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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. Purple Innovation's Operating Income for the three months ended in Mar. 2024 was $-23.1 Mil. Purple Innovation's Interest Expense for the three months ended in Mar. 2024 was $-4.5 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 Purple Innovation'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 Purple Innovation'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.
Purple Innovation Annual Data | |||||||||||||||||||
Trend | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | ||||||||||
Interest Coverage | Get a 7-Day Free Trial | 3.03 | 7.97 | - | 33.71 | - |
Purple Innovation Quarterly Data | ||||||||||||||||||||
Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | |
Interest Coverage | Get a 7-Day Free Trial | - | - | - | - | - |
For the Furnishings, Fixtures & Appliances subindustry, Purple Innovation'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 Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Purple Innovation's Interest Coverage distribution charts can be found below:
* The bar in red indicates where Purple Innovation'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.
Purple Innovation'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, Purple Innovation's Interest Expense was $-2.0 Mil. Its Operating Income was $-106.8 Mil. And its Long-Term Debt & Capital Lease Obligation was $136.0 Mil.
Purple Innovation did not have earnings to cover the interest expense. |
Purple Innovation's Interest Coverage for the quarter that ended in Mar. 2024 is calculated as
Here, for the three months ended in Mar. 2024, Purple Innovation's Interest Expense was $-4.5 Mil. Its Operating Income was $-23.1 Mil. And its Long-Term Debt & Capital Lease Obligation was $147.6 Mil.
Purple Innovation 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.
Purple Innovation (NAS:PRPL) 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 Purple Innovation's Interest Coverage provided by GuruFocus.com. Please click on the following links to see related term pages.
Jack Roddy | officer: Chief People Officer | C/O SEAWORLD ENTERTAINMENT, INC., 9205 SOUTH PARK CENTER LOOP, SUITE 400, ORLANDO FL 32819 |
Tricia Mcdermott | officer: Chief Legal Officer | C/O PURPLE INNOVATION, INC., 4100 NORTH CHAPEL RIDGE RD., SUITE 200, LEHI UT 84043 |
Todd E. Vogensen | officer: Chief Financial Officer | 11215 METRO PARKWAY, FORT MYERS FL 33966 |
Gary T Dicamillo | director | 888 WASHINGTON STREET, DEDHAM MA 02027 |
Douglas Scott Peterson | director | 4100 N. CHAPEL RIDGE ROAD, SUITE 200, LEHI UT 84043 |
Casey Kale Mcgarvey | officer: Chief Legal Officer and Sec. | 123 EAST 200 NORTH, ALPINE UT 84004 |
Jeffery Scott Kerby | officer: Chief of Owned Retail | 4100 N. CHAPEL RIDGE RD, SUITE 200, LEHI UT 84043 |
Seth Lane Darling | director | 4100 N. CHAPEL RIDGE RD, SUITE 200, LEHI UT 84043 |
R Carter Pate | director | 5739 WORTHAM LANE, DALLAS TX 75252 |
Robert Demartini | director, officer: Acting CEO | 102 WHITE PINE CANYON ROAD, PARK CITY UT 84060 |
Erika Serow | director | 4100 N. CHAPEL RIDGE ROAD, SUITE 200, LEHI UT 84043 |
Eric Scott Haynor | officer: Chief Operating Officer | 4100 N. CHAPEL RIDGE RD, SUITE 200, LEHI UT 84043 |
Coliseum Capital Management, Llc | director, 10 percent owner | 105 ROWAYTON AVENUE, ROWAYTON CT 06853 |
Keira Krausz | officer: Chief Marketing Officer | 4100 N. CHAPEL RIDGE RD, SUITE 200, LEHI UT 84043 |
Jeffrey Layne Hutchings | officer: Chief Innovation Officer | 4100 N. CHAPEL RIDGE RD, SUITE 200, LEHI UT 84043 |
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