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
No updates
Recent updates
Financial Position Analysis
Short Term Liabilities: AKT.B's short term assets (CA$59.1M) exceed its short term liabilities (CA$32.0M).
Long Term Liabilities: AKT.B'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.B's net debt to equity ratio (37.4%) is considered satisfactory.
Reducing Debt: AKT.B's debt to equity ratio has increased from 30.5% to 44.6% over the past 5 years.
Debt Coverage: AKT.B's debt is well covered by operating cash flow (51.1%).
Interest Coverage: AKT.B's interest payments on its debt are not well covered by EBIT (2.3x coverage).