan23 | Apr23 | Jul23 | Oct23 | Jan24 | |
Interest Coverage | Get a 7-Day Free Trial | 4.27 | 3.38 | - | - | - |
For the Biotechnology subindustry, Avid Bioservices'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.
For the Biotechnology industry and Healthcare sector, Avid Bioservices's Interest Coverage distribution charts can be found below:
* The bar in red indicates where Avid Bioservices's Interest Coverage falls into.
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.
Avid Bioservices's Interest Coverage for the fiscal year that ended in Apr. 2023 is calculated as
Here, for the fiscal year that ended in Apr. 2023, Avid Bioservices's Interest Expense was $-2.6 Mil. Its Operating Income was $3.6 Mil. And its Long-Term Debt & Capital Lease Obligation was $187.9 Mil.
Interest Coverage | = | -1 | * | Operating Income (A: Apr. 2023 ) | / | Interest Expense (A: Apr. 2023 ) |
= | -1 | * | 3.601 | / | -2.6 | |
= | 1.39 |
Avid Bioservices's Interest Coverage for the quarter that ended in Jan. 2024 is calculated as
Here, for the three months ended in Jan. 2024, Avid Bioservices's Interest Expense was $-0.9 Mil. Its Operating Income was $-4.0 Mil. And its Long-Term Debt & Capital Lease Obligation was $52.2 Mil.
Avid Bioservices did not have earnings to cover the interest expense. |
* 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.
The higher the ratio, the stronger the company's Financial Strength is.
Avid Bioservices (NAS:CDMO) 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 .
Thank you for viewing the detailed overview of Avid Bioservices's Interest Coverage provided by GuruFocus.com. Please click on the following links to see related term pages.
Matthew R. Kwietniak | officer: Chief Commercial Officer | 14191 MYFORD ROAD, TUSTIN CA 92780 |
Richard A. Richieri | officer: Chief Operations Officer | 14191 MYFORD ROAD, TUSTIN CA 92780 |
Daniel Ryan Hart | officer: Chief Financial Officer | 2642 MICHELLE DR., SUITE 200, TUSTIN CA 62780 |
Mark R Ziebell | officer: V.P., General Counsel | 14282 FRANKLIN AVENUE, TUSTIN CA 92780 |
Richard B Hancock | director | 14282 FRANKLIN AVE., TUSTIN CA 92780 |
Joseph Carleone | director | 3883 HOWARD HUGHES PKWY, SUITE 700, LAS VEGAS NV 89169 |
Nicholas Stewart Green | director, officer: President & CEO | 2642 MICHELLE DRIVE, SUITE 200, TUSTIN CA 92780 |
Gregory Sargen | director | |
Esther M. Alegria | director | 2642 MICHELLE DRIVE, SUITE 200, TUSTIN CA 92780 |
Mark R Bamforth | director | 500 KENDALL ST., CAMBRIDGE MA 02142 |
Jeanne Thoma | director | C/O ANI PHARMACEUTICALS, INC., 210 MAIN STREET WEST, BAUDETTE MN 56623 |
Patrick D Walsh | director | 14282 FRANKLIN AVE., TUSTIN CA 92780 |
Catherine J Mackey | director | 3595 JOHN HOPKINS COURT, SAN DIEGO CA 92121 |
Joel Mccomb | director | 9885 TOWNE CENTRE DRIVE, SAN DIEGO CA 92121 |
Stephen Michael Hedberg | officer: Principal Fin. & Acct. Officer | 2642 MICHELLE DRIVE, SUITE 200, TUSTIN CA 92780 |
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