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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. Equity Residential's Operating Income for the three months ended in Jun. 2024 was $226 Mil. Equity Residential's Interest Expense for the three months ended in Jun. 2024 was $-66 Mil. Equity Residential's interest coverage for the quarter that ended in Jun. 2024 was 3.43. The higher the ratio, the stronger the company's financial strength is.
The historical rank and industry rank for Equity Residential's Interest Coverage or its related term are showing as below:
Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.
The historical data trend for Equity Residential'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.
Equity Residential Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Interest Coverage | Get a 7-Day Free Trial | 2.33 | 2.15 | 2.28 | 2.87 | 3.26 |
Equity Residential Quarterly Data | ||||||||||||||||||||
Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | Jun24 | Sep24 | |
Interest Coverage | Get a 7-Day Free Trial | 3.27 | 3.45 | 3.13 | 3.43 | 3.07 |
For the REIT - Residential subindustry, Equity Residential'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.
For the REITs industry and Real Estate sector, Equity Residential's Interest Coverage distribution charts can be found below:
* The bar in red indicates where Equity Residential's Interest Coverage falls into.
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.
Equity Residential'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, Equity Residential's Interest Expense was $-270 Mil. Its Operating Income was $878 Mil. And its Long-Term Debt & Capital Lease Obligation was $7,293 Mil.
Interest Coverage | = | -1 | * | Operating Income (A: Dec. 2023 ) | / | Interest Expense (A: Dec. 2023 ) |
= | -1 | * | 878.046 | / | -269.556 | |
= | 3.26 |
Equity Residential's Interest Coverage for the quarter that ended in Jun. 2024 is calculated as
Here, for the three months ended in Jun. 2024, Equity Residential's Interest Expense was $-66 Mil. Its Operating Income was $226 Mil. And its Long-Term Debt & Capital Lease Obligation was $7,295 Mil.
Interest Coverage | = | -1 | * | Operating Income (Q: Jun. 2024 ) | / | Interest Expense (Q: Jun. 2024 ) |
= | -1 | * | 225.554 | / | -65.828 | |
= | 3.43 |
* 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.
The higher the ratio, the stronger the company's Financial Strength is.
Equity Residential (NYSE:EQR) 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 .
Thank you for viewing the detailed overview of Equity Residential's Interest Coverage provided by GuruFocus.com. Please click on the following links to see related term pages.
Catherine Carraway | officer: Executive Vice President | TWO NORTH RIVERSIDE PLAZA, SUITE 500, CHICAGO IL 60606 |
Alexander Brackenridge | officer: Executive Vice President | TWO NORTH RIVERSIDE PLAZA, SUITE 400, CHICAGO IL 60606 |
Scott Fenster | officer: EVP & General Counsel | TWO NORTH RIVERSIDE PLAZA, SUITE 400, CHICAGO IL 60606 |
Ian Kaufman | officer: Chief Accounting Officer | C/O EQUITY RESIDENTIAL, TWO NORTH RIVERSIDE PLAZA, SUITE 400, CHICAGO IL 60606 |
Michael L Manelis | officer: Executive Vice President | TWO NORTH RIVERSIDE PLAZA, SUITE 400, CHICAGO IL 60606 |
Robert Garechana | officer: EVP & Chief Financial Officer | TWO NORTH RIVERSIDE PLAZA, SUITE 400, CHICAGO IL 60606 |
Linda Bynoe | director | 980 N. MICHIGAN AVE, SUITE 1400, CHICAGO IL 60611 |
Mary Kay Haben | director | C/O EQUITY RESIDENTIAL, TWO NORTH RIVERSIDE PLAZA, SUITE 400, CHICAGO IL 60606 |
David J Neithercut | director | C/O EQUITY RESIDENTIAL, TWO NORTH RIVERSIDE PLAZA, SUITE 400, CHICAGO IL 60606 |
Mark S Shapiro | director | C/O RED ZONE LLC, 21300 REDSKIN PARK DRIVE, ASHBURN VA 20147 |
Christa L Sorenson | officer: Executive Vice President | TWO NORTH RIVERSIDE PLAZA, SUITE 400, CHICAGO IL 60606 |
Angela M Aman | director | RETAIL PROPERTIES OF AMERICA, INC., 2021 SPRING ROAD, SUITE 200, OAK BROOK IL 60523 |
Duckworth Connie K | director | EIGHT WINGS ENTERPRISES, 77 STONE AGTE LANE, LAKE FOREST IL 60045 |
Bradley A Keywell | director | |
John E Neal | director | 2020 CALAMOS COURT, NAPERVILLE X1 60563 |
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