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Summit Midstream Balance Sheet Health
Financial Health criteria checks 1/6
Summit Midstream has a total shareholder equity of $975.4M and total debt of $1.2B, which brings its debt-to-equity ratio to 118.6%. Its total assets and total liabilities are $2.3B and $1.3B respectively. Summit Midstream's EBIT is $84.0M making its interest coverage ratio 0.6. It has cash and short-term investments of $344.6M.
Key information
118.6%
Debt to equity ratio
US$1.16b
Debt
| Interest coverage ratio | 0.6x |
| Cash | US$344.59m |
| Equity | US$975.41m |
| Total liabilities | US$1.35b |
| Total assets | US$2.32b |
Recent financial health updates
Recent updates
Summit Midstream Partners: There Is A Lot Of Value Left To Capture
Jul 25Summit Midstream Partners Shows Its Continued Dedication To Shareholders
Jul 16Summit Midstream Partners: The Market Has Yet To Understand Its Recent Success
Apr 09Summit Midstream Partners: Potential For Strong Performance, If It Can Survive
Mar 18Summit Midstream Partners Needs To Account For Rising Rates
Nov 14Summit Midstream Partners' Recent Earnings Are Just The Start
Oct 09Summit Midstream Partners Is Risky
Sep 29Summit Midstream Partners: Can It Survive Low Utilization?
Jun 06Summit Midstream Partners GAAP EPS of -$3.03, revenue of $85.72M, introduces FY23 outlook
Feb 24Summit Midstream Partners Is Playing With Fire
Jan 11Summit Midstream Partners: Lofty Goals For 2023
Dec 27Summit Midstream Partners: Trying To Spend Their Way Out Of Overleverage
Oct 18Summit Midstream: Arguably A $25+ Stock, Yet Trading In The Low $16s
Aug 11Summit Midstream Partners: Common Unitholders Getting Squeezed Out
Jul 06Summit Midstream Partners: Keep Trusting Management
May 06Whoops! The Market Forgot About Summit Midstream Partners
Mar 31Legacy Ridge Capital - Summit Midstream Partners: Lots Of Potential Upside
Mar 18Summit Midstream: A Granular Look At Its (Super) Conservative FY 2022 Guidance
Mar 08Summit Midstream Partners Deserves More From The Market
Dec 21Summit Midstream Partners' Debt Offering Points Towards Survival
Nov 05Summit Midstream: With The Refinancing Completed, This Is A Good Way To Play Natural Gas
Oct 21Summit Midstream Partners Is Well On The Road To Recovery
Sep 03Summit Midstream Partners: A Wager On The Credit Markets' Appetite For Risk
Jul 05Summit Midstream Partners raises full-year adjusted EBITDA forecast
Jun 21Summit Midstream Partners EPS beats by $0.09, beats on revenue
May 07Financial Position Analysis
Short Term Liabilities: SMLP's short term assets ($420.6M) exceed its short term liabilities ($159.5M).
Long Term Liabilities: SMLP's short term assets ($420.6M) do not cover its long term liabilities ($1.2B).
Debt to Equity History and Analysis
Debt Level: SMLP's net debt to equity ratio (83.2%) is considered high.
Reducing Debt: SMLP's debt to equity ratio has increased from 107.6% to 118.6% over the past 5 years.
Debt Coverage: SMLP's debt is not well covered by operating cash flow (10.4%).
Interest Coverage: SMLP's interest payments on its debt are not well covered by EBIT (0.6x coverage).
Balance Sheet
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2024/08/02 07:08 |
| End of Day Share Price | 2024/07/31 00:00 |
| Earnings | 2024/03/31 |
| Annual Earnings | 2023/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
Analysis Model and Snowflake
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Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .
Analyst Sources
Summit Midstream Corporation is covered by 15 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Ethan Bellamy | Baird |
| Heejung Ryoo | Barclays |
| Gabriel Moreen | BofA Global Research |