Patriot Lithium (ASX:PAT) Interest Coverage : No Debt ⁽¹⁾ (As of Dec. 2023)

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What is Patriot Lithium 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. Patriot Lithium's Operating Income for the six months ended in Dec. 2023 was A$-3.96 Mil. Patriot Lithium's Interest Expense for the six months ended in Dec. 2023 was A$0.00 Mil. Patriot Lithium has no debt. The higher the ratio, the stronger the company's financial strength is.

Good Sign:

Ben Graham prefers companies' interest coverage to be at least 5. Patriot Lithium Ltd has enough cash to cover all of its debt. Its financial situation is stable.

(1) 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.

The historical rank and industry rank for Patriot Lithium's Interest Coverage or its related term are showing as below:

ASX:PAT' s Interest Coverage Range Over the Past 10 Years
Min: 0 Med: 0 Max: No Debt
Current: No Debt

ASX:PAT's Interest Coverage is ranked better than
99.85% of 1343 companies
in the Metals & Mining industry
Industry Median: No Debt vs ASX:PAT: No Debt

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

Patriot Lithium Interest Coverage Historical Data

The historical data trend for Patriot Lithium'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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Patriot Lithium Interest Coverage Chart

Patriot Lithium Annual Data

Trend

Jun22

Jun23

Interest Coverage

N/A

Patriot Lithium Semi-Annual Data
	Dec22	Jun23	Dec23
Interest Coverage	No Debt	No Debt	No Debt

Competitive Comparison of Patriot Lithium's Interest Coverage

For the Other Industrial Metals & Mining subindustry, Patriot Lithium'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.

Patriot Lithium's Interest Coverage Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Patriot Lithium's Interest Coverage distribution charts can be found below:

* The bar in red indicates where Patriot Lithium's Interest Coverage falls into.

Patriot Lithium 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.

Patriot Lithium's Interest Coverage for the fiscal year that ended in Jun. 2023 is calculated as

Here, for the fiscal year that ended in Jun. 2023, Patriot Lithium's Interest Expense was A$-0.00 Mil. Its Operating Income was A$-4.92 Mil. And its Long-Term Debt & Capital Lease Obligation was A$0.00 Mil.

Patriot Lithium did not have earnings to cover the interest expense.

Patriot Lithium's Interest Coverage for the quarter that ended in Dec. 2023 is calculated as

Here, for the six months ended in Dec. 2023, Patriot Lithium's Interest Expense was A$0.00 Mil. Its Operating Income was A$-3.96 Mil. And its Long-Term Debt & Capital Lease Obligation was A$0.00 Mil.

Patriot Lithium had no debt ⁽¹⁾.

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

Patriot Lithium (ASX:PAT) 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 .

Patriot Lithium Interest Coverage Related Terms

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

Patriot Lithium (ASX:PAT) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Patriot Lithium Ltd (ASX:PAT) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

N/A

Address

16 Milligan Street, Level 3, Perth, WA, AUS, 6000

Website

https://www.patriot-lithium.com

Patriot Lithium Ltd is focused on acquiring, exploring and developing lithium projects in South Dakota, Wyoming and Arizona in the United States of America. The company has three project areas, namely the Keystone Project comprising of 255 unpatented lode mining claims, the Tinton West Project comprising the TSD Claim Group of 20 unpatented lode mining claims and the TW Claim Group of 49 unpatented lode mining claims, and the Wickenburg Project comprising of 347 unpatented lode mining claims. The company is also engaged in the Ontario Lithium project.

Patriot Lithium (ASX:PAT) Headlines

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Patriot Lithium (ASX:PAT) Interest Coverage : No Debt (1) (As of Dec. 2023)