First Trust Highome Long/Short Fund (First Trust Highome Long/Short Fund) Cash-to-Debt : 0.42 (As of Oct. 2023)

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What is First Trust Highome Long/Short Fund 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. First Trust Highome Long/Short Fund's cash to debt ratio for the quarter that ended in Oct. 2023 was 0.42.

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, First Trust Highome Long/Short Fund couldn't pay off its debt using the cash in hand for the quarter that ended in Oct. 2023.

The historical rank and industry rank for First Trust Highome Long/Short Fund's Cash-to-Debt or its related term are showing as below:

FSD' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.01 Med: 0.29 Max: 0.83
Current: 0.42

During the past 7 years, First Trust Highome Long/Short Fund's highest Cash to Debt Ratio was 0.83. The lowest was 0.01. And the median was 0.29.

FSD's Cash-to-Debt is ranked worse than
67.75% of 1476 companies
in the Asset Management industry
Industry Median: 5.445 vs FSD: 0.42

First Trust Highome Long/Short Fund Cash-to-Debt Historical Data

The historical data trend for First Trust Highome Long/Short Fund'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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First Trust Highome Long/Short Fund Cash-to-Debt Chart

First Trust Highome Long/Short Fund Annual Data

Trend

Oct17

Oct18

Oct19

Oct20

Oct21

Oct22

Oct23

Cash-to-Debt

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0.83

0.27

0.29

0.61

0.42

First Trust Highome Long/Short Fund Semi-Annual Data
	Oct17	Apr18	Oct18	Apr19	Oct19	Apr20	Oct20	Apr21	Oct21	Apr22	Oct22	Apr23	Oct23
Cash-to-Debt	Get a 7-Day Free Trial								0.29	0.17	0.61	0.33	0.42

Competitive Comparison of First Trust Highome Long/Short Fund's Cash-to-Debt

For the Asset Management subindustry, First Trust Highome Long/Short Fund'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.

First Trust Highome Long/Short Fund's Cash-to-Debt Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, First Trust Highome Long/Short Fund's Cash-to-Debt distribution charts can be found below:

* The bar in red indicates where First Trust Highome Long/Short Fund's Cash-to-Debt falls into.

First Trust Highome Long/Short Fund Cash-to-Debt Calculation

This is the ratio of a company's Balance Sheet Cash And Cash Equivalents 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.

First Trust Highome Long/Short Fund's Cash to Debt Ratio for the fiscal year that ended in Oct. 2023 is calculated as:

Cash to Debt Ratio	=	Balance Sheet Cash And Cash Equivalents	/	Total Debt
	=	Balance Sheet Cash And Cash Equivalents	/	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)
	=	59.855	/	(0	+	143.655)
	=	0.42

First Trust Highome Long/Short Fund's Cash to Debt Ratio for the quarter that ended in Oct. 2023 is calculated as:

Cash to Debt Ratio	=	Balance Sheet Cash And Cash Equivalents	/	Total Debt
	=	Balance Sheet Cash And Cash Equivalents	/	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)
	=	59.855	/	(0	+	143.655)
	=	0.42

First Trust Highome Long/Short Fund (NYSE:FSD) 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.

First Trust Highome Long/Short Fund Cash-to-Debt Related Terms

Thank you for viewing the detailed overview of First Trust Highome Long/Short Fund's Cash-to-Debt provided by GuruFocus.com. Please click on the following links to see related term pages.

First Trust Highome Long/Short Fund (First Trust Highome Long/Short Fund) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » First Trust High Income Long/Short Fund (NYSE:FSD) » Definitions » Cash-to-Debt

Comparable Companies

Traded in Other Exchanges

N/A

Address

120 East Liberty Drive, Suite 400, Wheaton, IL, USA, 60187

Website

https://www.ftportfolios.com

First Trust High Income Long/Short Fund is a diversified, closed-end management investment company based in the United States. The fund's objective is to provide a high current income to its investors. Its secondary objective is capital appreciation. It seeks to achieve its objectives by investing in a diversified portfolio in the United States. The fund holds an interest in various sectors, such as basic industry, healthcare, capital goods, telecommunications, automotive, banking, media, energy, leisure, insurance, technology and electronics, transportation, financial services and others.

Executives

Bronwyn Wright	director	FIRST TRUST ADVISORS L.P., 120 EAST LIBERTY DRIVE, SUITE 400, WHEATON IL 60187
Cameron S White	other: Portfolio Manager Sub-Advisor	MACKAY SHIELDS, 1345 AVENUE OF THE AMERICAS, NEW YORK NY 10105
M Keefe Denise	director	C/O FIRST TRUST ADVISORS L.P., 120 EAST LIBERTY DRIVE, SUITE 400, WHEATON IL 60187
Eric Gold	other: Portfolio Manager Sub-Advisor	C/O MACKAY SHIELDS LLC, 1345 AVENUE OF THE AMERICAS, NEW YORK NY 10105
Kelly Catherine Dehler	other: Officer - Investment Advisor	C/O FIRST TRUST ADVISORS L.P., 120 EAST LIBERTY DRIVE, SUITE 400, WHEATON IL 60187
Scott Michael Friske	other: Officer - Investment Advisor	FIRST TRUST ADVISORS L.P., 120 EAST LIBERTY DRIVE, SUITE 400, WHEATON IL 60187
Shu Yang Tan	other: Portfolio Mgr. Sub-Advisor	MACKAY SHIELDS LLC, 1345 AVENUE OF THE AMERICAS, 43RD FL, NEW YORK NY 10105
Matthew Lowry Jacob	other: Portfolio Mgr. Sub-Advisor	MACKAY SHIELDS LLC, 1345 AVENUE OF THE AMERICAS, 43RD FL, NEW YORK NY 10105
Joseph Raymond Cantwell	other: Portfolio Mgr. Sub-Advisor	ALCENTRA NY, LLC, 200 PARK AVENUE, NEW YORK NY 10106
Saba Capital Management, L.p.	10 percent owner	405 LEXINGTON AVENUE, 58TH FLOOR, NEW YORK NY 10174
Boaz Weinstein	10 percent owner	405 LEXINGTON AVENUE, 58TH FLOOR, NEW YORK NY 10174
David Mcgarel	other: Officer - Investment Adviser	C/O FIRST TRUST ADVISORS LP, 120 EAST LIBERTY DRIVE, SUITE 400, WHEATON IL 60187
James A Bowen	director, officer: President, other: Officer - Investment Adviser	C/O FIRST TRUST ADVISORS LP, 120 EAST LIBERTY DRIVE, SUITE 400, WHEATON IL 60187
Louis N. Cohen	other: Member of Investment Team	MACKAY SHIELDS LLC, 1345 AVENUE OF THE AMERICAS, NEW YORK NY 10105
Shane Shannon	officer: Assistant Secretary	FIRST TRUST ADVISORS L.P., 120 EAST LIBERTY DRIVE, SUITE 400, WHEATON IL 60187