Cardiol Therapeutics (TSX:CRDL) Debt-to-Equity : 0.01 (As of Dec. 2023)

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What is Cardiol Therapeutics Debt-to-Equity?

Cardiol Therapeutics's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was C$0.02 Mil. Cardiol Therapeutics's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was C$0.16 Mil. Cardiol Therapeutics's Total Stockholders Equity for the quarter that ended in Dec. 2023 was C$28.25 Mil. Cardiol Therapeutics's debt to equity for the quarter that ended in Dec. 2023 was 0.01.

A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.

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

TSX:CRDL' s Debt-to-Equity Range Over the Past 10 Years
Min: 0 Med: 0.01 Max: 0.07
Current: 0.01

During the past 7 years, the highest Debt-to-Equity Ratio of Cardiol Therapeutics was 0.07. The lowest was 0.00. And the median was 0.01.

TSX:CRDL's Debt-to-Equity is ranked better than
99.88% of 849 companies
in the Drug Manufacturers industry
Industry Median: 0.29 vs TSX:CRDL: 0.01

Cardiol Therapeutics Debt-to-Equity Historical Data

The historical data trend for Cardiol Therapeutics's Debt-to-Equity 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.

* Premium members only.

Cardiol Therapeutics Debt-to-Equity Chart

Cardiol Therapeutics Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Debt-to-Equity

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0.01

Cardiol Therapeutics Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Debt-to-Equity	Get a 7-Day Free Trial															-	-	-	0.01	0.01

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

For the Drug Manufacturers - Specialty & Generic subindustry, Cardiol Therapeutics's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity 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 Debt-to-Equity Distribution in the Drug Manufacturers Industry

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

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

Cardiol Therapeutics Debt-to-Equity Calculation

Debt to Equity measures the financial leverage a company has.

Cardiol Therapeutics's Debt to Equity Ratio for the fiscal year that ended in Dec. 2023 is calculated as

Debt to Equity	=	Total Debt			/	Total Stockholders Equity
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	Total Stockholders Equity
	=	(0.016	+	0.159)	/	28.247
	=	0.01

Cardiol Therapeutics's Debt to Equity Ratio for the quarter that ended in Dec. 2023 is calculated as

Debt to Equity	=	Total Debt			/	Total Stockholders Equity
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	Total Stockholders Equity
	=	(0.016	+	0.159)	/	28.247
	=	0.01

Cardiol Therapeutics (TSX:CRDL) Debt-to-Equity Explanation

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

Be Aware

Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.

Cardiol Therapeutics Debt-to-Equity 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 » Debt-to-Equity

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