Global Partners LP (Global Partners LP) Interest Coverage : 3.93 (As of Dec. 2023)

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What is Global Partners LP 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. Global Partners LP's Operating Income for the three months ended in Dec. 2023 was $81 Mil. Global Partners LP's Interest Expense for the three months ended in Dec. 2023 was $-21 Mil. Global Partners LP's interest coverage for the quarter that ended in Dec. 2023 was 3.93. The higher the ratio, the stronger the company's financial strength is.

The historical rank and industry rank for Global Partners LP's Interest Coverage or its related term are showing as below:

GLP' s Interest Coverage Range Over the Past 10 Years
Min: 1.15 Med: 2.01 Max: 4.68
Current: 2.82

GLP's Interest Coverage is ranked worse than
76.38% of 762 companies
in the Oil & Gas industry
Industry Median: 6.74 vs GLP: 2.82

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

Global Partners LP Interest Coverage Historical Data

The historical data trend for Global Partners LP'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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Global Partners LP Interest Coverage Chart

Global Partners LP Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Coverage

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1.54

2.33

1.77

4.68

2.82

Global Partners LP 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															4.10	2.24	2.92	2.23	3.93

Competitive Comparison of Global Partners LP's Interest Coverage

For the Oil & Gas Midstream subindustry, Global Partners LP'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.

Global Partners LP's Interest Coverage Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Global Partners LP's Interest Coverage distribution charts can be found below:

* The bar in red indicates where Global Partners LP's Interest Coverage falls into.

Global Partners LP 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.

Global Partners LP'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, Global Partners LP's Interest Expense was $-86 Mil. Its Operating Income was $241 Mil. And its Long-Term Debt & Capital Lease Obligation was $1,461 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Dec. 2023 )	/	Interest Expense (A: Dec. 2023 )
	=	-1	*	241.144	/	-85.631
	=	2.82

Global Partners LP's Interest Coverage for the quarter that ended in Dec. 2023 is calculated as

Here, for the three months ended in Dec. 2023, Global Partners LP's Interest Expense was $-21 Mil. Its Operating Income was $81 Mil. And its Long-Term Debt & Capital Lease Obligation was $1,461 Mil.

Interest Coverage	=	-1	*	Operating Income (Q: Dec. 2023 )	/	Interest Expense (Q: Dec. 2023 )
	=	-1	*	81.127	/	-20.668
	=	3.93

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

Global Partners LP (NYSE:GLP) 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 .

Global Partners LP Interest Coverage Related Terms

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

Global Partners LP (Global Partners LP) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Global Partners LP (NYSE:GLP) » Definitions » Interest Coverage

Comparable Companies

GEL LPG DHT TNK NVGS KNTK TNP NGL TK GLNG TSX:ENB EPD ET WMB OKE MPLX KMI TSX:TRP LNG TRGP

Traded in Other Exchanges

GLPpB.PFD:USA GLPpA.PFD:USA

Address

800 South Street, P.O. Box 9161, Suite 500, Waltham, MA, USA, 02454-9161

Website

https://www.globalp.com

Global Partners LP is an us-based limited partnership that acts as a midstream logistics and marketing company. It is mainly engaged in purchasing, selling, storing and logistics of transporting petroleum and related products. The company owns and operates and control terminal networks of refined petroleum products and renewable fuels in Massachusetts, Maine, Connecticut, Vermont, and other places. It distributes gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, natural gas and propane to wholesalers, retailers and commercial customers. The company operates through three segments i.e. Wholesale, Gasoline Distribution and Station Operations and Commercial. It generates maximum revenue from the Wholesale segment.

Executives

Global Gp Llc	other: General Partner	800 SOUTH STREET, SUITE 500, WALTHAM MA 02453
Clare Mcgrory Kelly	director	800 SOUTH STREET, SUITE 500, WALTHAM MA 02453
Jaime Pereira	director	C/O GLOBAL PARTNERS LP, 800 SOUTH STREET, SUITE 500, WALTHAM MA 02453
John T Hailer	director	800 SOUTH STREET, SUITE 500, WALTHAM MA 02453
Robert J Mccool	director	1629 CHINABERRY WAY, NAPLES FL 34105
Robert W Owens	director
Mark Romaine	officer: Chief Operating Officer	800 SOUTH STREET, SUITE 500, WALTHAM MA 02453
Gregory B. Hanson	officer: Chief Financial Officer	C/O GLOBAL PARTNERS LP, 800 SOUTH STREET, SUITE 500, WALTHAM MA 02453
Matthew Spencer	officer: Chief Accounting Officer	C/O GLOBAL PARTNERS LP, 800 SOUTH STREET, SUITE 500, WALTHAM MA 02453
Jeremy Langhorn	officer: Chief Human Resources Officer	C/O GLOBAL PARTNERS LP, 800 SOUTH STREET, SUITE 500, WALTHAM MA 02453
Eric Slifka	director, officer: Vice Chairman, President & CEO	800 SOUTH STREET, SUITE 500, WALTHAM MA 02453
Sean T. Geary	officer: Chief Legal Officer & Sec.	800 SOUTH STREET, SUITE 500, WALTHAM MA 02453
Alfred A. Slifka 1990 Trust Under Article Ii-a	10 percent owner	C/O NUTTER MCCLENNEN & FISH LLP, 155 SEAPORT BOULEVARD, BOSTON MA 02110
Richard Slifka	director, 10 percent owner	800 SOUTH STREET, SUITE 500, WALTHAM MA 02453
David K Mckown	director	EATON VANCE MANAGEMENT, BOSTON MA 02110