AKITA Drilling Balance Sheet Health
Financial Health criteria checks 3/6
AKITA Drilling has a total shareholder equity of CA$159.3M and total debt of CA$69.6M, which brings its debt-to-equity ratio to 43.7%. Its total assets and total liabilities are CA$258.2M and CA$98.9M respectively. AKITA Drilling's EBIT is CA$6.3M making its interest coverage ratio 1.2. It has cash and short-term investments of CA$13.5M.
Key information
43.7%
Debt to equity ratio
CA$69.61m
Debt
Interest coverage ratio | 1.2x |
Cash | CA$13.51m |
Equity | CA$159.29m |
Total liabilities | CA$98.92m |
Total assets | CA$258.20m |
Recent financial health updates
No updates
Recent updates
Financial Position Analysis
Short Term Liabilities: 774's short term assets (CA$55.3M) exceed its short term liabilities (CA$22.3M).
Long Term Liabilities: 774's short term assets (CA$55.3M) do not cover its long term liabilities (CA$76.6M).
Debt to Equity History and Analysis
Debt Level: 774's net debt to equity ratio (35.2%) is considered satisfactory.
Reducing Debt: 774's debt to equity ratio has increased from 34% to 43.7% over the past 5 years.
Debt Coverage: 774's debt is well covered by operating cash flow (61.7%).
Interest Coverage: 774's interest payments on its debt are not well covered by EBIT (1.2x coverage).