Mermaid Maritime Balance Sheet Health

Financial Health criteria checks 3/6

Mermaid Maritime has a total shareholder equity of THB5.8B and total debt of THB2.8B, which brings its debt-to-equity ratio to 47.6%. Its total assets and total liabilities are THB12.2B and THB6.4B respectively. Mermaid Maritime's EBIT is THB486.4M making its interest coverage ratio 2.6. It has cash and short-term investments of THB1.0B.

Key information

47.6%

Debt to equity ratio

฿2.78b

Debt

Interest coverage ratio	2.6x
Cash	฿1.04b
Equity	฿5.84b
Total liabilities	฿6.36b
Total assets	฿12.20b

Recent financial health updates

These 4 Measures Indicate That Mermaid Maritime (SGX:DU4) Is Using Debt Extensively

Jan 23

Recent updates

Many Still Looking Away From Mermaid Maritime Public Company Limited (SGX:DU4)

Apr 01

These 4 Measures Indicate That Mermaid Maritime (SGX:DU4) Is Using Debt Extensively

Jan 23

Mermaid Maritime (SGX:DU4) Takes On Some Risk With Its Use Of Debt

Aug 18

We Think Mermaid Maritime (SGX:DU4) Has A Fair Chunk Of Debt

Jul 25

Does Mermaid Maritime (SGX:DU4) Have A Healthy Balance Sheet?

Mar 03

We Think Mermaid Maritime (SGX:DU4) Has A Fair Chunk Of Debt

Aug 19

Is Mermaid Maritime (SGX:DU4) Using Too Much Debt?

Apr 06

A Look At Mermaid Maritime's (SGX:DU4) Share Price Returns

Feb 12

Mermaid Maritime (SGX:DU4) Is Carrying A Fair Bit Of Debt

Dec 21

Financial Position Analysis

Short Term Liabilities: DU4's short term assets (THB5.0B) exceed its short term liabilities (THB4.7B).

Long Term Liabilities: DU4's short term assets (THB5.0B) exceed its long term liabilities (THB1.6B).

Debt to Equity History and Analysis

Debt Level: DU4's net debt to equity ratio (29.9%) is considered satisfactory.

Reducing Debt: DU4's debt to equity ratio has increased from 21.5% to 47.6% over the past 5 years.

Debt Coverage: DU4's debt is not well covered by operating cash flow (12.3%).

Interest Coverage: DU4's interest payments on its debt are not well covered by EBIT (2.6x coverage).

Mermaid Maritime Balance Sheet Health

Financial Health criteria checks 3/6

Key information

Recent financial health updates

These 4 Measures Indicate That Mermaid Maritime (SGX:DU4) Is Using Debt Extensively

Mermaid Maritime (SGX:DU4) Takes On Some Risk With Its Use Of Debt

We Think Mermaid Maritime (SGX:DU4) Has A Fair Chunk Of Debt

Does Mermaid Maritime (SGX:DU4) Have A Healthy Balance Sheet?

We Think Mermaid Maritime (SGX:DU4) Has A Fair Chunk Of Debt

Is Mermaid Maritime (SGX:DU4) Using Too Much Debt?

Recent updates

Mermaid Maritime Public Company Limited Announces Cessation of Jan Jozef Skorupa as Non-Executive and Independent Director, Chairman of Nomination Committee, and Member of Audit Committee and Remuneration Committee, Effective 25 April 2024

Many Still Looking Away From Mermaid Maritime Public Company Limited (SGX:DU4)

Mermaid Maritime Public Company Limited, Annual General Meeting, Apr 25, 2024

These 4 Measures Indicate That Mermaid Maritime (SGX:DU4) Is Using Debt Extensively

Third quarter 2023 earnings released: EPS: US$0.005 (vs US$0.002 in 3Q 2022)

New minor risk - Share price stability

Mermaid Maritime (SGX:DU4) Takes On Some Risk With Its Use Of Debt

Second quarter 2023 earnings released: EPS: ฿0.078 (vs ฿0.055 in 2Q 2022)

First quarter 2023 earnings released: ฿0.012 loss per share (vs ฿0.18 loss in 1Q 2022)

Full year 2022 earnings released: EPS: ฿0.01 (vs ฿0.36 loss in FY 2021)

Third quarter 2022 earnings released: EPS: ฿0.075 (vs ฿0.097 loss in 3Q 2021)

Less than half of directors are independent

Second quarter 2022 earnings released: EPS: US$0.002 (vs US$0.002 loss in 2Q 2021)

We Think Mermaid Maritime (SGX:DU4) Has A Fair Chunk Of Debt

Mermaid Maritime Public Company Limited Announces Cessation of Kanes Supyaboonrod as Company Secretary

Less than half of directors are independent

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Does Mermaid Maritime (SGX:DU4) Have A Healthy Balance Sheet?

Mermaid Maritime Public Company Limited Announces Management Changes

Third quarter 2021 earnings released: ฿0.097 loss per share (vs ฿1.87 loss in 3Q 2020)

We Think Mermaid Maritime (SGX:DU4) Has A Fair Chunk Of Debt

Non-Executive Director Jitender Verma has left the company

First quarter 2021 earnings released: ฿0.088 loss per share (vs ฿0.22 loss in 1Q 2020)

Is Mermaid Maritime (SGX:DU4) Using Too Much Debt?

Full year 2020 earnings released: ฿2.43 loss per share (vs ฿0.53 loss in FY 2019)

Mermaid Maritime Public Company Limited, Annual General Meeting, Apr 07, 2021

A Look At Mermaid Maritime's (SGX:DU4) Share Price Returns

Mermaid Maritime (SGX:DU4) Is Carrying A Fair Bit Of Debt

Third quarter 2020 earnings released: ฿1.87 loss per share

Seadrill Rig Holding Company Limited completed the acquisition of remaining 33.7% stake in Asia Offshore Drilling Limited from Mermaid Maritime Public Company Limited (SGX:DU4).

First half earnings released

Financial Position Analysis

Debt to Equity History and Analysis

Balance Sheet

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