INNOVATE Balance Sheet Health
Financial Health criteria checks 2/6
INNOVATE has a total shareholder equity of $-136.3M and total debt of $709.2M, which brings its debt-to-equity ratio to -520.3%. Its total assets and total liabilities are $1.0B and $1.2B respectively. INNOVATE's EBIT is $29.2M making its interest coverage ratio 0.4. It has cash and short-term investments of $80.8M.
Key information
-520.3%
Debt to equity ratio
US$709.20m
Debt
| Interest coverage ratio | 0.4x |
| Cash | US$80.80m |
| Equity | -US$136.30m |
| Total liabilities | US$1.18b |
| Total assets | US$1.04b |
Recent financial health updates
Recent updates
Innovate: Infrastructure Growth And Glacial AI Could Imply Undervaluation
Jul 06Best New Idea For 2023: Innovate
Jan 25Innovate GAAP EPS of -$0.09, revenue of $423M
Nov 02Innovate GAAP EPS of -$0.18, revenue of $392.2M
Aug 03Breaking Down Innovate's Potential
Oct 27HC2 Holdings: A Granular Assessment
Jun 27HC2 Holdings reports Q1 results
May 07These 4 Measures Indicate That HC2 Holdings (NYSE:HCHC) Is Using Debt Extensively
Apr 13
HC2 Holdings Simplification Process Could Lead To Rerate
Feb 01HC2 to sell clean energy business for $169M
Dec 31HC2's insurance segment to be acquired by Continued General
Dec 10The Independent Chairman of the Board of HC2 Holdings, Inc. (NYSE:HCHC), Avram Glazer, Just Bought 16% More Shares
Dec 10
HC2 owner acquires additional shares
Dec 09HC2 Holdings +12.6% as Chairman Glazer buys $9M in stock
Dec 03HC2 Holdings appoints CEO
Nov 30Have Insiders Sold HC2 Holdings, Inc. (NYSE:HCHC) Shares Recently?
Nov 26How Much Did HC2 Holdings'(NYSE:HCHC) Shareholders Earn From Share Price Movements Over The Last Five Years?
Nov 25HC2 Holdings, Inc. 2020 Q3 - Results - Earnings Call Presentation
Nov 10Financial Position Analysis
Short Term Liabilities: VATE has negative shareholder equity, which is a more serious situation than short term assets not covering short term liabilities.
Long Term Liabilities: VATE has negative shareholder equity, which is a more serious situation than short term assets not covering long term liabilities.
Debt to Equity History and Analysis
Debt Level: VATE has negative shareholder equity, which is a more serious situation than a high debt level.
Reducing Debt: VATE's has negative shareholder equity, so we do not need to check if its debt has reduced over time.
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: Whilst unprofitable VATE has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.
Forecast Cash Runway: VATE is unprofitable but has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by 34% per year.