Canoe EIT Income Fund Net debt/EBITDA
What is the Net debt/EBITDA of Canoe EIT Income Fund?
The Net debt/EBITDA of Canoe EIT Income Fund is -23.70
What is the definition of Net debt/EBITDA?
The net debt to earnings before interest, taxes, depreciation, and amortization (Net debt/EBITDA) ratio measures financial leverage and the company’s ability to pay off its debt. It shows how long it would take the company to pay off all its debt with operations at the current level.
The net debt to EBITDA ratio is calculated as Net debt divided by EBITDA. It is similar to the debt to EBITDA ratio, but cash and cash equivalents are subtracted in net debt.
Net debt = short-term debt + long-term debt - cash and cash equivalents
EBITDA = net income + interest expense + taxes + depreciation + amortization
Lower debt debt to EBITDA ratio indicates the company is not heavily indebted and should be able to repay its obligations. Alternatively, higher ratio indicated the company is excessively indebted. The ratio varies between industries as different industries have different capital requirements. Usually, the ratio should be compared to a benchmark or an industry average to determine the company’s credit risk. Generally, a net debt to EBITDA ratio above 4 or 5 is considered high.
Net debt/EBITDA of companies in the Finance sector on OTC compared to Canoe EIT Income Fund
What does Canoe EIT Income Fund do?
Canoe EIT Income Fund is a closed-ended balanced fund launched and managed by Canoe Financial LP. It is co-managed by Haber Trilix Advisors, LP. The fund invests in the public equity and fixed income markets of Canada and the United States. Its equity portion seeks to invest in the stocks of companies operating across diversified sectors. The fund primarily invests in growth and value stocks of mid-cap and large-cap companies. It invests in equity and debt securities of royalty and income trusts, corporations, partnerships, or other issuers. The fund was formerly known as EnerVest Diversified Income Trust. Canoe EIT Income Fund was formed on August 5, 1997 and is domiciled in Canada.
Companies with net debt/ebitda similar to Canoe EIT Income Fund
- PolyMet Mining has Net debt/EBITDA of -23.81
- Elevation Gold Mining Corporati has Net debt/EBITDA of -23.77
- ASX has Net debt/EBITDA of -23.76
- Sparta Commercial Services has Net debt/EBITDA of -23.73
- Global Bio-chem Technology has Net debt/EBITDA of -23.72
- Eolus Vind AB (publ) has Net debt/EBITDA of -23.71
- Canoe EIT Income Fund has Net debt/EBITDA of -23.70
- Pieridae has Net debt/EBITDA of -23.68
- International Business Settlement has Net debt/EBITDA of -23.67
- Mei Ah Entertainment has Net debt/EBITDA of -23.62
- Ivrnet has Net debt/EBITDA of -23.62
- G & M has Net debt/EBITDA of -23.56
- Compass has Net debt/EBITDA of -23.54