MGI Tech Co (SHSE:688114) LT-Debt-to-Total-Asset : 0.03 (As of Mar. 2024)

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What is MGI Tech Co 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. MGI Tech Co's long-term debt to total assests ratio for the quarter that ended in Mar. 2024 was 0.03.

MGI Tech Co's long-term debt to total assets ratio increased from Mar. 2023 (0.01) to Mar. 2024 (0.03). It may suggest that MGI Tech Co is progressively becoming more dependent on debt to grow their business.

MGI Tech Co LT-Debt-to-Total-Asset Historical Data

The historical data trend for MGI Tech Co'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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MGI Tech Co LT-Debt-to-Total-Asset Chart

MGI Tech Co Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

LT-Debt-to-Total-Asset

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0.02

0.01

0.03

MGI Tech Co Quarterly Data
	Dec17	Dec18	Dec19	Jun20	Sep20	Dec20	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
LT-Debt-to-Total-Asset	Get a 7-Day Free Trial													0.01	0.02	0.03	0.03	0.03

MGI Tech Co LT-Debt-to-Total-Asset Calculation

MGI Tech Co's Long-Term Debt to Total Asset Ratio for the fiscal year that ended in Dec. 2023 is calculated as

LT Debt to Total Assets (A: Dec. 2023 )	=	Long-Term Debt & Capital Lease Obligation (A: Dec. 2023 )	/	Total Assets (A: Dec. 2023 )
	=	259.535	/	10557.087
	=	0.02

MGI Tech Co'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 )
	=	249.554	/	10038.331
	=	0.02

MGI Tech Co (SHSE:688114) 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.

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MGI Tech Co (SHSE:688114) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » MGI Tech Co Ltd (SHSE:688114) » Definitions » LT-Debt-to-Total-Asset

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Traded in Other Exchanges

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Address

Beishan Industrial Zone, 2nd Floor, Comprehensive Building and Building 11, Yantian District, Guangdong Province, Shenzhen, CHN, 518083

Website

http://www.mgi-tech.com

MGI Tech Co Ltd is a producer of clinical high-throughput gene sequencers, and its multi-omics platforms include genetic sequencing, medical imaging, and laboratory automation. It provides real-time, panoramic, and full-life-cycle equipment and systems for precision medicine, precision agriculture, precision healthcare and other relevant industries.

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