Cleantek Industries Balance Sheet Health
Financial Health criteria checks 2/6
Cleantek Industries has a total shareholder equity of CA$401.0K and total debt of CA$10.6M, which brings its debt-to-equity ratio to 2643.1%. Its total assets and total liabilities are CA$15.3M and CA$14.9M respectively. Cleantek Industries's EBIT is CA$720.0K making its interest coverage ratio 0.4. It has cash and short-term investments of CA$600.0K.
Key information
2,643.1%
Debt to equity ratio
CA$10.60m
Debt
| Interest coverage ratio | 0.4x |
| Cash | CA$600.00k |
| Equity | CA$401.00k |
| Total liabilities | CA$14.86m |
| Total assets | CA$15.26m |
Financial Position Analysis
Short Term Liabilities: CTEK's short term assets (CA$3.4M) do not cover its short term liabilities (CA$6.3M).
Long Term Liabilities: CTEK's short term assets (CA$3.4M) do not cover its long term liabilities (CA$8.5M).
Debt to Equity History and Analysis
Debt Level: CTEK's net debt to equity ratio (2493.5%) is considered high.
Reducing Debt: CTEK's debt to equity ratio has increased from 160.5% to 2643.1% over the past 5 years.
Balance Sheet
Cash Runway Analysis
For companies that have on average been loss-making in the past, we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: Whilst unprofitable CTEK has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.
Forecast Cash Runway: CTEK is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 29.6% per year.