2 Cheap Cars Group (NZSE:2CC) LT-Debt-to-Total-Asset : 0.16 (As of Mar. 2024)

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What is 2 Cheap Cars Group LT-Debt-to-Total-Asset?

LT Debt to Total Assets is a measurement representing the percentage of a corporation's assets that are financed with loans and financial obligations lasting more than one year. The ratio provides a general measure of the financial position of a company, including its ability to meet financial requirements for outstanding loans. It is calculated as a company's Long-Term Debt & Capital Lease Obligationdivide by its Total Assets. 2 Cheap Cars Group's long-term debt to total assests ratio for the quarter that ended in Mar. 2024 was 0.16.

2 Cheap Cars Group's long-term debt to total assets ratio declined from Mar. 2023 (0.21) to Mar. 2024 (0.16). It may suggest that 2 Cheap Cars Group is progressively becoming less dependent on debt to grow their business.

2 Cheap Cars Group LT-Debt-to-Total-Asset Historical Data

The historical data trend for 2 Cheap Cars Group's LT-Debt-to-Total-Asset 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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2 Cheap Cars Group LT-Debt-to-Total-Asset Chart

2 Cheap Cars Group Annual Data

Trend

Mar21

Mar22

Mar23

Mar24

LT-Debt-to-Total-Asset

0.15

0.16

0.21

0.16

2 Cheap Cars Group Semi-Annual Data
	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23	Mar24
LT-Debt-to-Total-Asset	Get a 7-Day Free Trial			0.16	0.15	0.21	0.18	0.16

2 Cheap Cars Group LT-Debt-to-Total-Asset Calculation

2 Cheap Cars Group's Long-Term Debt to Total Asset Ratio for the fiscal year that ended in Mar. 2024 is calculated as

LT Debt to Total Assets (A: Mar. 2024 )	=	Long-Term Debt & Capital Lease Obligation (A: Mar. 2024 )	/	Total Assets (A: Mar. 2024 )
	=	5.617	/	34.365
	=	0.16

2 Cheap Cars Group's Long-Term Debt to Total Asset Ratio for the quarter that ended in Mar. 2024 is calculated as

LT Debt to Total Assets (Q: Mar. 2024 )	=	Long-Term Debt & Capital Lease Obligation (Q: Mar. 2024 )	/	Total Assets (Q: Mar. 2024 )
	=	5.617	/	34.365
	=	0.16

2 Cheap Cars Group (NZSE:2CC) LT-Debt-to-Total-Asset Explanation

LT Debt to Total Asset is a measurement representing the percentage of a corporation's assets that are financed with loans and financial obligations lasting more than one year. The ratio provides a general measure of the financial position of a company, including its ability to meet financial requirements for outstanding loans. A year-over-year decrease in this metric would suggest the company is progressively becoming less dependent on debt to grow their business.

2 Cheap Cars Group LT-Debt-to-Total-Asset Related Terms

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2 Cheap Cars Group (NZSE:2CC) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » 2 Cheap Cars Group Ltd (NZSE:2CC) » Definitions » LT-Debt-to-Total-Asset

Comparable Companies

Traded in Other Exchanges

N/A

Address

102 Mays Road, Onehunga, Auckland, NTL, NZL, 1061

Website

https://www.2cheapcars.co.nz

2 Cheap Cars Group Ltd is an integrated automotive group operating throughout New Zealand via two divisions: Automotive Retail and Finance. The 2 Cheap Cars Group draws revenue from the two divisions: automotive retail division, revenue is primarily from the sale of vehicles and from agent commissions relating to third-party finance and insurance products. NZ Motor Finance (NZMF) generates finance income from lending to customers who are financing vehicles, and from selling guaranteed asset protection insurance (GAP) and payment protection insurance (PPI) products.

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