Northern Nigeria Flour Mills Balance Sheet Health
Financial Health criteria checks 5/6
Northern Nigeria Flour Mills has a total shareholder equity of NGN3.1B and total debt of NGN244.1M, which brings its debt-to-equity ratio to 7.8%. Its total assets and total liabilities are NGN13.1B and NGN10.0B respectively. Northern Nigeria Flour Mills's EBIT is NGN296.5M making its interest coverage ratio 16.5. It has cash and short-term investments of NGN738.6M.
Key information
7.8%
Debt to equity ratio
₦244.12m
Debt
Interest coverage ratio | 16.5x |
Cash | ₦738.58m |
Equity | ₦3.13b |
Total liabilities | ₦9.97b |
Total assets | ₦13.10b |
Recent financial health updates
No updates
Recent updates
Financial Position Analysis
Short Term Liabilities: NNFM's short term assets (NGN9.3B) do not cover its short term liabilities (NGN9.4B).
Long Term Liabilities: NNFM's short term assets (NGN9.3B) exceed its long term liabilities (NGN538.3M).
Debt to Equity History and Analysis
Debt Level: NNFM has more cash than its total debt.
Reducing Debt: NNFM's debt to equity ratio has reduced from 182.4% to 7.8% over the past 5 years.
Debt Coverage: NNFM's debt is well covered by operating cash flow (60%).
Interest Coverage: NNFM's interest payments on its debt are well covered by EBIT (16.5x coverage).