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iCoreConnect has the Financial Strength Rank of 1. It displays poor financial strength and is likely in financial distress. Usually this is caused by too much debt for the company.
Warning Sign:
iCoreConnect Inc displays poor financial strength. Usually, this is caused by too much debt for the company.
GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors:
1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.iCoreConnect did not have earnings to cover the interest expense. iCoreConnect's debt to revenue ratio for the quarter that ended in Mar. 2024 was 0.85. As of today, iCoreConnect's Altman Z-Score is -10.77.
For the Health Information Services subindustry, iCoreConnect's Financial Strength, along with its competitors' market caps and Financial Strength 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 Healthcare Providers & Services industry and Healthcare sector, iCoreConnect's Financial Strength distribution charts can be found below:
* The bar in red indicates where iCoreConnect's Financial Strength falls into.
GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors
A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.
1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.
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:
iCoreConnect's Interest Expense for the months ended in Mar. 2024 was $-0.23 Mil. Its Operating Income for the months ended in Mar. 2024 was $-3.04 Mil. And its Long-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2024 was $2.08 Mil.
iCoreConnect's Interest Coverage for the quarter that ended in Mar. 2024 is
iCoreConnect did not have earnings to cover the interest expense. |
The higher the ratio, the stronger the company's financial strength is.
2. Debt to revenue ratio. The lower, the better.
iCoreConnect's Debt to Revenue Ratio for the quarter that ended in Mar. 2024 is
Debt to Revenue Ratio | = | Total Debt (Q: Mar. 2024 ) | / | Revenue | ||
= | (Short-Term Debt & Capital Lease Obligation | + | Long-Term Debt & Capital Lease Obligation) | / | Revenue | |
= | (7.201 | + | 2.081) | / | 10.892 | |
= | 0.85 |
3. Altman Z-Score.
Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
The zones of discrimination were as such:
When Z-Score is less than 1.81, it is in Distress Zones.
When Z-Score is greater than 2.99, it is in Safe Zones.
When Z-Score is between 1.81 and 2.99, it is in Grey Zones.
iCoreConnect has a Z-score of -10.77, indicating it is in Distress Zones. This implies bankrupcy possibility in the next two years.
Warning Sign:
Altman Z-score of -10.77 is in distress zone. This implies bankruptcy possibility in the next two years.
* 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.
iCoreConnect (NAS:ICCT) Financial Strength Explanation
The maximum rank is 10. Companies with rank 7 or higher will be unlikely to fall into distressed situations. Companies with rank of 3 or less are likely in financial distress.
iCoreConnect has the Financial Strength Rank of 1. It displays poor financial strength and is likely in financial distress. Usually this is caused by too much debt for the company.
Thank you for viewing the detailed overview of iCoreConnect's Financial Strength provided by GuruFocus.com. Please click on the following links to see related term pages.
Archit Shah | officer: Chief Financial Officer | 529 E. CROWN POINT ROAD, SUITE 250, OCOEE FL 34761 |
John Pasqual | director | C/O ICORECONNECT INC., 529 CROWN POINT ROAD, SUITE 250, OCOEE FL 34761 |
Joseph Gitto | director | C/O ICORECONNECT INC., 529 CROWN POINT ROAD, SUITE 250, OCOEE FL 34761 |
Muralidar Chakravarthi | officer: Chief Technology Officer | 529 EAST CROWN POINT ROAD, SUITE 250, OCOEE FL 34761 |
Harry Joseph Travis | director | C/O ICORECONNECT INC., 529 CROWN POINT ROAD, SUITE 250, OCOEE FL 34761 |
David A. Fidanza | officer: Chief Information Officer | 529 E. CROWN POINT ROAD, SUITE 250, OCOEE FL 34761 |
Robert P Mcdermott | director, 10 percent owner, officer: CEO, President and Chairman | 529 E. CROWN POINT ROAD, SUITE 250, OCOEE FL 34761 |
Mark Penway | officer: Chief Financial Officer | 105 S MAPLE STREET, ITASCA IL 60143 |
Kevin Patrick Mcdermott | director | C/O ICORECONNECT INC., 529 CROWN POINT ROAD, SUITE 250, OCOEE FL 34761 |
Jefff Wayne Stellinga | director | 529 E. CROWN POINT ROAD, SUITE 250, OCOEE FL 34761 |
Robert A Desanti | director, 10 percent owner | 529 E. CROWN POINT ROAD, SUITE 250, OCOEE FL 34761 |
Jeff L Sutton | director | 105 S MAPLE STREET, ITASCA IL 60143 |
Ryan Turner | director | 105 S MAPLE STREET, ITASCA IL 60143 |
Marvin Wesley Schrader | director, officer: Chief Executive Officer | 105 S MAPLE STREET, ITASCA IL 60143 |
Fg Merger Investors Llc | 10 percent owner | 105 S MAPLE STREET, ITASCA IL 60143 |
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