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Turquoise Hill Resources Balance Sheet Health

Financial Health criteria checks 2/6

Key information

42.55%

Debt to equity ratio

US$4.13b

Debt

Interest coverage ratio	-85883.3x
Cash	US$209.25m
Equity	US$9.71b
Total liabilities	US$5.06b
Total assets	US$14.77b

Recent financial health updates

No updates

Recent updates

Turquoise Hill Resources gains as holder Pentwater buys more shares amid Rio Tinto deal

Oct 26

Turquoise Hill reports Q3 copper production of 36.3K tons, down 13% Y/Y; reaffirms FY22 copper production guidance

Oct 18

Turquoise Hill receives interim court order for proposed arrangement with Rio Tinto

Sep 30

Rio Tinto to acquire remainder of Turquoise Hill Resources

Sep 06

Turquoise Hill Resources GAAP EPS of $0.41 beats by $0.09, revenue of $402M beats by $1.4M

Aug 04

Turquoise Hill Resources Ltd.: Investors Upbeat Before Takeover

May 19

Turquoise Hill's Copper Mine Ramping Toward Higher Cash Flow

Feb 04

Turquoise Hill Resources: Wait For A Better Entry

Oct 20

Turquoise Hill: A Look At Q2 2021 Results

Aug 03

Turquoise Hill: Q2 Will Look Ugly

Jul 16

Financial Position Analysis

Short Term Liabilities: TRQ's short term assets ($538.2M) do not cover its short term liabilities ($1.3B).

Long Term Liabilities: TRQ's short term assets ($538.2M) do not cover its long term liabilities ($3.8B).

Debt to Equity History and Analysis

Debt Level: TRQ's net debt to equity ratio (40.4%) is considered high.

Reducing Debt: TRQ's debt to equity ratio has reduced from 51.9% to 42.5% over the past 5 years.

Debt Coverage: TRQ's debt is not well covered by operating cash flow (10.3%).

Interest Coverage: TRQ earns more interest than it pays, so coverage of interest payments is not a concern.

Balance Sheet

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Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2022/12/17 20:31
End of Day Share Price	2022/12/15 00:00
Earnings	2022/09/30
Annual Earnings	2021/12/31

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	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* 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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

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 Github.

Analyst Sources

Turquoise Hill Resources Ltd. is covered by 18 analysts. 2 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
John Hayes	BMO Capital Markets Equity Research
Tony Robson	BMO Capital Markets Equity Research
Oscar Cabrera	BofA Global Research