Northern Nigeria Flour Mills Plc

NGSE:NNFM Stock Report

Market Cap: ₦9.6b

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 ratio16.5x
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).


Balance Sheet


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