Redde Northgate Balance Sheet Health
Financial Health criteria checks 3/6
Redde Northgate has a total shareholder equity of £1.0B and total debt of £619.2M, which brings its debt-to-equity ratio to 60.4%. Its total assets and total liabilities are £2.2B and £1.2B respectively. Redde Northgate's EBIT is £215.6M making its interest coverage ratio 7.3. It has cash and short-term investments of £29.6M.
Key information
60.4%
Debt to equity ratio
UK£619.24m
Debt
Interest coverage ratio | 7.3x |
Cash | UK£29.65m |
Equity | UK£1.02b |
Total liabilities | UK£1.18b |
Total assets | UK£2.21b |
Recent financial health updates
No updates
Recent updates
Financial Position Analysis
Short Term Liabilities: REDDL's short term assets (£561.1M) exceed its short term liabilities (£408.4M).
Long Term Liabilities: REDDL's short term assets (£561.1M) do not cover its long term liabilities (£774.6M).
Debt to Equity History and Analysis
Debt Level: REDDL's net debt to equity ratio (57.5%) is considered high.
Reducing Debt: REDDL's debt to equity ratio has reduced from 96.3% to 60.4% over the past 5 years.
Debt Coverage: REDDL's debt is not well covered by operating cash flow (13.5%).
Interest Coverage: REDDL's interest payments on its debt are well covered by EBIT (7.3x coverage).