Spirit Airlines Balance Sheet Health
Financial Health criteria checks 1/6
Spirit Airlines has a total shareholder equity of $503.7M and total debt of $3.2B, which brings its debt-to-equity ratio to 643.2%. Its total assets and total liabilities are $9.5B and $9.0B respectively.
Key information
643.2%
Debt to equity ratio
US$3.24b
Debt
| Interest coverage ratio | n/a |
| Cash | US$540.65m |
| Equity | US$503.75m |
| Total liabilities | US$8.99b |
| Total assets | US$9.49b |
Recent financial health updates
Recent updates
Financial Position Analysis
Short Term Liabilities: 0L8U's short term assets ($1.2B) do not cover its short term liabilities ($2.5B).
Long Term Liabilities: 0L8U's short term assets ($1.2B) do not cover its long term liabilities ($6.4B).
Debt to Equity History and Analysis
Debt Level: 0L8U's net debt to equity ratio (535.9%) is considered high.
Reducing Debt: 0L8U's debt to equity ratio has increased from 99.1% to 643.2% 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: 0L8U has less than a year of cash runway based on its current free cash flow.
Forecast Cash Runway: 0L8U has sufficient cash runway for 1.2 years if free cash flow continues to reduce at historical rates of 22.1% each year.