Spirit Airlines Balance Sheet Health
Financial Health criteria checks 2/6
Spirit Airlines has a total shareholder equity of $809.7M and total debt of $3.3B, which brings its debt-to-equity ratio to 403.4%. Its total assets and total liabilities are $9.6B and $8.7B respectively.
Key information
403.4%
Debt to equity ratio
US$3.27b
Debt
| Interest coverage ratio | n/a |
| Cash | US$840.08m |
| Equity | US$809.66m |
| Total liabilities | US$8.75b |
| Total assets | US$9.56b |
Recent financial health updates
Recent updates
Financial Position Analysis
Short Term Liabilities: S64's short term assets ($1.4B) do not cover its short term liabilities ($1.5B).
Long Term Liabilities: S64's short term assets ($1.4B) do not cover its long term liabilities ($7.2B).
Debt to Equity History and Analysis
Debt Level: S64's net debt to equity ratio (299.7%) is considered high.
Reducing Debt: S64's debt to equity ratio has increased from 105% to 403.4% 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: S64 has sufficient cash runway for more than a year based on its current free cash flow.
Forecast Cash Runway: S64 has sufficient cash runway for 1.9 years if free cash flow continues to reduce at historical rates of 15.8% each year.