Equinox Resources (ASX:EQN) Cash-to-Debt : 33.87 (As of Jun. 2023)

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What is Equinox Resources Cash-to-Debt?

Cash to Debt Ratio measures the financial strength of a company. It is calculated as a company's cash, cash equivalents, and marketable securities divide by its debt. Equinox Resources's cash to debt ratio for the quarter that ended in Jun. 2023 was 33.87.

If Cash to Debt ratio is greater than 1, the company can pay off its debt using the cash in hand. Here we can see, Equinox Resources could pay off its debt using the cash in hand for the quarter that ended in Jun. 2023.

The historical rank and industry rank for Equinox Resources's Cash-to-Debt or its related term are showing as below:

ASX:EQN' s Cash-to-Debt Range Over the Past 10 Years
Min: 33.87 Med: 65.4 Max: 96.94
Current: 33.87

During the past 2 years, Equinox Resources's highest Cash to Debt Ratio was 96.94. The lowest was 33.87. And the median was 65.40.

ASX:EQN's Cash-to-Debt is ranked better than
90.57% of 615 companies
in the Steel industry
Industry Median: 0.43 vs ASX:EQN: 33.87

Equinox Resources Cash-to-Debt Historical Data

The historical data trend for Equinox Resources's Cash-to-Debt can be seen below:

* 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.

Note: An indication of "No Debt" does not necessarily mean that the company has no debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.

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Equinox Resources Cash-to-Debt Chart

Equinox Resources Annual Data

Trend

Jun22

Jun23

Cash-to-Debt

96.94

33.87

Equinox Resources Quarterly Data
	Dec21	Jun22	Dec22	Jun23	Dec23
Cash-to-Debt	N/A	96.94	N/A	33.87	N/A

Competitive Comparison of Equinox Resources's Cash-to-Debt

For the Steel subindustry, Equinox Resources's Cash-to-Debt, along with its competitors' market caps and Cash-to-Debt 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.

Equinox Resources's Cash-to-Debt Distribution in the Steel Industry

For the Steel industry and Basic Materials sector, Equinox Resources's Cash-to-Debt distribution charts can be found below:

* The bar in red indicates where Equinox Resources's Cash-to-Debt falls into.

Equinox Resources Cash-to-Debt Calculation

This is the ratio of a company's Cash, Cash Equivalents, Marketable Securities to its debt. The debt includes the Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation. This ratio measures the financial strength of a company. This ratio is updated quarterly.

Equinox Resources's Cash to Debt Ratio for the fiscal year that ended in Jun. 2023 is calculated as:

Cash to Debt Ratio	=	Cash, Cash Equivalents, Marketable Securities	/	Total Debt
	=	Cash, Cash Equivalents, Marketable Securities	/	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)
	=	4.267	/	(0.055	+	0.071)
	=	33.87

Equinox Resources's Cash to Debt Ratio for the quarter that ended in Jun. 2023 is calculated as:

Cash to Debt Ratio	=	Cash, Cash Equivalents, Marketable Securities	/	Total Debt
	=	Cash, Cash Equivalents, Marketable Securities	/	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)
	=	4.267	/	(0.055	+	0.071)
	=	33.87

Equinox Resources (ASX:EQN) Cash-to-Debt Explanation

If Cash to Debt ratio is greater than 1, the company can pay off its debt using the cash in hand. If it is smaller than 1, it means the company has more debt than the cash in hands. In this case, it is important to look the the company's Interest Coverage. Ben Graham requires that a company must have an Interest Coverage of at least 5.

Equinox Resources Cash-to-Debt Related Terms

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Equinox Resources (ASX:EQN) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » Equinox Resources Ltd (ASX:EQN) » Definitions » Cash-to-Debt

Comparable Companies

Traded in Other Exchanges

N/A

Address

182 St George's Terrace, Level 50, Perth, WA, AUS, 6000

Website

https://www.eqnx.com.au

Equinox Resources Ltd is a mineral exploration appraising and development company. It owns interests in the Hamersley Iron Ore Project is located north of Tom Price in the Pilbara region of Western Australia.

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