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 |
Recent financial health updates
Ningbo Ocean Shipping (SHSE:601022) Takes On Some Risk With Its Use Of Debt
Aug 20
Is Ningbo Ocean Shipping (SHSE:601022) Using Too Much Debt?
Feb 26Recent updates
Ningbo Ocean Shipping (SHSE:601022) Takes On Some Risk With Its Use Of Debt
Aug 20Some Investors May Be Worried About Ningbo Ocean Shipping's (SHSE:601022) Returns On Capital
Jun 03Ningbo Ocean Shipping's (SHSE:601022) Weak Earnings May Only Reveal A Part Of The Whole Picture
Apr 02Is Ningbo Ocean Shipping (SHSE:601022) Using Too Much Debt?
Feb 26Financial 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.