China Three Gorges Renewables (Group) Co (SHSE:600905) Debt-to-EBITDA : 9.69 (As of Mar. 2024)

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What is China Three Gorges Renewables (Group) Co Debt-to-EBITDA?

Debt-to-EBITDA measures a company's ability to pay off its debt.

China Three Gorges Renewables (Group) Co's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2024 was ¥12,691 Mil. China Three Gorges Renewables (Group) Co's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2024 was ¥154,297 Mil. China Three Gorges Renewables (Group) Co's annualized EBITDA for the quarter that ended in Mar. 2024 was ¥17,241 Mil. China Three Gorges Renewables (Group) Co's annualized Debt-to-EBITDA for the quarter that ended in Mar. 2024 was 9.69.

A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.

The historical rank and industry rank for China Three Gorges Renewables (Group) Co's Debt-to-EBITDA or its related term are showing as below:

SHSE:600905' s Debt-to-EBITDA Range Over the Past 10 Years
Min: 3.62 Med: 6.12 Max: 12.49
Current: 12.49

During the past 13 years, the highest Debt-to-EBITDA Ratio of China Three Gorges Renewables (Group) Co was 12.49. The lowest was 3.62. And the median was 6.12.

SHSE:600905's Debt-to-EBITDA is ranked worse than
85.76% of 323 companies
in the Utilities - Independent Power Producers industry
Industry Median: 4.42 vs SHSE:600905: 12.49

China Three Gorges Renewables (Group) Co Debt-to-EBITDA Historical Data

The historical data trend for China Three Gorges Renewables (Group) Co's Debt-to-EBITDA 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.

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China Three Gorges Renewables (Group) Co Debt-to-EBITDA Chart

China Three Gorges Renewables (Group) Co Annual Data

Trend

Dec09

Dec10

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Debt-to-EBITDA

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5.39

6.77

6.38

6.17

6.90

China Three Gorges Renewables (Group) Co Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Debt-to-EBITDA	Get a 7-Day Free Trial															8.56	9.76	16.18	12.22	9.69

Competitive Comparison of China Three Gorges Renewables (Group) Co's Debt-to-EBITDA

For the Utilities - Renewable subindustry, China Three Gorges Renewables (Group) Co's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA 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.

China Three Gorges Renewables (Group) Co's Debt-to-EBITDA Distribution in the Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, China Three Gorges Renewables (Group) Co's Debt-to-EBITDA distribution charts can be found below:

* The bar in red indicates where China Three Gorges Renewables (Group) Co's Debt-to-EBITDA falls into.

China Three Gorges Renewables (Group) Co Debt-to-EBITDA Calculation

Debt-to-EBITDA measures a company's ability to pay off its debt.

China Three Gorges Renewables (Group) Co's Debt-to-EBITDA for the fiscal year that ended in Dec. 2023 is calculated as

Debt-to-EBITDA	=	Total Debt			/	EBITDA
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	EBITDA
	=	(14660.251	+	144314.442)	/	23027.302
	=	6.90

China Three Gorges Renewables (Group) Co's annualized Debt-to-EBITDA for the quarter that ended in Mar. 2024 is calculated as

Debt-to-EBITDA	=	Total Debt			/	EBITDA
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	EBITDA
	=	(12691.238	+	154297.012)	/	17240.664
	=	9.69

In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data, the EBITDA data used here is four times the quarterly (Mar. 2024) EBITDA data.

China Three Gorges Renewables (Group) Co (SHSE:600905) Debt-to-EBITDA Explanation

In the calculation of Debt-to-EBITDA, we use the total of Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation divided by EBITDA. In some calculations, Total Liabilities is used to for calculation.

Be Aware

A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.

According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.

China Three Gorges Renewables (Group) Co Debt-to-EBITDA Related Terms

Thank you for viewing the detailed overview of China Three Gorges Renewables (Group) Co's Debt-to-EBITDA provided by GuruFocus.com. Please click on the following links to see related term pages.

China Three Gorges Renewables (Group) Co (SHSE:600905) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Independent Power Producers » China Three Gorges Renewables (Group) Co Ltd (SHSE:600905) » Definitions » Debt-to-EBITDA

Traded in Other Exchanges

N/A

Address

No. 1, Gongyuan Street, Room 206-23, 2nd Floor, Building 1, Tongzhou District, Beijing, CHN, 101149

Website

https://www.ctgne.com

China Three Gorges Renewables, or CTGR, is one of China's largest renewable energy producers. The firm operates wind farms, photovoltaic power plants, hydro-electric power plants, and energy storage projects. CTGR has a total generation capacity of about 26.5 gigawatts as of the end of 2022. In particular, the firm is also one of the largest offshore wind farm operators in China, with 4.9 GW of installed capacity at the end of 2022, representing about 16% of China's total capacity. Parent company, China Three Gorges, a state-owned enterprise, owns approximately 52.4% of CTGR's issued shares as of the end of 2022.

China Three Gorges Renewables (Group) Co (SHSE:600905) Headlines

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