Drax Group Balance Sheet Health
Financial Health criteria checks 4/6
Drax Group has a total shareholder equity of £2.0B and total debt of £1.4B, which brings its debt-to-equity ratio to 71.9%. Its total assets and total liabilities are £6.0B and £4.1B respectively. Drax Group's EBIT is £972.6M making its interest coverage ratio 9.7. It has cash and short-term investments of £379.5M.
Key information
71.9%
Debt to equity ratio
UK£1.43b
Debt
Interest coverage ratio | 9.7x |
Cash | UK£379.50m |
Equity | UK£1.98b |
Total liabilities | UK£4.06b |
Total assets | UK£6.04b |
Recent financial health updates
No updates
Recent updates
Financial Position Analysis
Short Term Liabilities: DRXG.F's short term assets (£2.3B) exceed its short term liabilities (£2.1B).
Long Term Liabilities: DRXG.F's short term assets (£2.3B) exceed its long term liabilities (£2.0B).
Debt to Equity History and Analysis
Debt Level: DRXG.F's net debt to equity ratio (52.7%) is considered high.
Reducing Debt: DRXG.F's debt to equity ratio has increased from 33.3% to 71.9% over the past 5 years.
Debt Coverage: DRXG.F's debt is well covered by operating cash flow (58.6%).
Interest Coverage: DRXG.F's interest payments on its debt are well covered by EBIT (9.7x coverage).