Mitie Group Balance Sheet Health
Financial Health criteria checks 5/6
Mitie Group has a total shareholder equity of £473.7M and total debt of £147.5M, which brings its debt-to-equity ratio to 31.1%. Its total assets and total liabilities are £1.9B and £1.5B respectively. Mitie Group's EBIT is £178.4M making its interest coverage ratio 21. It has cash and short-term investments of £244.9M.
Key information
31.1%
Debt to equity ratio
UK£147.50m
Debt
| Interest coverage ratio | 21x |
| Cash | UK£244.90m |
| Equity | UK£473.70m |
| Total liabilities | UK£1.45b |
| Total assets | UK£1.93b |
Recent financial health updates
No updates
Recent updates
Financial Position Analysis
Short Term Liabilities: MITF.Y's short term assets (£1.0B) do not cover its short term liabilities (£1.1B).
Long Term Liabilities: MITF.Y's short term assets (£1.0B) exceed its long term liabilities (£327.6M).
Debt to Equity History and Analysis
Debt Level: MITF.Y has more cash than its total debt.
Reducing Debt: MITF.Y had negative shareholder equity 5 years ago, but is now positive and has therefore improved.
Debt Coverage: MITF.Y's debt is well covered by operating cash flow (134%).
Interest Coverage: MITF.Y's interest payments on its debt are well covered by EBIT (21x coverage).