Cleo Diagnostics (ASX:COV) Cash-to-Debt : No Debt ⁽¹⁾ (As of Dec. 2023)

View and export this data going back to 2023. Start your Free Trial

What is Cleo Diagnostics Cash-to-Debt?

Cash to Debt Ratio measures the financial strength of a company. It is calculated as a company's cash, cash equivalents, and marketable securities divide by its debt. Cleo Diagnostics's cash to debt ratio for the quarter that ended in Dec. 2023 was No Debt ⁽¹⁾.

If Cash to Debt ratio is greater than 1, the company can pay off its debt using the cash in hand. Here we can see, Cleo Diagnostics could pay off its debt using the cash in hand for the quarter that ended in Dec. 2023.

(1) Note: An indication of "No Debt" does not necessarily mean that the company has no debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.

The historical rank and industry rank for Cleo Diagnostics's Cash-to-Debt or its related term are showing as below:

ASX:COV' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.15 Med: 0.53 Max: No Debt
Current: 6.32

During the past 1 years, Cleo Diagnostics's highest Cash to Debt Ratio was No Debt. The lowest was 0.15. And the median was 0.53.

ASX:COV's Cash-to-Debt is ranked better than
67.83% of 861 companies
in the Medical Devices & Instruments industry
Industry Median: 1.91 vs ASX:COV: 6.32

Cleo Diagnostics Cash-to-Debt Historical Data

The historical data trend for Cleo Diagnostics's Cash-to-Debt 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.

Note: An indication of "No Debt" does not necessarily mean that the company has no debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.

* Premium members only.

Cleo Diagnostics Cash-to-Debt Chart

Cleo Diagnostics Annual Data

Trend

Jun23

Cash-to-Debt

0.15

Cleo Diagnostics Semi-Annual Data
	Dec22	Jun23	Dec23
Cash-to-Debt	0.53	0.15	No Debt

Competitive Comparison of Cleo Diagnostics's Cash-to-Debt

For the Medical Devices subindustry, Cleo Diagnostics's Cash-to-Debt, along with its competitors' market caps and Cash-to-Debt 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.

Cleo Diagnostics's Cash-to-Debt Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Cleo Diagnostics's Cash-to-Debt distribution charts can be found below:

* The bar in red indicates where Cleo Diagnostics's Cash-to-Debt falls into.

Cleo Diagnostics Cash-to-Debt Calculation

This is the ratio of a company's Cash, Cash Equivalents, Marketable Securities to its debt. The debt includes the Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation. This ratio measures the financial strength of a company. This ratio is updated quarterly.

Cleo Diagnostics's Cash to Debt Ratio for the fiscal year that ended in Jun. 2023 is calculated as:

Cash to Debt Ratio	=	Cash, Cash Equivalents, Marketable Securities	/	Total Debt
	=	Cash, Cash Equivalents, Marketable Securities	/	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)
	=	0.24	/	(1.6	+	0)
	=	0.15

Cleo Diagnostics's Cash to Debt Ratio for the quarter that ended in Dec. 2023 is calculated as:

Cleo Diagnostics had no debt ⁽¹⁾.

Cleo Diagnostics (ASX:COV) Cash-to-Debt Explanation

If Cash to Debt ratio is greater than 1, the company can pay off its debt using the cash in hand. If it is smaller than 1, it means the company has more debt than the cash in hands. In this case, it is important to look the the company's Interest Coverage. Ben Graham requires that a company must have an Interest Coverage of at least 5.

Cleo Diagnostics Cash-to-Debt Related Terms

Thank you for viewing the detailed overview of Cleo Diagnostics's Cash-to-Debt provided by GuruFocus.com. Please click on the following links to see related term pages.

Cleo Diagnostics (ASX:COV) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Cleo Diagnostics Ltd (ASX:COV) » Definitions » Cash-to-Debt

Comparable Companies

Traded in Other Exchanges

N/A

Address

480 Collins Street, Level 2, Melbourne, VIC, AUS, 3000

Website

https://www.cleodx.com

Cleo Diagnostics Ltd is focused on the development of non-invasive blood-based IVD tests to detect the presence, and recurrence, of ovarian cancer. The Company's first product to market is intended to be the Triage Test which has to date produced strong results to accurately differentiate patients with malignant ovarian cancer from those with benign gynaecological conditions. The Company aims to improve the diagnostic process and procedures for detecting ovarian cancer and, in this regard, improve quality-of-life outcomes for patients who have been diagnosed with ovarian cancer.

Cleo Diagnostics (ASX:COV) Headlines

No Headlines

Cleo Diagnostics (ASX:COV) Cash-to-Debt : No Debt (1) (As of Dec. 2023)