Worksport Balance Sheet Health
Financial Health criteria checks 5/6
Worksport has a total shareholder equity of $19.1M and total debt of $5.3M, which brings its debt-to-equity ratio to 27.7%. Its total assets and total liabilities are $27.2M and $8.0M respectively.
Key information
27.7%
Debt to equity ratio
US$5.30m
Debt
| Interest coverage ratio | n/a |
| Cash | US$3.52m |
| Equity | US$19.15m |
| Total liabilities | US$8.04m |
| Total assets | US$27.19m |
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 ($10.7M) exceed its short term liabilities ($2.3M).
Long Term Liabilities: WKSP's short term assets ($10.7M) exceed its long term liabilities ($5.8M).
Debt to Equity History and Analysis
Debt Level: WKSP's net debt to equity ratio (9.3%) 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 3 months based on last reported free cash flow, but has since raised additional capital.
Forecast Cash Runway: Insufficient data to determine if WKSP has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.