SKYX Platforms (SKYX Platforms) Interest Coverage : 0 (At Loss) (As of Mar. 2024)

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What is SKYX Platforms 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. SKYX Platforms's Operating Income for the three months ended in Mar. 2024 was $-8.89 Mil. SKYX Platforms's Interest Expense for the three months ended in Mar. 2024 was $-0.79 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 SKYX Platforms's Interest Coverage or its related term are showing as below:

SKYX's Interest Coverage is not ranked ^*
in the Industrial Products industry.
Industry Median: 13.64
* 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.

SKYX Platforms Interest Coverage Historical Data

The historical data trend for SKYX Platforms'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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SKYX Platforms Interest Coverage Chart

SKYX Platforms Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec20

Dec21

Dec22

Dec23

Interest Coverage

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SKYX Platforms Quarterly Data
	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Interest Coverage	Get a 7-Day Free Trial															-	-	-	-	-

Competitive Comparison of SKYX Platforms's Interest Coverage

For the Electrical Equipment & Parts subindustry, SKYX Platforms'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.

SKYX Platforms's Interest Coverage Distribution in the Industrial Products Industry

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

* The bar in red indicates where SKYX Platforms's Interest Coverage falls into.

SKYX Platforms 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.

SKYX Platforms'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, SKYX Platforms's Interest Expense was $-3.11 Mil. Its Operating Income was $-37.83 Mil. And its Long-Term Debt & Capital Lease Obligation was $29.04 Mil.

SKYX Platforms did not have earnings to cover the interest expense.

SKYX Platforms's Interest Coverage for the quarter that ended in Mar. 2024 is calculated as

Here, for the three months ended in Mar. 2024, SKYX Platforms's Interest Expense was $-0.79 Mil. Its Operating Income was $-8.89 Mil. And its Long-Term Debt & Capital Lease Obligation was $32.51 Mil.

SKYX Platforms did not have earnings to cover the interest expense.

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

SKYX Platforms (NAS:SKYX) 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 .

SKYX Platforms Interest Coverage Related Terms

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

SKYX Platforms (SKYX Platforms) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » SKYX Platforms Corp (NAS:SKYX) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

N/A

Address

2855 West McNab Road, Pompano Beach, FL, USA, 33069

Website

https://www.skyplug.com/

SKYX Platforms Corp operates in the business of developing proprietary technology that enables a quick and safe installation of electrical fixtures, such as light fixtures and ceiling fans. The company's technology consists of a weight bearing, fixable socket and a revolving plug for conducting electric power and supporting an electrical appliance attached to a wall or ceiling. The socket is comprised of a nonconductive body that houses conductive rings connectable to an electric power supply through terminals in its side exterior. The plug is also comprised of a nonconductive body that houses corresponding conductive rings, attaches to the socket via a male post and is capable of feeding electric power to an appliance. The Company generates its income from the United States.

Executives

John P. Campi	officer: Chief Executive Officer	C/O SAFETY QUICK LIGHTING & FANS CORP., 4400 NORTH POINT PARKWAY, SUITE 154, ALPHARETTA GA 30022
Ran Roland Kohen	director, 10 percent owner	20735 NE 32 PL, AVENTURA FL 33180
Dov Shiff	director, 10 percent owner	C/O SAFETY QUICK LIGHTING & FANS CORP., 4400 NORTH POINT PARKWAY, SUITE 154, ALPHARETTA GA 30022
Steven Mark Schmidt	officer: President	36 S. PENNSYLVANIA STREET, SUITE 500, INDIANAPOLIS IN 46204
Nancy Dimattia	director	C/O 14000 CARLSON PARKWAY, PLYMOUTH MN 55441
Marc Andre Boisseau	officer: Chief Financial Officer	1650 OAKBROOK DRIVE, NORCROSS GA 30093
Patricia Ann Barron	officer: Chief Operations Officer	4400 NORTH POINT PARKWAY, SUITE 154, ALPHARETTA GA 30022
Gary N Golden	director	C/O SQL TECHNOLOGIES CORP., 11030 JONES BRIDGE ROAD, STE. 206, JOHNS CREEK GA 30022
Greenstein Brayer Efrat L	director	C/O SQL TECHNOLOGIES CORP., 11030 JONES BRIDGE ROAD, STE. 206, JOHNS CREEK GA 30022
Mark J Wells	officer: President	1219 WEST 67TH STREET, CLEVELAND OH 44102
Leonard J Sokolow	director	REGATTA OFFICE PARK, WINDWARD THREE, 4TH FLOOR, WEST BAY ROAD, P.O. BOX 1114, GRAND CAYMAN E9 E9 KY11102
Thomas J Ridge	director	C/O SAFETY QUICK LIGHTING & FANS CORP., 4400 NORTH POINT PARKWAY, SUITE 154, ALPHARETTA GA 30022
Phillips S. Peter	director	C/O SAFETY QUICK LIGHTING & FANS CORP., 4400 NORTH POINT PARKWAY, SUITE 154, ALPHARETTA GA 30022
Montek 7 Sql Llc	10 percent owner	C/O SAFETY QUICK LIGHTING & FANS CORP., 4400 NORTH POINT PARKWAY, SUITE 154, ALPHARETTA GA 30022