Giga Metals (TSXV:GIGA) Cash-to-Debt : 7.20 (As of Mar. 2024)

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What is Giga Metals 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. Giga Metals's cash to debt ratio for the quarter that ended in Mar. 2024 was 7.20.

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, Giga Metals could pay off its debt using the cash in hand for the quarter that ended in Mar. 2024.

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

TSXV:GIGA' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.35 Med: 88.26 Max: No Debt
Current: 7.2

During the past 13 years, Giga Metals's highest Cash to Debt Ratio was No Debt. The lowest was 0.35. And the median was 88.26.

TSXV:GIGA's Cash-to-Debt is ranked worse than
53.43% of 2652 companies
in the Metals & Mining industry
Industry Median: 17.895 vs TSXV:GIGA: 7.20

Giga Metals Cash-to-Debt Historical Data

The historical data trend for Giga Metals'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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Giga Metals Cash-to-Debt Chart

Giga Metals Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Cash-to-Debt

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5.60

14.64

8.78

26.69

10.94

Giga Metals 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															23.37	15.46	14.88	10.94	7.20

Competitive Comparison of Giga Metals's Cash-to-Debt

For the Other Industrial Metals & Mining subindustry, Giga Metals'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.

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

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

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

Giga Metals 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.

Giga Metals'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)
	=	1.521	/	(0.109	+	0.03)
	=	10.94

Giga Metals'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)
	=	0.821	/	(0.114	+	0)
	=	7.20

Giga Metals (TSXV:GIGA) 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.

Giga Metals Cash-to-Debt Related Terms

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

Giga Metals (TSXV:GIGA) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Giga Metals Corp (TSXV:GIGA) » Definitions » Cash-to-Debt

Comparable Companies

Traded in Other Exchanges

GIGGF:USA BRR2:Germany

Address

700 West Pender Street, Suite 203, Vancouver, BC, CAN, V6C 1G8

Website

https://www.gigametals.com

Giga Metals Corp is engaged in the acquisition and exploration of mineral properties in Canada. The company is focused on two of the key metals used in the batteries of electric vehicles: Nickel and Cobalt. It is developing the Turnagain deposit, a giant nickel sulphide deposit in north-central British Columbia, Canada.

Executives

Lyle Roy Davis

Director

Giga Metals (TSXV:GIGA) Headlines

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