Novo Resources (TSX:NVO) Cash-to-Debt : 7.28 (As of Dec. 2023)

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What is Novo 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. Novo Resources's cash to debt ratio for the quarter that ended in Dec. 2023 was 7.28.

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, Novo Resources 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 Novo Resources's Cash-to-Debt or its related term are showing as below:

TSX:NVO' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.4 Med: No Debt Max: No Debt
Current: 7.28

During the past 13 years, Novo Resources's highest Cash to Debt Ratio was No Debt. The lowest was 0.40. And the median was No Debt.

TSX:NVO's Cash-to-Debt is ranked worse than
56.03% of 2636 companies
in the Metals & Mining industry
Industry Median: 17.875 vs TSX:NVO: 7.28

Novo Resources Cash-to-Debt Historical Data

The historical data trend for Novo 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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Novo Resources Cash-to-Debt Chart

Novo Resources Annual Data

Trend

Jan14

Jan15

Jan16

Jan17

Jan18

Jan19

Jan20

Dec21

Dec22

Dec23

Cash-to-Debt

Get a 7-Day Free Trial

No Debt

6.12

0.40

7.29

7.28

Novo Resources Quarterly Data
	Jan19	Apr19	Jul19	Oct19	Jan20	Apr20	Jul20	Oct20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Cash-to-Debt	Get a 7-Day Free Trial															7.29	5.62	9.39	9.27	7.28

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

For the Gold subindustry, Novo 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.

Novo Resources's Cash-to-Debt Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Novo Resources's Cash-to-Debt distribution charts can be found below:

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

Novo 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.

Novo Resources'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)
	=	11.762	/	(1.169	+	0.446)
	=	7.28

Novo Resources'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)
	=	11.762	/	(1.169	+	0.446)
	=	7.28

Novo Resources (TSX:NVO) 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.

Novo Resources Cash-to-Debt Related Terms

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Novo Resources (TSX:NVO) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Novo Resources Corp (TSX:NVO) » Definitions » Cash-to-Debt

Comparable Companies

Traded in Other Exchanges

NSRPF:USA 1NO:Germany NVO:Australia

Address

1199 West Hastings Street, Vancouver, BC, CAN, V6E 3T5

Website

https://www.novoresources.com

Novo Resources Corp is a company engaged in the business of evaluating, acquiring, and exploring natural resource properties with a focus on gold. The organization has business interests in properties located in Australia, Canada, and the USA. Its projects include Beatons Creek Property, Millennium Property, Blue Spec; Paleo-Placer; Comet Well, and others. It has two segments Mining operations and exploration operations.