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Nova Cannabis Balance Sheet Health
Financial Health criteria checks 4/6
Nova Cannabis has a total shareholder equity of CA$57.6M and total debt of CA$12.2M, which brings its debt-to-equity ratio to 21.1%. Its total assets and total liabilities are CA$132.0M and CA$74.3M respectively. Nova Cannabis's EBIT is CA$11.8M making its interest coverage ratio 2.5. It has cash and short-term investments of CA$11.2M.
Key information
21.1%
Debt to equity ratio
CA$12.17m
Debt
| Interest coverage ratio | 2.5x |
| Cash | CA$11.16m |
| Equity | CA$57.64m |
| Total liabilities | CA$74.34m |
| Total assets | CA$131.98m |
Recent financial health updates
Recent updates
Positive Sentiment Still Eludes Nova Cannabis Inc. (TSE:NOVC) Following 26% Share Price Slump
Apr 26
Sentiment 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$39.6M) exceed its short term liabilities (CA$20.2M).
Long Term Liabilities: NOVC's short term assets (CA$39.6M) do not cover its long term liabilities (CA$54.2M).
Debt to Equity History and Analysis
Debt Level: NOVC's net debt to equity ratio (1.8%) is considered satisfactory.
Reducing Debt: NOVC had negative shareholder equity 5 years ago, but is now positive and has therefore improved.
Debt Coverage: NOVC's debt is well covered by operating cash flow (122.2%).
Interest Coverage: NOVC's interest payments on its debt are not well covered by EBIT (2.5x coverage).