Initiates Balance Sheet Health
Financial Health criteria checks 4/6
Initiates has a total shareholder equity of NGN1.2B and total debt of NGN819.8M, which brings its debt-to-equity ratio to 69.6%. Its total assets and total liabilities are NGN2.6B and NGN1.4B respectively. Initiates's EBIT is NGN459.5M making its interest coverage ratio 7.7. It has cash and short-term investments of NGN199.7M.
Key information
69.6%
Debt to equity ratio
₦819.82m
Debt
Interest coverage ratio | 7.7x |
Cash | ₦199.66m |
Equity | ₦1.18b |
Total liabilities | ₦1.38b |
Total assets | ₦2.56b |
Recent financial health updates
No updates
Recent updates
Financial Position Analysis
Short Term Liabilities: TIP's short term assets (NGN784.9M) exceed its short term liabilities (NGN709.4M).
Long Term Liabilities: TIP's short term assets (NGN784.9M) exceed its long term liabilities (NGN672.1M).
Debt to Equity History and Analysis
Debt Level: TIP's net debt to equity ratio (52.6%) is considered high.
Reducing Debt: TIP's debt to equity ratio has increased from 16.9% to 69.6% over the past 5 years.
Debt Coverage: TIP's debt is well covered by operating cash flow (35.7%).
Interest Coverage: TIP's interest payments on its debt are well covered by EBIT (7.7x coverage).