SolarBank (NEOE:SUNN) Cash-to-Debt : 6.08 (As of Dec. 2023)

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What is SolarBank 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. SolarBank's cash to debt ratio for the quarter that ended in Dec. 2023 was 6.08.

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, SolarBank 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 SolarBank's Cash-to-Debt or its related term are showing as below:

NEOE:SUNN' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.44 Med: 3.87 Max: 9.2
Current: 6.08

During the past 2 years, SolarBank's highest Cash to Debt Ratio was 9.20. The lowest was 0.44. And the median was 3.87.

NEOE:SUNN's Cash-to-Debt is ranked better than
88.29% of 427 companies
in the Utilities - Independent Power Producers industry
Industry Median: 0.23 vs NEOE:SUNN: 6.08

SolarBank Cash-to-Debt Historical Data

The historical data trend for SolarBank'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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SolarBank Cash-to-Debt Chart

SolarBank Annual Data

Trend

Jun22

Jun23

Cash-to-Debt

0.44

6.73

SolarBank Quarterly Data
	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Cash-to-Debt	Get a 7-Day Free Trial				0.81	9.20	6.73	1.67	6.08

Competitive Comparison of SolarBank's Cash-to-Debt

For the Utilities - Renewable subindustry, SolarBank'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.

SolarBank's Cash-to-Debt Distribution in the Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, SolarBank's Cash-to-Debt distribution charts can be found below:

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

SolarBank 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.

SolarBank'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)
	=	7.299	/	(0.196	+	0.888)
	=	6.73

SolarBank'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)
	=	25.135	/	(0.501	+	3.636)
	=	6.08

SolarBank (NEOE:SUNN) 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.

SolarBank Cash-to-Debt Related Terms

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SolarBank (NEOE:SUNN) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Independent Power Producers » SolarBank Corp (NEOE:SUNN) » Definitions » Cash-to-Debt

Comparable Companies

Traded in Other Exchanges

SUUNF:USA GY2:Germany

Address

505 Consumers Road, Suite 803, Toronto, ON, CAN, M2J 4Z2

Website

https://www.solarbankcorp.com

SolarBank Corp is an independent renewable and clean energy project developer and asset operator based in Canada and the United States. It is engaged in the development and operation of solar photovoltaic power generation projects in the province of Ontario and the state of New York. The company operates in two principal geographical areas - Canada and United States with a substantial portion of its overall revenue being generated from United States.

SolarBank (NEOE:SUNN) Headlines

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