AKITA Drilling Balance Sheet Health
Financial Health criteria checks 3/6
AKITA Drilling has a total shareholder equity of CA$156.0M and total debt of CA$69.5M, which brings its debt-to-equity ratio to 44.6%. Its total assets and total liabilities are CA$263.6M and CA$107.7M respectively. AKITA Drilling's EBIT is CA$13.8M making its interest coverage ratio 2.3. It has cash and short-term investments of CA$11.2M.
Key information
44.6%
Debt to equity ratio
CA$69.54m
Debt
| Interest coverage ratio | 2.3x |
| Cash | CA$11.19m |
| Equity | CA$155.96m |
| Total liabilities | CA$107.68m |
| Total assets | CA$263.64m |
Recent financial health updates
Here's Why AKITA Drilling (TSE:AKT.A) Has A Meaningful Debt Burden
Mar 05
Does AKITA Drilling (TSE:AKT.A) Have A Healthy Balance Sheet?
Jul 12Is AKITA Drilling (TSE:AKT.A) Using Too Much Debt?
Sep 23AKITA Drilling (TSE:AKT.A) Has Debt But No Earnings; Should You Worry?
Jun 15Is AKITA Drilling (TSE:AKT.A) Using Too Much Debt?
Nov 04Is AKITA Drilling (TSE:AKT.A) Weighed On By Its Debt Load?
Jul 22Recent updates
We Think That There Are Issues Underlying AKITA Drilling's (TSE:AKT.A) Earnings
Mar 31Here's Why AKITA Drilling (TSE:AKT.A) Has A Meaningful Debt Burden
Mar 05Market Cool On AKITA Drilling Ltd.'s (TSE:AKT.A) Revenues
Jan 25The Return Trends At AKITA Drilling (TSE:AKT.A) Look Promising
Nov 08Does AKITA Drilling (TSE:AKT.A) Have A Healthy Balance Sheet?
Jul 12We Think That There Are Issues Underlying AKITA Drilling's (TSE:AKT.A) Earnings
Mar 27Is AKITA Drilling (TSE:AKT.A) Using Too Much Debt?
Sep 23AKITA Drilling (TSE:AKT.A) Has Debt But No Earnings; Should You Worry?
Jun 15Is AKITA Drilling (TSE:AKT.A) Using Too Much Debt?
Nov 04Is AKITA Drilling (TSE:AKT.A) Weighed On By Its Debt Load?
Jul 22Does AKITA Drilling (TSE:AKT.A) Have A Healthy Balance Sheet?
Apr 08Is AKITA Drilling (TSE:AKT.A) Using Debt In A Risky Way?
Dec 24
Financial Position Analysis
Short Term Liabilities: AKT.A's short term assets (CA$59.1M) exceed its short term liabilities (CA$32.0M).
Long Term Liabilities: AKT.A's short term assets (CA$59.1M) do not cover its long term liabilities (CA$75.7M).
Debt to Equity History and Analysis
Debt Level: AKT.A's net debt to equity ratio (37.4%) is considered satisfactory.
Reducing Debt: AKT.A's debt to equity ratio has increased from 30.5% to 44.6% over the past 5 years.
Debt Coverage: AKT.A's debt is well covered by operating cash flow (51.1%).
Interest Coverage: AKT.A's interest payments on its debt are not well covered by EBIT (2.3x coverage).