What is Innovative Designs Financial Strength?
Innovative Designs has the Financial Strength Rank of 7.
GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors:
1. The debt burden that the company has as measured by its
Interest Coverage (current year). The higher, the better.
2. Debt to revenue ratio. The lower, the better.
3.
Altman Z-Score.
Innovative Designs did not have earnings to cover the interest expense.
Innovative Designs's debt to revenue ratio for the quarter that ended in Jan. 2024 was 0.42.
As of today, Innovative Designs's Altman Z-Score is 6.44.
Competitive Comparison of Innovative Designs's Financial Strength
For the Apparel Retail subindustry, Innovative Designs's Financial Strength, along with its competitors' market caps and Financial Strength data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Innovative Designs's Financial Strength Distribution in the Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Innovative Designs's Financial Strength distribution charts can be found below:
* The bar in red indicates where Innovative Designs's Financial Strength falls into.
Innovative Designs Financial Strength Calculation
GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors
A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.
1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.
Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:
Innovative Designs's Interest Expense for the
months ended in Jan. 2024 was $-0.01 Mil. Its Operating Income for the
months ended in Jan. 2024 was $-0.06 Mil. And its Long-Term Debt & Capital Lease Obligation for the quarter that ended in Jan. 2024 was $0.04 Mil.
Innovative Designs's Interest Coverage for the quarter that ended in Jan. 2024 is
| Innovative Designs did not have earnings to cover the interest expense. |
The higher the ratio, the stronger the company's financial strength is.
2. Debt to revenue ratio. The lower, the better.
Innovative Designs's Debt to Revenue Ratio for the quarter that ended in Jan. 2024 is
3. Altman Z-Score.
Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
The zones of discrimination were as such:
When Z-Score is less than 1.81, it is in Distress Zones.
When Z-Score is greater than 2.99, it is in Safe Zones.
When Z-Score is between 1.81 and 2.99, it is in Grey Zones.
Innovative Designs has a Z-score of 6.44, indicating it is in Safe Zones. This implies the Z-Score is strong.
Good Sign:
Altman Z-score of 6.44 is strong.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Innovative Designs (Innovative Designs) Business Description
Traded in Other Exchanges
N/A
Address
124 Cherry Street, Pittsburgh, PA, USA, 15223
Innovative Designs Inc markets cold-weather recreational and industrial clothing products, as well as house wrap, which is made from INSULTEX, a low density foamed polyethylene with buoyancy, scent block and thermal resistant properties. The business activity of the firm is operated through two segments Apparel and Housewrap. The Apparel segment offers a range of cold weather apparel and related items. The Housewrap segment includes its INSULTEX House Wrap and its own seam tape. It generates maximum revenue from the Housewrap segment.
Executives
| Robert Kennedy Adams |
director |
3509 WILLIAM PENN DR., SAN ANTONIO TX 78230 |
| Donald Vincent Garlotta |
director |
124 CHERRY STREET, PITTSBURGH PA 15223 |
| Joseph Riccelli |
director, 10 percent owner, officer: Chief Executive Officer |
223 NORTH MAIN STREET, SUITE 1, PITTSBURGH PA 15215 |
| Dean Kolocouris |
director |
109 FOX PATH, MOON TWP PA 15108 |
| Daniel P Rains |
director |
2509 WIEWAN ROAD, ALIQUIPPA PA 15001 |
| Robert D Monsour |
director |
223 NORTH MAIN STREET, SUITE 1, PITTSBURGH PA 15215 |
| Innovative Designs Inc |
director |
124 CHERRY ST., STE 1, PITTSBURGH PA 15223 |
| Joseph A Riccelli |
officer: Vice President |
223 NORTH MAIN STREET, SUITE 1, PITTSBURGH PA 15215 |
| Dean P Kolocouris |
director |
223 NORTH MAIN STREET, SUITE 1, PITTSBURGH PA 15215 |
| Frank Riccelli |
director, 10 percent owner, officer: President |
223 NORTH MAIN STREET, SUITE 1, PITTSBURGH PA 15215 |
| Dominic Cerniglia |
director |
223 NORTH MAIN STREET, SUITE 1, PITTSBURGH PA 15215 |
| Anthony Fonzi |
director, officer: Chief Financial Officer |
223 NORTH MAIN STREET, SUITE 1, PITTSBURGH PA 15215 |
Innovative Designs (Innovative Designs) Headlines
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
IVDN has been successfully added to your