ALLETE Balance Sheet Health
Financial Health criteria checks 3/6
ALLETE has a total shareholder equity of $3.4B and total debt of $1.8B, which brings its debt-to-equity ratio to 52.6%. Its total assets and total liabilities are $6.7B and $3.3B respectively. ALLETE's EBIT is $181.2M making its interest coverage ratio 2.4. It has cash and short-term investments of $101.9M.
Key information
52.6%
Debt to equity ratio
US$1.79b
Debt
| Interest coverage ratio | 2.4x |
| Cash | US$101.90m |
| Equity | US$3.39b |
| Total liabilities | US$3.34b |
| Total assets | US$6.74b |
Recent financial health updates
No updates
Recent updates
Financial Position Analysis
Short Term Liabilities: AEBA's short term assets ($483.4M) exceed its short term liabilities ($334.4M).
Long Term Liabilities: AEBA's short term assets ($483.4M) do not cover its long term liabilities ($3.0B).
Debt to Equity History and Analysis
Debt Level: AEBA's net debt to equity ratio (49.6%) is considered high.
Reducing Debt: AEBA's debt to equity ratio has reduced from 73.3% to 52.6% over the past 5 years.
Debt Coverage: AEBA's debt is well covered by operating cash flow (24.2%).
Interest Coverage: AEBA's interest payments on its debt are not well covered by EBIT (2.4x coverage).