Norris Industries (Norris Industries) LT-Debt-to-Total-Asset : 9.17 (As of Feb. 2024)

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What is Norris Industries LT-Debt-to-Total-Asset?

LT Debt to Total Assets is a measurement representing the percentage of a corporation's assets that are financed with loans and financial obligations lasting more than one year. The ratio provides a general measure of the financial position of a company, including its ability to meet financial requirements for outstanding loans. It is calculated as a company's Long-Term Debt & Capital Lease Obligationdivide by its Total Assets. Norris Industries's long-term debt to total assests ratio for the quarter that ended in Feb. 2024 was 9.17.

Norris Industries's long-term debt to total assets ratio declined from Feb. 2023 (11.54) to Feb. 2024 (9.17). It may suggest that Norris Industries is progressively becoming less dependent on debt to grow their business.

Norris Industries LT-Debt-to-Total-Asset Historical Data

The historical data trend for Norris Industries's LT-Debt-to-Total-Asset 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.

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Norris Industries LT-Debt-to-Total-Asset Chart

Norris Industries Annual Data

Trend

Feb15

Feb16

Feb17

Feb18

Feb19

Feb20

Feb21

Feb22

Feb23

Feb24

LT-Debt-to-Total-Asset

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3.16

7.73

9.30

11.54

9.17

Norris Industries Quarterly Data
	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24
LT-Debt-to-Total-Asset	Get a 7-Day Free Trial															11.54	17.33	15.13	20.50	9.17

Norris Industries LT-Debt-to-Total-Asset Calculation

Norris Industries's Long-Term Debt to Total Asset Ratio for the fiscal year that ended in Feb. 2024 is calculated as

LT Debt to Total Assets (A: Feb. 2024 )	=	Long-Term Debt & Capital Lease Obligation (A: Feb. 2024 )	/	Total Assets (A: Feb. 2024 )
	=	4.2	/	0.458
	=	9.17

Norris Industries's Long-Term Debt to Total Asset Ratio for the quarter that ended in Feb. 2024 is calculated as

LT Debt to Total Assets (Q: Feb. 2024 )	=	Long-Term Debt & Capital Lease Obligation (Q: Feb. 2024 )	/	Total Assets (Q: Feb. 2024 )
	=	4.2	/	0.458
	=	9.17

Norris Industries (OTCPK:NRIS) LT-Debt-to-Total-Asset Explanation

LT Debt to Total Asset is a measurement representing the percentage of a corporation's assets that are financed with loans and financial obligations lasting more than one year. The ratio provides a general measure of the financial position of a company, including its ability to meet financial requirements for outstanding loans. A year-over-year decrease in this metric would suggest the company is progressively becoming less dependent on debt to grow their business.

Norris Industries LT-Debt-to-Total-Asset Related Terms

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Norris Industries (Norris Industries) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Norris Industries Inc (OTCPK:NRIS) » Definitions » LT-Debt-to-Total-Asset

Comparable Companies

Traded in Other Exchanges

N/A

Address

102 Palo Pinto Street, Suite B, Weatherford, TX, USA, 76086

Website

http://www.iwpetroleum.com

Norris Industries Inc is an oil and gas exploration company managed by business and oil and gas exploration veterans specializing in the oil and gas acquisition and exploration markets of the Central West Texas region. The company is engaged in the acquisition, development, and exploration of crude oil and natural gas properties. Its projects include Dawson in Permian Basin, Bend Arch Tiger in Central West Texas, Guadalupe in South Texas, Bend Arch Lion 1A, and Bend Arch Lion 1B in Central West Texas, and Marshall Walden in East Texas.

Executives

Patrick L. Norris	director, 10 percent owner, officer: CEO, Pres, Sec, Treasurer	409 TERRELL CRT, NEW IBERIA LA 90563
Ross Henry Ramsey	director, officer: President, CEO, CFO	401 BOYD DR #3116, GRAPEVINE TX 76051
Benjamin B Tran	director	49 MONTEREY PINE DR., NEWPORT COAST CA 92657

Norris Industries (Norris Industries) Headlines

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Norris Industries Releases Shareholder Update with Expansion Plan

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