Genco Shipping & Trading (Genco Shipping & Trading) Interest Coverage : 7.88 (As of Dec. 2023)

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What is Genco Shipping & Trading 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. Genco Shipping & Trading's Operating Income for the three months ended in Dec. 2023 was $20.7 Mil. Genco Shipping & Trading's Interest Expense for the three months ended in Dec. 2023 was $-2.6 Mil. Genco Shipping & Trading's interest coverage for the quarter that ended in Dec. 2023 was 7.88. The higher the ratio, the stronger the company's financial strength is.

The historical rank and industry rank for Genco Shipping & Trading's Interest Coverage or its related term are showing as below:

GNK' s Interest Coverage Range Over the Past 10 Years
Min: 0.33 Med: 4.09 Max: 18.39
Current: 4.09

GNK's Interest Coverage is ranked worse than
60.1% of 817 companies
in the Transportation industry
Industry Median: 5.6 vs GNK: 4.09

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

Genco Shipping & Trading Interest Coverage Historical Data

The historical data trend for Genco Shipping & Trading'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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Genco Shipping & Trading Interest Coverage Chart

Genco Shipping & Trading Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Coverage

Get a 7-Day Free Trial

0.33

12.78

18.39

4.09

Genco Shipping & Trading 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															14.17	2.19	6.11	-	7.88

Competitive Comparison of Genco Shipping & Trading's Interest Coverage

For the Marine Shipping subindustry, Genco Shipping & Trading'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.

Genco Shipping & Trading's Interest Coverage Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, Genco Shipping & Trading's Interest Coverage distribution charts can be found below:

* The bar in red indicates where Genco Shipping & Trading's Interest Coverage falls into.

Genco Shipping & Trading 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.

Genco Shipping & Trading'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, Genco Shipping & Trading's Interest Expense was $-8.8 Mil. Its Operating Income was $35.9 Mil. And its Long-Term Debt & Capital Lease Obligation was $192.0 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Dec. 2023 )	/	Interest Expense (A: Dec. 2023 )
	=	-1	*	35.872	/	-8.78
	=	4.09

Genco Shipping & Trading's Interest Coverage for the quarter that ended in Dec. 2023 is calculated as

Here, for the three months ended in Dec. 2023, Genco Shipping & Trading's Interest Expense was $-2.6 Mil. Its Operating Income was $20.7 Mil. And its Long-Term Debt & Capital Lease Obligation was $192.0 Mil.

Interest Coverage	=	-1	*	Operating Income (Q: Dec. 2023 )	/	Interest Expense (Q: Dec. 2023 )
	=	-1	*	20.654	/	-2.622
	=	7.88

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

Genco Shipping & Trading (NYSE:GNK) 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 .

Genco Shipping & Trading Interest Coverage Related Terms

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

Genco Shipping & Trading (Genco Shipping & Trading) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Genco Shipping & Trading Ltd (NYSE:GNK) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

GNU1:Germany

Address

299 Park Avenue, 12th Floor, New York, NY, USA, 10171

Website

https://www.gencoshipping.com

Genco Shipping & Trading Ltd is an international shipping company specializing in the transportation of iron ore, coal, grain, steel products and other drybulk cargoes. It is involved in the ocean transportation of drybulk cargoes. The company operates in one segment, the ocean transportation of drybulk cargoes through the ownership and operation of drybulk carrier vessels. It generates revenue through time charter agreements, spot market voyage charters, pool agreements and spot market-related time charters.

Executives

Peter George Allen	officer: Chief Financial Officer	GENCO SHIPPING & TRADING LIMITED, 299 PARK AVENUE, 12TH FLOOR, NEW YORK NY 10171
Arthur L Regan	director	C/O ARLINGTON TANKERS LTD, THE HAYWARD BUILDING 22 BERMUDIANA ROAD, HAMILTON HM 11 D0 --
Jesper Christensen	officer: Chief Commercial Officer	GENCO SHIPPING & TRADING LIMITED, 299 PARK AVENUE, 12TH FLOOR, NEW YORK NY 10171
Robert E Hughes	officer: Chief Operations Officer	GENCO SHIPPING & TRADING LIMITED, 299 PARK AVE., 12TH FLOOR, NEW YORK NY 10171
Apostolos Zafolias	officer: Chief Financial Officer	GENCO SHIPPING & TRADING, 299 PARK AVENUE, 12TH FLOOR, NEW YORK NY 10171
John C Wobensmith	officer: Chief Financial Officer	35 WEST 56TH STREET, NEW YORK NY 10019
Joseph Adamo	officer: Chief Accounting Officer	GENCO SHIPPING & TRADING, 299 PARK AVENUE, 12TH FLOOR, NEW YORK NY 10171
Ccp Ii Cayman Gp Ltd.	10 percent owner	375 PARK AVE, 12TH FLOOR, NEW YORK NY 10152
Centerbridge Credit Partners, L.p.	10 percent owner	375 PARK AVENUE, 11TH FLOOR, NEW YORK NY 10152
Karin Y Orsel	director	HOGELANDSTERWEG 14, FARMSUM P7 9936 BH
Apollo Management Holdings Gp, Llc	10 percent owner	9 W. 57TH STREET, 43RD FLOOR, NEW YORK NY 10019
Strategic Value Partners, Llc	10 percent owner	100 WEST PUTNAM AVENUE, GREENWICH CT 06830
Daniel Han	director	GENCO SHIPPING & TRADING LIMITED, 299 PARK AVE., 12TH FLOOR, NEW YORK NY 10171
Kathleen C Haines	director	P.O. BOX 385, COS COB CT 06807
Christoph O Majeske	director	17001 NORTHCHASE DR., STE. 100, HOUSTON TX 77060