4 ASX shares with sturdy balance sheets

We have come to learn this year that share market crashes still exist and will continue into the future. Some investors may start looking for shares that make money and have a healthy balance sheet, as opposed to pre-revenue cash burners.

Any company can go bust in a major economic downturn, but having a good balance sheet makes it less likely. Let’s take a look at 4 financially fortified ASX companies.

Fortescue Metals Group Ltd (ASX: FMG)

The iron ore producer has had a bumper year as a result of the sky-high price of the commodity used to produce steel. Shareholders would be chuffed with their trailing dividend yield of 7.45% for the year.

Despite paying generous dividends, Fortescue has still grown its own cash. Taking a look…