CITIC Heavy Industries Balance Sheet Health
Financial Health criteria checks 6/6
CITIC Heavy Industries has a total shareholder equity of CN¥8.3B and total debt of CN¥1.9B, which brings its debt-to-equity ratio to 22.6%. Its total assets and total liabilities are CN¥18.1B and CN¥9.8B respectively. CITIC Heavy Industries's EBIT is CN¥321.9M making its interest coverage ratio -12.6. It has cash and short-term investments of CN¥1.1B.
Key information
22.6%
Debt to equity ratio
CN¥1.88b
Debt
Interest coverage ratio | -12.6x |
Cash | CN¥1.10b |
Equity | CN¥8.31b |
Total liabilities | CN¥9.81b |
Total assets | CN¥18.13b |
Financial Position Analysis
Short Term Liabilities: 601608's short term assets (CN¥10.6B) exceed its short term liabilities (CN¥8.0B).
Long Term Liabilities: 601608's short term assets (CN¥10.6B) exceed its long term liabilities (CN¥1.8B).
Debt to Equity History and Analysis
Debt Level: 601608's net debt to equity ratio (9.4%) is considered satisfactory.
Reducing Debt: 601608's debt to equity ratio has reduced from 89.9% to 22.6% over the past 5 years.
Debt Coverage: 601608's debt is well covered by operating cash flow (72.2%).
Interest Coverage: 601608 earns more interest than it pays, so coverage of interest payments is not a concern.