Covetrus Balance Sheet Health
Financial Health criteria checks 4/6
Covetrus has a total shareholder equity of $1.5B and total debt of $1.0B, which brings its debt-to-equity ratio to 68.7%. Its total assets and total liabilities are $3.4B and $1.9B respectively. Covetrus's EBIT is $8.0M making its interest coverage ratio 0.3. It has cash and short-term investments of $87.0M.
Key information
68.7%
Debt to equity ratio
US$1.05b
Debt
| Interest coverage ratio | 0.3x |
| Cash | US$87.00m |
| Equity | US$1.53b |
| Total liabilities | US$1.87b |
| Total assets | US$3.40b |
Recent financial health updates
Recent updates
Financial Position Analysis
Short Term Liabilities: 2NJ's short term assets ($1.4B) exceed its short term liabilities ($733.0M).
Long Term Liabilities: 2NJ's short term assets ($1.4B) exceed its long term liabilities ($1.1B).
Debt to Equity History and Analysis
Debt Level: 2NJ's net debt to equity ratio (63%) is considered high.
Reducing Debt: 2NJ's debt to equity ratio has increased from 1.7% to 68.7% over the past 5 years.
Balance Sheet
Cash Runway Analysis
For companies that have on average been loss-making in the past, we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: Whilst unprofitable 2NJ has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.
Forecast Cash Runway: 2NJ is unprofitable but has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by 28.6% per year.