Gaming and Leisure Properties (Gaming and Leisure Properties) Interest Coverage : 3.56 (As of Dec. 2023)

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What is Gaming and Leisure Properties 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. Gaming and Leisure Properties's Operating Income for the three months ended in Dec. 2023 was $295 Mil. Gaming and Leisure Properties's Interest Expense for the three months ended in Dec. 2023 was $-83 Mil. Gaming and Leisure Properties's interest coverage for the quarter that ended in Dec. 2023 was 3.56. The higher the ratio, the stronger the company's financial strength is.

The historical rank and industry rank for Gaming and Leisure Properties's Interest Coverage or its related term are showing as below:

GLPI' s Interest Coverage Range Over the Past 10 Years
Min: 2.07 Med: 2.68 Max: 3.3
Current: 3.3

GLPI's Interest Coverage is ranked better than
55.33% of 676 companies
in the REITs industry
Industry Median: 2.98 vs GLPI: 3.30

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

Gaming and Leisure Properties Interest Coverage Historical Data

The historical data trend for Gaming and Leisure Properties'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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Gaming and Leisure Properties Interest Coverage Chart

Gaming and Leisure Properties Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Coverage

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2.38

2.72

2.90

3.11

3.30

Gaming and Leisure Properties 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															3.60	3.28	3.00	3.36	3.56

Competitive Comparison of Gaming and Leisure Properties's Interest Coverage

For the REIT - Specialty subindustry, Gaming and Leisure Properties'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.

Gaming and Leisure Properties's Interest Coverage Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Gaming and Leisure Properties's Interest Coverage distribution charts can be found below:

* The bar in red indicates where Gaming and Leisure Properties's Interest Coverage falls into.

Gaming and Leisure Properties 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.

Gaming and Leisure Properties'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, Gaming and Leisure Properties's Interest Expense was $-323 Mil. Its Operating Income was $1,069 Mil. And its Long-Term Debt & Capital Lease Obligation was $6,879 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Dec. 2023 )	/	Interest Expense (A: Dec. 2023 )
	=	-1	*	1068.682	/	-323.388
	=	3.30

Gaming and Leisure Properties's Interest Coverage for the quarter that ended in Dec. 2023 is calculated as

Here, for the three months ended in Dec. 2023, Gaming and Leisure Properties's Interest Expense was $-83 Mil. Its Operating Income was $295 Mil. And its Long-Term Debt & Capital Lease Obligation was $6,879 Mil.

Interest Coverage	=	-1	*	Operating Income (Q: Dec. 2023 )	/	Interest Expense (Q: Dec. 2023 )
	=	-1	*	295.276	/	-82.869
	=	3.56

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

Gaming and Leisure Properties (NAS:GLPI) 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 .

Gaming and Leisure Properties Interest Coverage Related Terms

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

Gaming and Leisure Properties (Gaming and Leisure Properties) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Gaming and Leisure Properties Inc (NAS:GLPI) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

2GL:Germany

Address

845 Berkshire Boulevard, Suite 200, Wyomissing, PA, USA, 19610

Website

https://www.glpropinc.com

Gaming and Leisure Properties Inc, or GLP, is a real estate investment property trust primarily involved in the leasing of gaming and related facilities to wholly-owned subsidiaries of Penn National Gaming, or Penn, throughout the U.S. GLP segments its operations into GLP Capital and TRS Properties divisions. The company derives the vast majority of its revenue from its GLP Capital unit in the form of rental income from dockside and land-based casinos located mostly in the American Midwest. Almost all of GLP Capital's leases are long-term agreements that give Penn the option for future extensions. Gaming revenue generated by TRS Properties, which encompasses the operations of Hollywood Casino Perryville and Hollywood Casino Baton Rouge, also represents a significant income stream for GLP.

Executives

Steven Ladany	officer: SVP Chief Development Officer	845 BERKSHIRE BLVD., SUITE 200, WYOMISSING PA 19610
Brandon John Moore	officer: SVP & General Counsel	845 BERKSHIRE BLVD., SUITE 200, WYOMISSING PA 19610
Matthew Demchyk	officer: SVP, Investments	845 BERKSHIRE BOULEVARD, WYOMISSING PA 19610
Desiree A. Burke	officer: Chief Accounting Officer	845 BERKSHIRE BOULEVARD, SUITE 200, WYOMISSING PA 19610
Barry F Schwartz	director	35 EAST 62ND ST, NEW YORK NY 10021
E Scott Urdang	director	845 BERKSHIRE BOULEVARD, SUITE 200, WYOMISSING PA 19610
Joanne A. Epps	director, Director	C/O PENN, REAL ESTATE INVESTMENT TRUST, THE BELLEVUE, 200 S. BROAD STREET, PHILADELPHIA PA 19102
Earl C Shanks	director	CONVERGYS CORPORATION, 201 EAST FOURTH STREET, CINCINNATI OH 45202
Peter M Carlino	director, officer: CEO & President	845 BERKSHIRE BLVD, SUITE 200, WYOMISSING PA 19610
Carol Lynton	director	C/O EL POLLO HOLDINGS, INC., 3535 HARBOR BOULEVARD, SUITE 100, COSTA MESA CA 92626
Marshall Joseph W Iii	director	500 OFFICE CENTER DRIVE, SUITE 400, FT. WASHINGTON PA 19034
David A Handler	director	845 BERKSHIRE BLVD, SUITE 200, WYOMISSING PA 19610
William J Clifford	officer: CFO, Sec. & Treas.	845 BERKSHIRE BLVD. SUITE 200, WYOMISSING PA 19610
James Perry	director
Steven T. Snyder	officer: SR VP-Corp Development	845 BERKSHIRE BOULEVARD, SUITE 200, WYOMISSING PA 19610