Worksport Balance Sheet Health
Financial Health criteria checks 6/6
Worksport has a total shareholder equity of $18.2M and total debt of $5.3M, which brings its debt-to-equity ratio to 29.2%. Its total assets and total liabilities are $26.0M and $7.8M respectively.
Key information
29.2%
Debt to equity ratio
US$5.30m
Debt
| Interest coverage ratio | n/a |
| Cash | US$4.86m |
| Equity | US$18.18m |
| Total liabilities | US$7.78m |
| Total assets | US$25.95m |
Recent financial health updates
Health Check: How Prudently Does Worksport (NASDAQ:WKSP) Use Debt?
Sep 27
Is Worksport (NASDAQ:WKSP) Using Debt Sensibly?
May 11Recent updates
Health Check: How Prudently Does Worksport (NASDAQ:WKSP) Use Debt?
Sep 27Is Worksport (NASDAQ:WKSP) Using Debt Sensibly?
May 11Worksport expects $350K-$450K revenue from pre-order sales of SOLIS, COR
Aug 18An Intrinsic Calculation For Worksport Ltd. (NASDAQ:WKSP) Suggests It's 45% Undervalued
Feb 16Calculating The Intrinsic Value Of Worksport Ltd. (NASDAQ:WKSP)
Oct 28Financial Position Analysis
Short Term Liabilities: WKSP's short term assets ($9.1M) exceed its short term liabilities ($7.2M).
Long Term Liabilities: WKSP's short term assets ($9.1M) exceed its long term liabilities ($608.8K).
Debt to Equity History and Analysis
Debt Level: WKSP's net debt to equity ratio (2.4%) is considered satisfactory.
Reducing Debt: WKSP had negative shareholder equity 5 years ago, but is now positive and has therefore improved.
Balance Sheet
Cash Runway Analysis
For companies that have on average been loss-making in the past, we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: WKSP has sufficient cash runway for 4 months based on last reported free cash flow, but has since raised additional capital.
Forecast Cash Runway: WKSP is forecast to have sufficient cash runway for 2 months based on free cash flow estimates, but has since raised additional capital.