Neo Performance Materials (TSX:NEO) Cash-to-Debt : 1.89 (As of Mar. 2024)

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What is Neo Performance Materials 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. Neo Performance Materials's cash to debt ratio for the quarter that ended in Mar. 2024 was 1.89.

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

TSX:NEO' s Cash-to-Debt Range Over the Past 10 Years
Min: 1.89 Med: 10.02 Max: 10887.78
Current: 1.89

During the past 8 years, Neo Performance Materials's highest Cash to Debt Ratio was 10887.78. The lowest was 1.89. And the median was 10.02.

TSX:NEO's Cash-to-Debt is ranked better than
67.1% of 1550 companies
in the Chemicals industry
Industry Median: 0.72 vs TSX:NEO: 1.89

Neo Performance Materials Cash-to-Debt Historical Data

The historical data trend for Neo Performance Materials'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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Neo Performance Materials Cash-to-Debt Chart

Neo Performance Materials Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Cash-to-Debt

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18.16

12.10

9.39

2.95

Neo Performance Materials 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															3.96	4.01	3.78	2.95	1.89

Competitive Comparison of Neo Performance Materials's Cash-to-Debt

For the Specialty Chemicals subindustry, Neo Performance Materials'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.

Neo Performance Materials's Cash-to-Debt Distribution in the Chemicals Industry

For the Chemicals industry and Basic Materials sector, Neo Performance Materials's Cash-to-Debt distribution charts can be found below:

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

Neo Performance Materials 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.

Neo Performance Materials'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)
	=	116.578	/	(5.224	+	34.246)
	=	2.95

Neo Performance Materials'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)
	=	137.646	/	(9.125	+	63.895)
	=	1.89

Neo Performance Materials (TSX:NEO) 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.

Neo Performance Materials Cash-to-Debt Related Terms

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Neo Performance Materials (TSX:NEO) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Chemicals » Neo Performance Materials Inc (TSX:NEO) » Definitions » Cash-to-Debt

Comparable Companies

Traded in Other Exchanges

NOPMF:USA N14:Germany

Address

121 King Street West, Suite 1740, Toronto, ON, CAN, M5H 3T9

Website

https://www.neomaterials.com

Neo Performance Materials Inc is engaged in the innovation, development, processing, and manufacturing of rare earth and rare metal-based functional materials. Its operating segments include Magnequench, Chemicals & Oxides, Rare Metals, and Corporate. The Magnequench segment produces magnetic powders used in bonded and hot-deformed, fully dense neodymium-iron-boron magnets. The Chemicals & Oxides segment manufactures and distributes a broad range of industrial materials. The Rare Metals segment produces specialty metals and their compounds, such as tantalum, niobium, hafnium, rhenium, gallium, and indium. Its geographical segments are Asia, North America, Europe, and Others.

Executives

Rahim Suleman

Director, Senior Officer