EMAEmera Incorporated
Is it safe?
Nothing alarming, nothing pristine: comfortable debt (BBB) and typical volatility.
Investment-grade balance sheet. A rule of thumb on leverage, not a credit rating.
Moderate price swings, typical volatility. Worst drawdown -36% · now 17% below its 52-week high.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can EMA take a bad year?
Emera Incorporated carries $21.1B of net debt at 6.45× EBITDA: a heavy load to carry through a bad year.
Net debt · as at FY2025 · over four years of earnings before interest, tax and depreciation, heavy
- Net debt / EBITDA
- 6.45×
Net debt / EBITDA · 8.73× a year ago · the load is coming down
- Cash runway
- 0.2 years
Cash runway · burning $433M a quarter at the current rate
- Annualised volatility
- 27%
Annualised volatility · about as steady as the market itself
Details›
- Total debtFY2025
- $21.5B
- Cash and short-term investments
- $354M
- Net debt
- $21.1B
- EBITDA, trailing twelve months
- $3.27B
- Operating profit, trailing twelve months
- $1.98B
- Debt / equity
- 1.60×
- Total debt / EBITDA
- 6.56×
- Annualised volatilitytwo years of daily moves
- 27%
- Worst drawdown on file
- −36%
- Below its 52-week high
- 17%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.
Utilities, Regulated Electric
Ranks #8 of 15 by RyuScore