Tourmaline Oil Balance Sheet Health
Financial Health criteria checks 5/6
Tourmaline Oil has a total shareholder equity of CA$14.1B and total debt of CA$1.4B, which brings its debt-to-equity ratio to 9.9%. Its total assets and total liabilities are CA$20.2B and CA$6.1B respectively. Tourmaline Oil's EBIT is CA$1.9B making its interest coverage ratio 33.5. It has cash and short-term investments of CA$70.0M.
Key information
9.9%
Debt to equity ratio
CA$1.40b
Debt
| Interest coverage ratio | 33.5x |
| Cash | CA$70.02m |
| Equity | CA$14.13b |
| Total liabilities | CA$6.12b |
| Total assets | CA$20.25b |
Recent financial health updates
No updates
Recent updates
Financial Position Analysis
Short Term Liabilities: 08T's short term assets (CA$1.2B) exceed its short term liabilities (CA$1.2B).
Long Term Liabilities: 08T's short term assets (CA$1.2B) do not cover its long term liabilities (CA$5.0B).
Debt to Equity History and Analysis
Debt Level: 08T's net debt to equity ratio (9.4%) is considered satisfactory.
Reducing Debt: 08T's debt to equity ratio has reduced from 22.7% to 9.9% over the past 5 years.
Debt Coverage: 08T's debt is well covered by operating cash flow (220%).
Interest Coverage: 08T's interest payments on its debt are well covered by EBIT (33.5x coverage).