Elite Pharmaceuticals Balance Sheet Health
Financial Health criteria checks 5/6
Elite Pharmaceuticals has a total shareholder equity of $46.4M and total debt of $7.6M, which brings its debt-to-equity ratio to 16.4%. Its total assets and total liabilities are $74.7M and $28.3M respectively. Elite Pharmaceuticals's EBIT is $7.0M making its interest coverage ratio 10.3. It has cash and short-term investments of $5.8M.
Key information
16.4%
Debt to equity ratio
US$7.62m
Debt
Interest coverage ratio | 10.3x |
Cash | US$5.82m |
Equity | US$46.41m |
Total liabilities | US$28.28m |
Total assets | US$74.70m |
Recent financial health updates
No updates
Recent updates
Financial Position Analysis
Short Term Liabilities: ELTP's short term assets ($37.2M) exceed its short term liabilities ($19.2M).
Long Term Liabilities: ELTP's short term assets ($37.2M) exceed its long term liabilities ($9.1M).
Debt to Equity History and Analysis
Debt Level: ELTP's net debt to equity ratio (3.9%) is considered satisfactory.
Reducing Debt: ELTP's debt to equity ratio has reduced from 29.2% to 16.4% over the past 5 years.
Debt Coverage: ELTP's operating cash flow is negative, therefore debt is not well covered.
Interest Coverage: ELTP's interest payments on its debt are well covered by EBIT (10.3x coverage).