Drax Group Balance Sheet Health
Financial Health criteria checks 5/6
Drax Group has a total shareholder equity of £2.2B and total debt of £1.3B, which brings its debt-to-equity ratio to 58.1%. Its total assets and total liabilities are £6.0B and £3.8B respectively. Drax Group's EBIT is £1.1B making its interest coverage ratio 11.8. It has cash and short-term investments of £262.8M.
Key information
58.1%
Debt to equity ratio
UK£1.26b
Debt
| Interest coverage ratio | 11.8x |
| Cash | UK£262.80m |
| Equity | UK£2.17b |
| Total liabilities | UK£3.84b |
| Total assets | UK£6.02b |
Recent financial health updates
No updates
Recent updates
Financial Position Analysis
Short Term Liabilities: DRXL's short term assets (£2.4B) exceed its short term liabilities (£1.9B).
Long Term Liabilities: DRXL's short term assets (£2.4B) exceed its long term liabilities (£1.9B).
Debt to Equity History and Analysis
Debt Level: DRXL's net debt to equity ratio (46%) is considered high.
Reducing Debt: DRXL's debt to equity ratio has reduced from 62.9% to 58.1% over the past 5 years.
Debt Coverage: DRXL's debt is well covered by operating cash flow (69.3%).
Interest Coverage: DRXL's interest payments on its debt are well covered by EBIT (11.8x coverage).