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Covetrus Balance Sheet Health
Financial Health criteria checks 4/6
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.