Zhejiang Xinao Textiles Balance Sheet Health
Financial Health criteria checks 5/6
Zhejiang Xinao Textiles has a total shareholder equity of CN¥3.4B and total debt of CN¥1.4B, which brings its debt-to-equity ratio to 41.3%. Its total assets and total liabilities are CN¥5.5B and CN¥2.1B respectively. Zhejiang Xinao Textiles's EBIT is CN¥482.3M making its interest coverage ratio 42.1. It has cash and short-term investments of CN¥790.4M.
Key information
41.3%
Debt to equity ratio
CN¥1.40b
Debt
| Interest coverage ratio | 42.1x |
| Cash | CN¥790.44m |
| Equity | CN¥3.40b |
| Total liabilities | CN¥2.14b |
| Total assets | CN¥5.54b |
Recent financial health updates
No updates
Financial Position Analysis
Short Term Liabilities: 603889's short term assets (CN¥3.4B) exceed its short term liabilities (CN¥1.6B).
Long Term Liabilities: 603889's short term assets (CN¥3.4B) exceed its long term liabilities (CN¥549.7M).
Debt to Equity History and Analysis
Debt Level: 603889's net debt to equity ratio (18%) is considered satisfactory.
Reducing Debt: 603889's debt to equity ratio has increased from 17.3% to 41.3% over the past 5 years.
Debt Coverage: 603889's debt is well covered by operating cash flow (37.8%).
Interest Coverage: 603889's interest payments on its debt are well covered by EBIT (42.1x coverage).