Manufactured Housing Properties (Manufactured Housing Properties) Interest Coverage : 0.04 (As of Sep. 2023)

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What is Manufactured Housing Properties 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. Manufactured Housing Properties's Operating Income for the three months ended in Sep. 2023 was $0.09 Mil. Manufactured Housing Properties's Interest Expense for the three months ended in Sep. 2023 was $-2.37 Mil. Manufactured Housing Properties's interest coverage for the quarter that ended in Sep. 2023 was 0.04. The higher the ratio, the stronger the company's financial strength is.

Warning Sign:

Ben Graham prefers companies' interest coverage to be at least 5. Manufactured Housing Properties Incs earnings cannot cover its interest expense. If the situation continues, the company may have to issue more debt.

The historical rank and industry rank for Manufactured Housing Properties's Interest Coverage or its related term are showing as below:

MHPC' s Interest Coverage Range Over the Past 10 Years
Min: 0.01 Med: 0.29 Max: 0.77
Current: 0.01

MHPC's Interest Coverage is ranked worse than
99.93% of 1342 companies
in the Real Estate industry
Industry Median: 3.955 vs MHPC: 0.01

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

Manufactured Housing Properties Interest Coverage Historical Data

The historical data trend for Manufactured Housing Properties'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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Manufactured Housing Properties Interest Coverage Chart

Manufactured Housing Properties Annual Data

Trend

Dec11

Dec12

Dec13

Dec14

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Interest Coverage

Get a 7-Day Free Trial

0.77

0.29

0.04

Manufactured Housing Properties Quarterly Data
	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23
Interest Coverage	Get a 7-Day Free Trial															-	0.05	-	-	0.04

Competitive Comparison of Manufactured Housing Properties's Interest Coverage

For the Real Estate Services subindustry, Manufactured Housing Properties'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.

Manufactured Housing Properties's Interest Coverage Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, Manufactured Housing Properties's Interest Coverage distribution charts can be found below:

* The bar in red indicates where Manufactured Housing Properties's Interest Coverage falls into.

Manufactured Housing Properties 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.

Manufactured Housing Properties's Interest Coverage for the fiscal year that ended in Dec. 2022 is calculated as

Here, for the fiscal year that ended in Dec. 2022, Manufactured Housing Properties's Interest Expense was $-5.53 Mil. Its Operating Income was $0.24 Mil. And its Long-Term Debt & Capital Lease Obligation was $77.88 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Dec. 2022 )	/	Interest Expense (A: Dec. 2022 )
	=	-1	*	0.243	/	-5.526
	=	0.04

Manufactured Housing Properties's Interest Coverage for the quarter that ended in Sep. 2023 is calculated as

Here, for the three months ended in Sep. 2023, Manufactured Housing Properties's Interest Expense was $-2.37 Mil. Its Operating Income was $0.09 Mil. And its Long-Term Debt & Capital Lease Obligation was $88.95 Mil.

Interest Coverage	=	-1	*	Operating Income (Q: Sep. 2023 )	/	Interest Expense (Q: Sep. 2023 )
	=	-1	*	0.09	/	-2.366
	=	0.04

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

Manufactured Housing Properties (OTCPK:MHPC) 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 .

Manufactured Housing Properties Interest Coverage Related Terms

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

Manufactured Housing Properties (Manufactured Housing Properties) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » Manufactured Housing Properties Inc (OTCPK:MHPC) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

N/A

Address

136 Main Street, Pineville, NC, USA, 28134

Website

https://www.mhproperties.com

Manufactured Housing Properties Inc is a self-administered, self-managed, vertically integrated owner and operator of manufactured housing communities. It provides non-subsidized affordable housing facilities. The company earns income from leasing manufactured home sites to tenants who own their manufactured homes as well as the rental of company-owned manufactured homes to residents of the communities. Its communities are located in Georgia, North Carolina, South Carolina, and Tennessee.

Executives

Vira Turchinyak	officer: Chief Financial Officer	C/O MANUFACTURED HOUSING PROPERTIES, INC, 136 MAIN STREET, PINEVILLE NC 28134
Julia Pererva	officer: Chief Operating Officer	136 MAIN STREET, PINEVILLE NC 28134
Wardlaw John Waller Iii	director, officer: President	C/O MANUFACTURED HOUSING PROPERTIES INC., 136 MAIN STREET, PINEVILLE NC 28134
James Lambert Johnson	director	C/O MANUFACTURED HOUSING PROPERTIES INC., 136 MAIN STREET, PINEVILLE NC 28134
Chelsea Howlett Gee	officer: Vice President of Finance	C/O MANUFACTURED HOUSING PROPERTIES INC., 136 MAIN STREET, PINEVILLE NC 28134
Richard M Gee	director	C/O MANUFACTURED HOUSING PROPERTIES INC., 136 MAIN STREET, PINEVILLE NC 28134
Robert Joseph Jackson	10 percent owner	743 JETTON STREET, DAVIDSON NC 28036
Metrolina Loan Holdings, Llc	10 percent owner	C/O MANUFACTURED HOUSING PROPERTIES INC., 136 MAIN STREET, PINEVILLE NC 28134
Andrew Coatley	officer: Chief Operating Officer	C/O MANUFACTURED HOUSING PROPERTIES INC., 136 MAIN STREET, PINEVILLE NC 28134
Terry Robertson	director	C/O MANUFACTURED HOUSING PROPERTIES INC., 136 MAIN STREET, PINEVILLE NC 28134
Gvest Real Estate Capital Llc	10 percent owner	C/O MANUFACTURED HOUSING PROPERTIES INC., 136 MAIN STREET, PINEVILLE NC 28134
William Henry Carter	director	C/O MANUFACTURED HOUSING PROPERTIES INC., 136 MAIN STREET, PINEVILLE NC 28134
Adam A Martin	officer: Chief Investment Officer	C/O MANUFACTURED HOUSING PROPERTIES INC., 136 MAIN STREET, PINEVILLE NC 28134
Raymond M Gee	director, 10 percent owner, officer: Chairman and CEO	C/O MANUFACTURED HOUSING PROPERTIES INC., 136 MAIN STREET, PINEVILLE NC 28134
Michael Z Anise	director, officer: Chief Financial Officer	C/O MANUFACTURED HOUSING PROPERTIES INC., 136 MAIN STREET, PINEVILLE NC 28134