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 $3.2B respectively. ALLETE's EBIT is $189.8M making its interest coverage ratio 2.7. It has cash and short-term investments of $71.9M.
Key information
52.6%
Debt to equity ratio
US$1.79b
Debt
Interest coverage ratio | 2.7x |
Cash | US$71.90m |
Equity | US$3.41b |
Total liabilities | US$3.25b |
Total assets | US$6.66b |
Recent financial health updates
No updates
Recent updates
Financial Position Analysis
Short Term Liabilities: AEBA's short term assets ($468.1M) exceed its short term liabilities ($377.6M).
Long Term Liabilities: AEBA's short term assets ($468.1M) do not cover its long term liabilities ($2.9B).
Debt to Equity History and Analysis
Debt Level: AEBA's net debt to equity ratio (50.5%) is considered high.
Reducing Debt: AEBA's debt to equity ratio has reduced from 68.9% to 52.6% over the past 5 years.
Debt Coverage: AEBA's debt is well covered by operating cash flow (32.7%).
Interest Coverage: AEBA's interest payments on its debt are not well covered by EBIT (2.7x coverage).