Cardiol Therapeutics (TSX:CRDL) Cash-to-Debt : 199.61 (As of Dec. 2023)

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What is Cardiol Therapeutics 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. Cardiol Therapeutics's cash to debt ratio for the quarter that ended in Dec. 2023 was 199.61.

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, Cardiol Therapeutics could pay off its debt using the cash in hand for the quarter that ended in Dec. 2023.

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

TSX:CRDL' s Cash-to-Debt Range Over the Past 10 Years
Min: 12.41 Med: 89.33 Max: 825.97
Current: 199.61

During the past 7 years, Cardiol Therapeutics's highest Cash to Debt Ratio was 825.97. The lowest was 12.41. And the median was 89.33.

TSX:CRDL's Cash-to-Debt is ranked better than
90.44% of 1046 companies
in the Drug Manufacturers industry
Industry Median: 0.95 vs TSX:CRDL: 199.61

Cardiol Therapeutics Cash-to-Debt Historical Data

The historical data trend for Cardiol Therapeutics'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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Cardiol Therapeutics Cash-to-Debt Chart

Cardiol Therapeutics Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Cash-to-Debt

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36.61

89.33

711.01

825.97

199.61

Cardiol Therapeutics Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Cash-to-Debt	Get a 7-Day Free Trial															825.97	810.95	936.29	223.98	199.61

Competitive Comparison of Cardiol Therapeutics's Cash-to-Debt

For the Drug Manufacturers - Specialty & Generic subindustry, Cardiol Therapeutics'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.

Cardiol Therapeutics's Cash-to-Debt Distribution in the Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Cardiol Therapeutics's Cash-to-Debt distribution charts can be found below:

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

Cardiol Therapeutics 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.

Cardiol Therapeutics's Cash to Debt Ratio for the fiscal year that ended in Dec. 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)
	=	34.932	/	(0.016	+	0.159)
	=	199.61

Cardiol Therapeutics's Cash to Debt Ratio for the quarter that ended in Dec. 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)
	=	34.932	/	(0.016	+	0.159)
	=	199.61

Cardiol Therapeutics (TSX:CRDL) 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.

Cardiol Therapeutics Cash-to-Debt Related Terms

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Cardiol Therapeutics (TSX:CRDL) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » Cardiol Therapeutics Inc (TSX:CRDL) » Definitions » Cash-to-Debt

Comparable Companies

Traded in Other Exchanges

CRDL:USA CT9:Germany

Address

2265 Upper Middle Road East, Suite 602, Oakville, ON, CAN, L6H 0G5

Website

https://www.cardiolrx.com

Cardiol Therapeutics Inc is a clinical-stage life sciences company focused on the research and clinical development of anti-inflammatory and anti-fibrotic therapies for the treatment of heart diseases. The company's lead product candidate, CardiolRx, is a pharmaceutically manufactured oral cannabidiol formulation that is being clinically developed for use in heart diseases. Cardiol has received Investigational New Drug Application authorization from the United States Food and Drug Administration to conduct clinical studies to evaluate the efficacy and safety of CardiolRx in two diseases affecting the heart which are a Phase II multi-national trial, the ARCHER trial, in acute myocarditis; and a Phase II multi-center open-label pilot study in recurrent pericarditis.

Executives

Guillermo Torre

Senior Officer