SolarBank Balance Sheet Health
Financial Health criteria checks 1/6
SolarBank has a total shareholder equity of CA$63.4M and total debt of CA$57.6M, which brings its debt-to-equity ratio to 90.8%. Its total assets and total liabilities are CA$181.0M and CA$117.6M respectively. SolarBank's EBIT is CA$752.3K making its interest coverage ratio 0.4. It has cash and short-term investments of CA$15.8M.
Key information
90.8%
Debt to equity ratio
CA$57.58m
Debt
| Interest coverage ratio | 0.4x |
| Cash | CA$15.84m |
| Equity | CA$63.40m |
| Total liabilities | CA$117.60m |
| Total assets | CA$181.00m |
Recent financial health updates
No updates
Recent updates
Financial Position Analysis
Short Term Liabilities: GY2's short term assets (CA$32.8M) do not cover its short term liabilities (CA$36.1M).
Long Term Liabilities: GY2's short term assets (CA$32.8M) do not cover its long term liabilities (CA$81.5M).
Debt to Equity History and Analysis
Debt Level: GY2's net debt to equity ratio (65.8%) is considered high.
Reducing Debt: Insufficient data to determine if GY2's debt to equity ratio has reduced over the past 5 years.
Debt Coverage: GY2's debt is well covered by operating cash flow (27.7%).
Interest Coverage: GY2's interest payments on its debt are not well covered by EBIT (0.4x coverage).