Summit Minerals (ASX:SUM) Cash-to-Debt : No Debt ⁽¹⁾ (As of Dec. 2023)

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What is Summit Minerals 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. Summit Minerals'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, Summit Minerals 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 Summit Minerals's Cash-to-Debt or its related term are showing as below:

ASX:SUM' s Cash-to-Debt Range Over the Past 10 Years
Min: No Debt Med: No Debt Max: No Debt
Current: No Debt

During the past 1 years, Summit Minerals's highest Cash to Debt Ratio was No Debt. The lowest was No Debt. And the median was No Debt.

ASX:SUM's Cash-to-Debt is ranked better than
99.96% of 2654 companies
in the Metals & Mining industry
Industry Median: 17.81 vs ASX:SUM: No Debt

Summit Minerals Cash-to-Debt Historical Data

The historical data trend for Summit Minerals'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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Summit Minerals Cash-to-Debt Chart

Summit Minerals Annual Data

Trend

Jun23

Cash-to-Debt

No Debt

Summit Minerals Semi-Annual Data
	Dec22	Jun23	Dec23
Cash-to-Debt	No Debt	No Debt	No Debt

Competitive Comparison of Summit Minerals's Cash-to-Debt

For the Other Industrial Metals & Mining subindustry, Summit Minerals'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.

Summit Minerals's Cash-to-Debt Distribution in the Metals & Mining Industry

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

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

Summit Minerals 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.

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

Summit Minerals had no debt ⁽¹⁾.

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

Summit Minerals had no debt ⁽¹⁾.

Summit Minerals (ASX:SUM) 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.

Summit Minerals Cash-to-Debt Related Terms

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Summit Minerals (ASX:SUM) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Summit Minerals Ltd (ASX:SUM) » Definitions » Cash-to-Debt

Comparable Companies

Traded in Other Exchanges

N/A

Address

389 Oxford Street, Level 1, Mount Hawthorn, WA, AUS, 6016

Website

https://www.summitminerals.com.au

Summit Minerals Ltd engages in acquiring, exploring, and developing battery mineral projects in Australia. It holds interest in the following projects: Stallion REE Uranium Project (WA), the Windfall Antimony Project (NSW), the Phillips River Lithium Project (WA), and the Northern REE Lithium Projects (WA), and the Bridgetown Lithium Projects (WA).