Formation Minerals Balance Sheet Health
Financial Health criteria checks 4/6
Formation Minerals has a total shareholder equity of $285.8K and total debt of $145.7K, which brings its debt-to-equity ratio to 51%. Its total assets and total liabilities are $1.9M and $1.6M respectively.
Key information
51.0%
Debt to equity ratio
US$145.67k
Debt
Interest coverage ratio | n/a |
Cash | US$11.56k |
Equity | US$285.78k |
Total liabilities | US$1.60m |
Total assets | US$1.88m |
Recent financial health updates
Recent updates
Financial Position Analysis
Short Term Liabilities: FOMI's short term assets ($104.4K) do not cover its short term liabilities ($1.6M).
Long Term Liabilities: FOMI has no long term liabilities.
Debt to Equity History and Analysis
Debt Level: FOMI's net debt to equity ratio (46.9%) is considered high.
Reducing Debt: FOMI 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: FOMI has sufficient cash runway for 0 months based on last reported free cash flow, but has since raised additional capital.
Forecast Cash Runway: FOMI is forecast to have sufficient cash runway for 0 months based on free cash flow estimates, but has since raised additional capital.