Rongsheng Petro Chemical Co (SZSE:002493) LT-Debt-to-Total-Asset : 0.34 (As of Mar. 2024)

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What is Rongsheng Petro Chemical 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. Rongsheng Petro Chemical Co's long-term debt to total assests ratio for the quarter that ended in Mar. 2024 was 0.34.

Rongsheng Petro Chemical Co's long-term debt to total assets ratio declined from Mar. 2023 (0.39) to Mar. 2024 (0.34). It may suggest that Rongsheng Petro Chemical Co is progressively becoming less dependent on debt to grow their business.

Rongsheng Petro Chemical Co LT-Debt-to-Total-Asset Historical Data

The historical data trend for Rongsheng Petro Chemical 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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Rongsheng Petro Chemical Co LT-Debt-to-Total-Asset Chart

Rongsheng Petro Chemical Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

LT-Debt-to-Total-Asset

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0.33

0.27

0.33

0.37

0.33

Rongsheng Petro Chemical Co Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
LT-Debt-to-Total-Asset	Get a 7-Day Free Trial															0.39	0.39	0.37	0.33	0.34

Rongsheng Petro Chemical Co LT-Debt-to-Total-Asset Calculation

Rongsheng Petro Chemical 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 )
	=	125372.586	/	374918.44
	=	0.33

Rongsheng Petro Chemical 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 )
	=	130452.118	/	380804.494
	=	0.34

Rongsheng Petro Chemical Co (SZSE:002493) 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.

Rongsheng Petro Chemical Co LT-Debt-to-Total-Asset Related Terms

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Rongsheng Petro Chemical Co (SZSE:002493) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Chemicals » Rongsheng Petro Chemical Co Ltd (SZSE:002493) » Definitions » LT-Debt-to-Total-Asset

Traded in Other Exchanges

N/A

Address

No.98, Hongyang Road Yinong Town, Xiaoshan District, Hangzhou, CHN

Website

http://www.cnrspc.com

Rongsheng Petro Chemical Co Ltd operates in the petrochemical industry. The company is specialized in the production and marketing of petrochemical and chemical fiber. Its product portfolio comprises synthetic fibers and films, synthetic raw material, synthetic resins, olefin, aromatics and phenols and oil products.

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