Canoe EIT Income Fund Balance Sheet Health
Financial Health criteria checks 3/6
Canoe EIT Income Fund has a total shareholder equity of CA$2.3B and total debt of CA$316.7M, which brings its debt-to-equity ratio to 13.6%. Its total assets and total liabilities are CA$2.7B and CA$338.3M respectively. Canoe EIT Income Fund's EBIT is CA$139.4M making its interest coverage ratio 8.5. It has cash and short-term investments of CA$14.8M.
Key information
13.6%
Debt to equity ratio
CA$316.65m
Debt
Interest coverage ratio | 8.5x |
Cash | CA$14.77m |
Equity | CA$2.32b |
Total liabilities | CA$338.30m |
Total assets | CA$2.66b |
Recent financial health updates
No updates
Recent updates
Financial Position Analysis
Short Term Liabilities: EIT.UN's short term assets (CA$20.8M) do not cover its short term liabilities (CA$117.6M).
Long Term Liabilities: EIT.UN's short term assets (CA$20.8M) do not cover its long term liabilities (CA$220.7M).
Debt to Equity History and Analysis
Debt Level: EIT.UN's net debt to equity ratio (13%) is considered satisfactory.
Reducing Debt: EIT.UN's debt to equity ratio has reduced from 29.4% to 13.6% over the past 5 years.
Debt Coverage: EIT.UN's operating cash flow is negative, therefore debt is not well covered.
Interest Coverage: EIT.UN's interest payments on its debt are well covered by EBIT (8.5x coverage).