Major Drilling Group International (TSX:MDI) Cash-to-Debt : 17.04 (As of Oct. 2023)

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What is Major Drilling Group International 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. Major Drilling Group International's cash to debt ratio for the quarter that ended in Oct. 2023 was 17.04.

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, Major Drilling Group International could pay off its debt using the cash in hand for the quarter that ended in Oct. 2023.

The historical rank and industry rank for Major Drilling Group International's Cash-to-Debt or its related term are showing as below:

TSX:MDI' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.49 Med: 2.21 Max: 17.04
Current: 17.04

During the past 13 years, Major Drilling Group International's highest Cash to Debt Ratio was 17.04. The lowest was 0.49. And the median was 2.21.

TSX:MDI's Cash-to-Debt is ranked worse than
50.61% of 2636 companies
in the Metals & Mining industry
Industry Median: 17.81 vs TSX:MDI: 17.04

Major Drilling Group International Cash-to-Debt Historical Data

The historical data trend for Major Drilling Group International'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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Major Drilling Group International Cash-to-Debt Chart

Major Drilling Group International Annual Data

Trend

Apr14

Apr15

Apr16

Apr17

Apr18

Apr19

Apr20

Apr21

Apr22

Apr23

Cash-to-Debt

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1.58

1.06

1.16

1.29

3.70

Major Drilling Group International Quarterly Data
	Apr19	Jul19	Oct19	Jan20	Apr20	Jul20	Oct20	Jan21	Apr21	Jul21	Oct21	Jan22	Apr22	Jul22	Oct22	Jan23	Apr23	Jul23	Oct23	Jan24
Cash-to-Debt	Get a 7-Day Free Trial															4.56	3.70	13.10	17.04	N/A

Competitive Comparison of Major Drilling Group International's Cash-to-Debt

For the Other Industrial Metals & Mining subindustry, Major Drilling Group International'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.

Major Drilling Group International's Cash-to-Debt Distribution in the Metals & Mining Industry

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

* The bar in red indicates where Major Drilling Group International's Cash-to-Debt falls into.

Major Drilling Group International 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.

Major Drilling Group International's Cash to Debt Ratio for the fiscal year that ended in Apr. 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)
	=	94.432	/	(1.617	+	23.937)
	=	3.70

Major Drilling Group International's Cash to Debt Ratio for the quarter that ended in Oct. 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)
	=	92.467	/	(1.434	+	3.994)
	=	17.04

Major Drilling Group International (TSX:MDI) 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.

Major Drilling Group International Cash-to-Debt Related Terms

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Major Drilling Group International (TSX:MDI) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Major Drilling Group International Inc (TSX:MDI) » Definitions » Cash-to-Debt

Comparable Companies

Traded in Other Exchanges

MJDLF:USA 3MJ:Germany

Address

111 St. George Street, Suite 100, Moncton, NB, CAN, E1C 1T7

Website

https://www.majordrilling.com

Major Drilling Group International Inc is engaged in the business of contract drilling, and it provides services to companies that are involved in mining and mineral exploration. It offers surface and underground coring, directional, reverse circulation, sonic, geotechnical, environmental, water-well, coal-bed methane, shallow gas, and underground percussive/long-hole drilling services, as well as various drilling-related mine services. Its geographical segments are Canada - the United States; South and Central America; and Australasia and Africa, of which most of its revenue comes from Canada - the United States.

Major Drilling Group International (TSX:MDI) Headlines

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