GOIL Balance Sheet Health

Financial Health criteria checks 2/6

GOIL has a total shareholder equity of GHS859.3M and total debt of GHS472.3M, which brings its debt-to-equity ratio to 55%. Its total assets and total liabilities are GHS3.9B and GHS3.1B respectively. GOIL's EBIT is GHS187.4M making its interest coverage ratio 2.1. It has cash and short-term investments of GHS187.6M.

Key information


Debt to equity ratio



Interest coverage ratio2.1x
Total liabilitiesGH₵3.07b
Total assetsGH₵3.93b

Recent financial health updates

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Recent updates

Financial Position Analysis

Short Term Liabilities: GOIL's short term assets (GHS2.3B) do not cover its short term liabilities (GHS3.0B).

Long Term Liabilities: GOIL's short term assets (GHS2.3B) exceed its long term liabilities (GHS20.9M).

Debt to Equity History and Analysis

Debt Level: GOIL's net debt to equity ratio (33.1%) is considered satisfactory.

Reducing Debt: GOIL's debt to equity ratio has increased from 26.7% to 55% over the past 5 years.

Debt Coverage: GOIL's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: GOIL's interest payments on its debt are not well covered by EBIT (2.1x coverage).

Balance Sheet

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