Ningbo Ocean Shipping Balance Sheet Health
Financial Health criteria checks 6/6
Ningbo Ocean Shipping has a total shareholder equity of CN¥5.6B and total debt of CN¥665.7M, which brings its debt-to-equity ratio to 11.9%. Its total assets and total liabilities are CN¥7.6B and CN¥2.0B respectively. Ningbo Ocean Shipping's EBIT is CN¥590.4M making its interest coverage ratio -24. It has cash and short-term investments of CN¥1.2B.
Key information
11.9%
Debt to equity ratio
CN¥665.74m
Debt
Interest coverage ratio | -24x |
Cash | CN¥1.17b |
Equity | CN¥5.59b |
Total liabilities | CN¥2.00b |
Total assets | CN¥7.60b |
Financial Position Analysis
Short Term Liabilities: 601022's short term assets (CN¥2.4B) exceed its short term liabilities (CN¥1.4B).
Long Term Liabilities: 601022's short term assets (CN¥2.4B) exceed its long term liabilities (CN¥610.7M).
Debt to Equity History and Analysis
Debt Level: 601022 has more cash than its total debt.
Reducing Debt: 601022's debt to equity ratio has reduced from 61.5% to 11.9% over the past 5 years.
Debt Coverage: 601022's debt is well covered by operating cash flow (122.4%).
Interest Coverage: 601022 earns more interest than it pays, so coverage of interest payments is not a concern.