Nova Cannabis Balance Sheet Health
Financial Health criteria checks 3/6
Nova Cannabis has a total shareholder equity of CA$50.8M and total debt of CA$15.0M, which brings its debt-to-equity ratio to 29.5%. Its total assets and total liabilities are CA$124.4M and CA$73.6M respectively. Nova Cannabis's EBIT is CA$10.8M making its interest coverage ratio 2.3. It has cash and short-term investments of CA$13.8M.
Key information
29.5%
Debt to equity ratio
CA$15.00m
Debt
Interest coverage ratio | 2.3x |
Cash | CA$13.81m |
Equity | CA$50.85m |
Total liabilities | CA$73.55m |
Total assets | CA$124.40m |
Recent financial health updates
Recent updates
Positive Sentiment Still Eludes Nova Cannabis Inc. (TSE:NOVC) Following 26% Share Price Slump
Apr 26Sentiment Still Eluding Nova Cannabis Inc. (TSE:NOVC)
Feb 29Nova Cannabis (TSE:NOVC) Has A Somewhat Strained Balance Sheet
Jan 24Nova Cannabis Inc.'s (TSE:NOVC) Intrinsic Value Is Potentially 86% Above Its Share Price
Dec 20A Piece Of The Puzzle Missing From Nova Cannabis Inc.'s (TSE:NOVC) Share Price
Jul 14Financial Position Analysis
Short Term Liabilities: NOVC's short term assets (CA$36.7M) exceed its short term liabilities (CA$30.0M).
Long Term Liabilities: NOVC's short term assets (CA$36.7M) do not cover its long term liabilities (CA$43.6M).
Debt to Equity History and Analysis
Debt Level: NOVC's net debt to equity ratio (2.3%) is considered satisfactory.
Reducing Debt: NOVC's debt to equity ratio has increased from 0% to 29.5% over the past 5 years.
Debt Coverage: NOVC's debt is well covered by operating cash flow (78.1%).
Interest Coverage: NOVC's interest payments on its debt are not well covered by EBIT (2.3x coverage).