Horizon Gold (ASX:HRN) Cash-to-Debt : 72.00 (As of Dec. 2023)

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What is Horizon Gold 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. Horizon Gold's cash to debt ratio for the quarter that ended in Dec. 2023 was 72.00.

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, Horizon Gold could pay off its debt using the cash in hand for the quarter that ended in Dec. 2023.

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

ASX:HRN' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.29 Med: 39.49 Max: No Debt
Current: 72

During the past 7 years, Horizon Gold's highest Cash to Debt Ratio was No Debt. The lowest was 0.29. And the median was 39.49.

ASX:HRN's Cash-to-Debt is ranked better than
58.25% of 2642 companies
in the Metals & Mining industry
Industry Median: 18.42 vs ASX:HRN: 72.00

Horizon Gold Cash-to-Debt Historical Data

The historical data trend for Horizon Gold'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.

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Horizon Gold Cash-to-Debt Chart

Horizon Gold Annual Data

Trend

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Cash-to-Debt

Get a 7-Day Free Trial

20.88

0.29

No Debt

5.28

5.81

Horizon Gold Semi-Annual Data
	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Cash-to-Debt	Get a 7-Day Free Trial										1.52	5.28	7.95	5.81	72.00

Competitive Comparison of Horizon Gold's Cash-to-Debt

For the Gold subindustry, Horizon Gold'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.

Horizon Gold's Cash-to-Debt Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Horizon Gold's Cash-to-Debt distribution charts can be found below:

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

Horizon Gold 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.

Horizon Gold'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)
	=	0.238	/	(0.041	+	0)
	=	5.80

Horizon Gold's Cash to Debt Ratio for the quarter that ended in Dec. 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)
	=	1.512	/	(0.021	+	0)
	=	72.00

Horizon Gold (ASX:HRN) 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.

Horizon Gold Cash-to-Debt Related Terms

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

Horizon Gold (ASX:HRN) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Horizon Gold Ltd (ASX:HRN) » Definitions » Cash-to-Debt

Comparable Companies

Traded in Other Exchanges

HO0:Germany

Address

47 Havelock Street, Suite 8, Level 3, West Perth, WA, AUS, 6005

Website

https://www.horizongold.com.au

Horizon Gold Ltd is a gold mining company. It is engaged in the acquisition, exploration, and development of gold reserves of the Gum Creek Gold Project in Western Australia. The project covers the Gum Creek Greenstone Belt located within the Southern Cross Province of the Youanmi Terrane In Yilgarn Craton in Western Australia.

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