MainStay MacKay DefinedTerm Municipal Opportunities Fund (MainStay MacKay DefinedTerm Municipal Opportunities Fund) Cash-to-Debt : 0.04 (As of Nov. 2023)

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What is MainStay MacKay DefinedTerm Municipal Opportunities 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. MainStay MacKay DefinedTerm Municipal Opportunities Fund's cash to debt ratio for the quarter that ended in Nov. 2023 was 0.04.

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, MainStay MacKay DefinedTerm Municipal Opportunities Fund couldn't pay off its debt using the cash in hand for the quarter that ended in Nov. 2023.

The historical rank and industry rank for MainStay MacKay DefinedTerm Municipal Opportunities Fund's Cash-to-Debt or its related term are showing as below:

MMD' s Cash-to-Debt Range Over the Past 10 Years
Min: 0 Med: 0.02 Max: 0.11
Current: 0.04

During the past 6 years, MainStay MacKay DefinedTerm Municipal Opportunities Fund's highest Cash to Debt Ratio was 0.11. The lowest was 0.00. And the median was 0.02.

MMD's Cash-to-Debt is ranked worse than
91.18% of 1474 companies
in the Asset Management industry
Industry Median: 5.66 vs MMD: 0.04

MainStay MacKay DefinedTerm Municipal Opportunities Fund Cash-to-Debt Historical Data

The historical data trend for MainStay MacKay DefinedTerm Municipal Opportunities 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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MainStay MacKay DefinedTerm Municipal Opportunities Fund Cash-to-Debt Chart

MainStay MacKay DefinedTerm Municipal Opportunities Fund Annual Data

Trend

May18

May19

May20

May21

May22

May23

Cash-to-Debt

Get a 7-Day Free Trial

0.01

0.02

0.01

0.03

MainStay MacKay DefinedTerm Municipal Opportunities Fund Semi-Annual Data
	Nov17	May18	Nov18	May19	Nov19	May20	Nov20	May21	Nov21	May22	Nov22	May23	Nov23
Cash-to-Debt	Get a 7-Day Free Trial								0.04	0.01	0.01	0.03	0.04

Competitive Comparison of MainStay MacKay DefinedTerm Municipal Opportunities Fund's Cash-to-Debt

For the Asset Management subindustry, MainStay MacKay DefinedTerm Municipal Opportunities 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.

MainStay MacKay DefinedTerm Municipal Opportunities Fund's Cash-to-Debt Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, MainStay MacKay DefinedTerm Municipal Opportunities Fund's Cash-to-Debt distribution charts can be found below:

* The bar in red indicates where MainStay MacKay DefinedTerm Municipal Opportunities Fund's Cash-to-Debt falls into.

MainStay MacKay DefinedTerm Municipal Opportunities 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.

MainStay MacKay DefinedTerm Municipal Opportunities Fund's Cash to Debt Ratio for the fiscal year that ended in May. 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)
	=	7.746	/	(0	+	262.11)
	=	0.03

MainStay MacKay DefinedTerm Municipal Opportunities Fund's Cash to Debt Ratio for the quarter that ended in Nov. 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)
	=	7.132	/	(0	+	190.51)
	=	0.04

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) 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.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Cash-to-Debt Related Terms

Thank you for viewing the detailed overview of MainStay MacKay DefinedTerm Municipal Opportunities Fund's Cash-to-Debt provided by GuruFocus.com. Please click on the following links to see related term pages.

MainStay MacKay DefinedTerm Municipal Opportunities Fund (MainStay MacKay DefinedTerm Municipal Opportunities Fund) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) » Definitions » Cash-to-Debt

Comparable Companies

Traded in Other Exchanges

N/A

Address

51 Madison Avenue, New York, NY, USA, 10010

Website

https://www.nylinvestments.com

MainStay MacKay DefinedTerm Municipal Opportunities Fund is a USA-based diversified closed-end management investment company. The fund's investment objective is to seek current income exempt from regular U.S. Federal income taxes as well as total return. The company may also invest in TOB (Tender Option Bonds) Floaters and TOB Residuals issued by the TOB Issuer. It evaluates its performance against Barclays Municipal Bond Index.

Executives

Michael Denlinger	other: Portfolio Manager	1345 AVENUE OF THE AMERICAS, NEW YORK NY 10105
Naim Abou-jaoude	other: CEO, NY LIFE INVEST MGMENT LLC	200 ALDERSGATE STREET, C/O CANDRIAM, NORTH ENTRANCE, LONDON X0 EC1A4HD
Michael Petty	other: Portfolio Manager	1345 AVENUE OF THE AMERICAS, NEW YORK NY 10105
Alain M Karaoglan	other: Chairman & Interim CEO	230 PARK AVENUE, NEW YORK NY 10169
Kevin M Gleason	officer: Chief Compliance Officer	30 HUDSON STREET, JERSEY CITY NJ 07302
Robert A Dimella	other: Portfolio Manager	1345 AVENUE OF THE AMERICAS, NEW YORK NY 10105
Scott Sprauer	other: Portfolio Manager	1345 AVENUE OF THE AMERICAS, NEW YORK NY 10105
Karen Hammond	other: Advisory Board Member	1601 UTICA AVENUE SOUTH, SUITE 900, ST. LOUIS PARK MN 55416
Yie-hsin Hung	other: Executive Vice President	30 HUDSON STREET, JERSEY CITY NJ 07302
Jeffrey S Phlegar	other: CEO of Subadvisor
Yi-chia Kuo	officer: Chief Compliance Officer	30 HUDSON STREET, JERSEY CITY NJ 07302
Nolan Richard H Jr	director	51 MADISON AVENUE, NEW YORK NY 10010
John J Lawlor	other: Portfolio Manager	1345 AVENUE OF THE AMERICAS, NEW YORK NY 10105
Kirk C Lehneis	officer: President	51 MADISON AVENUE, NEW YORK NY 10010
Stephen P. Fisher	officer: President	169 LACKAWANNA AVENUE, PARSIPPANY NJ 07054