Mobile Mini (Mobile Mini) Interest Coverage : 2.61 (As of Mar. 2020)

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What is Mobile Mini 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. Mobile Mini's Operating Income for the three months ended in Mar. 2020 was $24.2 Mil. Mobile Mini's Interest Expense for the three months ended in Mar. 2020 was $-9.3 Mil. Mobile Mini's interest coverage for the quarter that ended in Mar. 2020 was 2.61. The higher the ratio, the stronger the company's financial strength is.

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

MINI's Interest Coverage is not ranked ^*
in the Business Services industry.
Industry Median: 13.44
* Ranked among companies with meaningful Interest Coverage only.

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

Mobile Mini Interest Coverage Historical Data

The historical data trend for Mobile Mini'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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Mobile Mini Interest Coverage Chart

Mobile Mini Annual Data

Trend

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Interest Coverage

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3.47

3.64

3.16

3.41

3.72

Mobile Mini Quarterly Data
	Jun15	Sep15	Dec15	Mar16	Jun16	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20
Interest Coverage	Get a 7-Day Free Trial															3.30	2.95	3.83	4.91	2.61

Competitive Comparison of Mobile Mini's Interest Coverage

For the Rental & Leasing Services subindustry, Mobile Mini'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.

Mobile Mini's Interest Coverage Distribution in the Business Services Industry

For the Business Services industry and Industrials sector, Mobile Mini's Interest Coverage distribution charts can be found below:

* The bar in red indicates where Mobile Mini's Interest Coverage falls into.

Mobile Mini 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.

Mobile Mini's Interest Coverage for the fiscal year that ended in Dec. 2019 is calculated as

Here, for the fiscal year that ended in Dec. 2019, Mobile Mini's Interest Expense was $-41.4 Mil. Its Operating Income was $153.8 Mil. And its Long-Term Debt & Capital Lease Obligation was $971.9 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Dec. 2019 )	/	Interest Expense (A: Dec. 2019 )
	=	-1	*	153.842	/	-41.378
	=	3.72

Mobile Mini's Interest Coverage for the quarter that ended in Mar. 2020 is calculated as

Here, for the three months ended in Mar. 2020, Mobile Mini's Interest Expense was $-9.3 Mil. Its Operating Income was $24.2 Mil. And its Long-Term Debt & Capital Lease Obligation was $973.8 Mil.

Interest Coverage	=	-1	*	Operating Income (Q: Mar. 2020 )	/	Interest Expense (Q: Mar. 2020 )
	=	-1	*	24.188	/	-9.257
	=	2.61

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

Mobile Mini (NAS:MINI) 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 .

Mobile Mini Interest Coverage Related Terms

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

Mobile Mini (Mobile Mini) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Business Services » Mobile Mini Inc (NAS:MINI) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

N/A

Address

4646 East Van Buren Street, Suite 400, Phoenix, AZ, USA, 85008

Website

https://www.mobilemini.com

Mobile Mini Inc manufactures, rents, and sells portable storage containers. It generates the vast majority of its revenue from the rental of storage containers. The company's products are organized into two primary categories. Portable storage containers are dropped off at a customers' location by Mobile Mini and used by businesses in the retail, manufacturing, and construction industries. Tank and Pump Solutions consists of liquid and solid containers, as well as pumps and filtration equipment used by companies in the chemicals manufacturing, refining, mining, and the oil and gas industries. The company organizes itself into three segments based on geography: North America, United Kingdom, and Tank and Pump Solutions. The majority of revenue comes from the North America segment.

Executives

Kelly M Williams	officer: President & C.E.O.	7420 S. KYRENE ROAD, SUITE 101, TEMPE AZ 85283
Michael W Upchurch	director	KANSAS CITY SOUTHERN, PO BOX 219335, KANSAS CITY MO 64121
Jeffrey S Goble	director	10617 NORTH HAYDEN ROAD SUITE 100, SCOTTSDALE AZ 85260
Christopher J Miner	officer: Senior VP & General Counsel	7420 SOUTH KYRENE ROAD SUITE 101, TEMPE AZ 85253
Erik Olsson	director	C/O RSC HOLDINGS INC., 6929 E. GREENWAY PARKWAY, SCOTTSDALE AZ 85254
Kimberly J Mcwaters	director	20410 NORTH 19TH AVENUE, PHOENIX AZ 85027
Mark W Krivoruchka	officer: S.V.P. and Chief H.R. Officer	RSC HOLDINGS INC. 6929 EAST GREENWAY PARKWAY, SUITE 200 SCOTTSDALE AZ 85254
James J Martell	director	314 RINGLING POINT DRIVE, SARASOTA FL 34234
Sara R. Dial	director	3300 W. CAMELBACK ROAD, SCOTTSDALE AZ 85017
Stephen A Mcconnell	director	6700 EAST SOLANO DRIVE, PARADISE VALLEY AZ 85253
Sanjay Swani	director	320 PARK AVENUE STE 2500, NEW YORK NY 10022
Philip Hobson	officer: Executive V.P., Operations	C/O RSC HOLDINGS INC., 6929 E. GREENWAY PARKWAY, SCOTTSDALE AZ 85254
Thomas Scully	10 percent owner	320 PARK AVENUE, SUITE # 2500, NEW YORK NM 10022
Wcas Management Corp	10 percent owner	599 LEXINGTON AVENUE, SUITE 1800, NEW YORK NY 10022
Anthony F Ecock	10 percent owner	C/O ICAD INC, 98 SPIT BROOK ROAD SUITE 100, NASHUA NH 03062