Zhejiang Xinao Textiles (SHSE:603889) Cash-to-Debt : 0.56 (As of Mar. 2024)

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What is Zhejiang Xinao Textiles 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. Zhejiang Xinao Textiles's cash to debt ratio for the quarter that ended in Mar. 2024 was 0.56.

If Cash to Debt ratio is less than 1, the company cannot pay off its debt using the cash in hand. Here we can see, Zhejiang Xinao Textiles couldn't pay off its debt using the cash in hand for the quarter that ended in Mar. 2024.

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

SHSE:603889' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.53 Med: 1.54 Max: No Debt
Current: 0.56

During the past 13 years, Zhejiang Xinao Textiles's highest Cash to Debt Ratio was No Debt. The lowest was 0.53. And the median was 1.54.

SHSE:603889's Cash-to-Debt is ranked better than
53.84% of 1016 companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 0.48 vs SHSE:603889: 0.56

Zhejiang Xinao Textiles Cash-to-Debt Historical Data

The historical data trend for Zhejiang Xinao Textiles'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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Zhejiang Xinao Textiles Cash-to-Debt Chart

Zhejiang Xinao Textiles Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Cash-to-Debt

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2.23

2.84

1.30

1.45

0.97

Zhejiang Xinao Textiles Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Cash-to-Debt	Get a 7-Day Free Trial															1.08	0.83	0.77	0.97	0.56

Competitive Comparison of Zhejiang Xinao Textiles's Cash-to-Debt

For the Textile Manufacturing subindustry, Zhejiang Xinao Textiles'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.

Zhejiang Xinao Textiles's Cash-to-Debt Distribution in the Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Zhejiang Xinao Textiles's Cash-to-Debt distribution charts can be found below:

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

Zhejiang Xinao Textiles 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.

Zhejiang Xinao Textiles's Cash to Debt Ratio for the fiscal year 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)
	=	1165.063	/	(820.458	+	380.323)
	=	0.97

Zhejiang Xinao Textiles's Cash to Debt Ratio for the quarter that ended in Mar. 2024 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)
	=	790.438	/	(870.809	+	531.171)
	=	0.56

Zhejiang Xinao Textiles (SHSE:603889) 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.

Zhejiang Xinao Textiles Cash-to-Debt Related Terms

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

Zhejiang Xinao Textiles (SHSE:603889) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Manufacturing - Apparel & Accessories » Zhejiang Xinao Textiles Inc (SHSE:603889) » Definitions » Cash-to-Debt

Traded in Other Exchanges

N/A

Address

Guanzhuang Bridge, Chongfu Town, Zhejiang Province, Tongxiang City, CHN, 314511

Website

http://www.chinaxinaogroup.com

Zhejiang Xinao Textiles Inc along with its subsidiaries is engaged in research, development, production & sales of worsted yarn. Its products are worsted yarn & intermediate products of wool tops used in the downstream textile & clothing sector.

Executives

Liu Pei Yi	Directors, senior managers
Hua Xin Zhong	Directors, senior managers
Shen Jian Bo	Directors, senior managers
Chen Xing	senior management
Wang Ling Hua	Directors, senior managers
Yu Xiao Lu	senior management
Shen Jian Hua	Director
Ping Fen	Supervisors
Chen Xue Ming	Supervisors
Zhou Xiao Tian	Director
Li Xin Xue	Director
Zhu Gen Ming	Director
Wang Ru Ming	Supervisors
Tan Lian Gen	senior management
Shen Juan Fen	Director

Zhejiang Xinao Textiles (SHSE:603889) Headlines

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