Mackinac Financial (Mackinac Financial) Cash-to-Debt : 12.09 (As of Jun. 2021)

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What is Mackinac Financial 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. Mackinac Financial's cash to debt ratio for the quarter that ended in Jun. 2021 was 12.09.

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, Mackinac Financial could pay off its debt using the cash in hand for the quarter that ended in Jun. 2021.

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

MFNC' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.1 Med: 0.53 Max: 12.09
Current: 12.09

During the past 13 years, Mackinac Financial's highest Cash to Debt Ratio was 12.09. The lowest was 0.10. And the median was 0.53.

MFNC's Cash-to-Debt is not ranked
in the Banks industry.
Industry Median: 1.29 vs MFNC: 12.09

Mackinac Financial Cash-to-Debt Historical Data

The historical data trend for Mackinac Financial'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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Mackinac Financial Cash-to-Debt Chart

Mackinac Financial Annual Data

Trend

Dec11

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Cash-to-Debt

Get a 7-Day Free Trial

0.87

0.64

1.35

0.93

3.49

Mackinac Financial Quarterly Data
	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21
Cash-to-Debt	Get a 7-Day Free Trial															1.17	2.82	3.49	4.53	12.09

Competitive Comparison of Mackinac Financial's Cash-to-Debt

For the Banks - Regional subindustry, Mackinac Financial'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.

Mackinac Financial's Cash-to-Debt Distribution in the Banks Industry

For the Banks industry and Financial Services sector, Mackinac Financial's Cash-to-Debt distribution charts can be found below:

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

Mackinac Financial 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.

Mackinac Financial's Cash to Debt Ratio for the fiscal year that ended in Dec. 2020 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)
	=	221.818	/	(0	+	63.479)
	=	3.49

Mackinac Financial's Cash to Debt Ratio for the quarter that ended in Jun. 2021 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)
	=	343.863	/	(0	+	28.441)
	=	12.09

Mackinac Financial (NAS:MFNC) 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.

Mackinac Financial Cash-to-Debt Related Terms

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

Mackinac Financial (Mackinac Financial) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Mackinac Financial Corp (NAS:MFNC) » Definitions » Cash-to-Debt

Comparable Companies

Traded in Other Exchanges

N/A

Address

130 South Cedar Street, Manistique, MI, USA, 49854

Website

http://www.bankmbank.com

Mackinac Financial Corp is a bank holding company. It is engaged in the business of retail and commercial banking. Its products and services include checking and savings accounts, time deposits, interest-bearing transaction accounts, safe deposit facilities, commercial and governmental lease financing and direct, indirect consumer financing, commercial lending, treasury management products, services for small to mid-sized businesses as well as full array of personal and business deposit products and consumer loans. It earns revenue from loans, investments and other interest-bearing assets.

Executives

Paul Davison Tobias	director, officer: Chief Executive Officer	38710 WOODWARD AVENUE, SUITE 240, BLOOMFIELD HILLS MI 48304
Jesse A Deering	officer: EVP and CFO	260 EAST BROWN ST. SUITE 300 BIRMINGHAM MI 48009
Kelly W George	director, officer: President	130 SOUTH CEDAR STREET MANISTIQUE MI 49854
Martin A Thomson	director
Randolph Clare Paschke	director	5700 CASS AVENUE DETROIT MI 48202
Walter J Aspatore	director	255 E BROWN STREET, SUITE 120, BIRMINGHAM MI 48009
Dennis Bittner	director	113 S 10TH ST ESCANADA MI 49829
Steinhardt Capital Management, Llc	10 percent owner	650 MADISON AVENUE, 17TH FLOOR NEW YORK NY 10022
David Russ Steinhardt	director, 10 percent owner	650 MADISON AVENUE, 17TH FLOOR NEW YORK NY 10022
Steinhardt Capital Investors, Lllp	10 percent owner	650 MADISON AVENUE, 17TH FLOOR NEW YORK NY 10022
Mahaney Robert Edward Ii	director	989 WEST WASHINGTON STREET SUITE 102 MARQUETTE MI 49855
Joseph D Garea	director	469 NORTH HANLEY ROAD ST. LOUIS MO 63013
Robert Harris Orley	director	25251 RIVER DRIVE FRANKLIN MI 48025
Lewis Brooks Patterson	director	130 SOUTH CEDAR STREET MANISTIQUE MI 49854
Ernie R Krueger	officer: Executive VP and CFO	130 SOUTH CEDAR STREET MANISTIQUE MI 49854