Solstad Offshore Balance Sheet Health
Financial Health criteria checks 3/6
Solstad Offshore has a total shareholder equity of NOK1.9B and total debt of NOK12.0B, which brings its debt-to-equity ratio to 643.7%. Its total assets and total liabilities are NOK19.5B and NOK17.7B respectively. Solstad Offshore's EBIT is NOK1.9B making its interest coverage ratio 1.3. It has cash and short-term investments of NOK512.4M.
Key information
643.7%
Debt to equity ratio
NOK 12.03b
Debt
| Interest coverage ratio | 1.3x |
| Cash | NOK 512.43m |
| Equity | NOK 1.87b |
| Total liabilities | NOK 17.67b |
| Total assets | NOK 19.54b |
Recent financial health updates
No updates
Recent updates
Financial Position Analysis
Short Term Liabilities: SZL's short term assets (NOK15.2B) do not cover its short term liabilities (NOK15.3B).
Long Term Liabilities: SZL's short term assets (NOK15.2B) exceed its long term liabilities (NOK2.4B).
Debt to Equity History and Analysis
Debt Level: SZL's net debt to equity ratio (616.3%) is considered high.
Reducing Debt: SZL had negative shareholder equity 5 years ago, but is now positive and has therefore improved.
Debt Coverage: SZL's debt is well covered by operating cash flow (22.2%).
Interest Coverage: SZL's interest payments on its debt are not well covered by EBIT (1.3x coverage).