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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. The Scotts Miracle Gro Co's Operating Income for the three months ended in Jun. 2024 was $199 Mil. The Scotts Miracle Gro Co's Interest Expense for the three months ended in Jun. 2024 was $-39 Mil. The Scotts Miracle Gro Co's interest coverage for the quarter that ended in Jun. 2024 was 5.14. The higher the ratio, the stronger the company's financial strength is.
The historical rank and industry rank for The Scotts Miracle Gro Co'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 The Scotts Miracle Gro Co'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.
The Scotts Miracle Gro Co Annual Data | |||||||||||||||||||||
Trend | Sep14 | Sep15 | Sep16 | Sep17 | Sep18 | Sep19 | Sep20 | Sep21 | Sep22 | Sep23 | |||||||||||
Interest Coverage | Get a 7-Day Free Trial | 4.11 | 7.36 | 9.22 | 2.19 | 0.60 |
The Scotts Miracle Gro Co Quarterly Data | ||||||||||||||||||||
Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | Jun24 | |
Interest Coverage | Get a 7-Day Free Trial | 1.68 | - | - | 6.22 | 5.14 |
For the Agricultural Inputs subindustry, The Scotts Miracle Gro Co'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 Agriculture industry and Basic Materials sector, The Scotts Miracle Gro Co's Interest Coverage distribution charts can be found below:
* The bar in red indicates where The Scotts Miracle Gro Co'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.
The Scotts Miracle Gro Co's Interest Coverage for the fiscal year that ended in Sep. 2023 is calculated as
Here, for the fiscal year that ended in Sep. 2023, The Scotts Miracle Gro Co's Interest Expense was $-178 Mil. Its Operating Income was $106 Mil. And its Long-Term Debt & Capital Lease Obligation was $2,778 Mil.
Interest Coverage | = | -1 | * | Operating Income (A: Sep. 2023 ) | / | Interest Expense (A: Sep. 2023 ) |
= | -1 | * | 106.1 | / | -178.1 | |
= | 0.60 |
The Scotts Miracle Gro Co's Interest Coverage for the quarter that ended in Jun. 2024 is calculated as
Here, for the three months ended in Jun. 2024, The Scotts Miracle Gro Co's Interest Expense was $-39 Mil. Its Operating Income was $199 Mil. And its Long-Term Debt & Capital Lease Obligation was $2,436 Mil.
Interest Coverage | = | -1 | * | Operating Income (Q: Jun. 2024 ) | / | Interest Expense (Q: Jun. 2024 ) |
= | -1 | * | 199.3 | / | -38.8 | |
= | 5.14 |
* 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.
The Scotts Miracle Gro Co (NYSE:SMG) 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 The Scotts Miracle Gro Co's Interest Coverage provided by GuruFocus.com. Please click on the following links to see related term pages.
Nathan Eric Baxter | 10 percent owner | C/O HAGEDORN PARTNERSHIP, L.P., 800 PORT WASHINGTON BOULEVARD, PORT WASHINGTON NY 11050 |
Hagedorn Partnerships L P | 10 percent owner | SCOTTS MIRACLE-GRO PRODUCTS INC, 800 PORT WASHINGTON BLVD, PORT WASHINGTON NY 11050 |
Stephen L Johnson | director | 14111 SCOTTSLAWN ROAD, MARYSVILLE OH 43041 |
Nancy G. Mistretta | director | 14111 SCOTTSLAWN ROAD, MARYSVILLE OH 43041 |
Kelly Thomas N Jr | director | C/O THE SCOTTS MIRACLE-GRO COMPANY, 14111 SCOTTSLAWN ROAD, MARYSVILLE OH 43041 |
James Hagedorn | director, 10 percent owner, officer: President and CEO | C/O SCOTTS CO, 14111 SCOTTSLAWN ROAD, MARYSVILLE OH 43041 |
Julie Demuesy | officer: SVP, CHIEF HUMAN RESOURCES | 14111 SCOTTSLAWN RD, MARYSVILLE OH 43041 |
Mark D Kingdon | director | 14111 SCOTTSLAWN RD, MARYSVILLE OH 43041 |
Edith Aviles | director | 14111 SCOTTSLAWN ROAD, MARYSVILLE OH 43041 |
Dimiter Todorov | officer: EVP, GC & CORPORATE SECRETARY | 14111 SCOTTSLAWN RD, MARYSVILLE OH 43041 |
Matthew E Garth | officer: EVP & CFO | 622 THIRD AVENUE, 38TH FLOOR, NEW YORK NY 10017 |
David C Evans | officer: EVP and CFO | C/O THE SCOTTS MIRACLE-GRO COMPANY, 14111 SCOTTSLAWN ROAD, MARYSVILLE OH 43041 |
Peter E Shumlin | director | 14111 SCOTTSLAWN ROAD, MARYSVILLE OH 43041 |
Brian E Sandoval | director | 14111 SCOTTSLAWN ROAD, MARYSVILLE OH 43041 |
James D King | officer: EVP and CCO | 14111 SCOTTSLAWN RD, MARYSVILLE OH 43041 |
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