Novo Resources (ASX:NVO) Debt-to-Equity : 0.02 (As of Dec. 2023)

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What is Novo Resources Debt-to-Equity?

Novo Resources's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was A$1.30 Mil. Novo Resources's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was A$0.50 Mil. Novo Resources's Total Stockholders Equity for the quarter that ended in Dec. 2023 was A$94.57 Mil. Novo Resources's debt to equity for the quarter that ended in Dec. 2023 was 0.02.

A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.

The historical rank and industry rank for Novo Resources's Debt-to-Equity or its related term are showing as below:

ASX:NVO' s Debt-to-Equity Range Over the Past 10 Years
Min: 0.02 Med: 0.05 Max: 0.26
Current: 0.02

During the past 13 years, the highest Debt-to-Equity Ratio of Novo Resources was 0.26. The lowest was 0.02. And the median was 0.05.

ASX:NVO's Debt-to-Equity is ranked better than
82.91% of 1305 companies
in the Metals & Mining industry
Industry Median: 0.13 vs ASX:NVO: 0.02

Novo Resources Debt-to-Equity Historical Data

The historical data trend for Novo Resources's Debt-to-Equity 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.

* Premium members only.

Novo Resources Debt-to-Equity Chart

Novo Resources Annual Data

Trend

Jan14

Jan15

Jan16

Jan17

Jan18

Jan19

Jan20

Dec21

Dec22

Dec23

Debt-to-Equity

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0.06

0.26

0.04

0.02

Novo Resources Quarterly Data
	Jan19	Apr19	Jul19	Oct19	Jan20	Apr20	Jul20	Oct20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Debt-to-Equity	Get a 7-Day Free Trial															0.04	0.03	0.02	0.01	0.02

Competitive Comparison of Novo Resources's Debt-to-Equity

For the Gold subindustry, Novo Resources's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity 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.

Novo Resources's Debt-to-Equity Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Novo Resources's Debt-to-Equity distribution charts can be found below:

* The bar in red indicates where Novo Resources's Debt-to-Equity falls into.

Novo Resources Debt-to-Equity Calculation

Debt to Equity measures the financial leverage a company has.

Novo Resources's Debt to Equity Ratio for the fiscal year that ended in Dec. 2023 is calculated as

Debt to Equity	=	Total Debt			/	Total Stockholders Equity
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	Total Stockholders Equity
	=	(1.302	+	0.497)	/	94.569
	=	0.02

Novo Resources's Debt to Equity Ratio for the quarter that ended in Dec. 2023 is calculated as

Debt to Equity	=	Total Debt			/	Total Stockholders Equity
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	Total Stockholders Equity
	=	(1.302	+	0.497)	/	94.569
	=	0.02

Novo Resources (ASX:NVO) Debt-to-Equity Explanation

In the calculation of Debt to Equity, we use the total of Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation divided by Total Stockholders Equity. In some calculations, Total Liabilities is used to for calculation.

Be Aware

Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.

Novo Resources Debt-to-Equity Related Terms

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Novo Resources (ASX:NVO) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Novo Resources Corp (ASX:NVO) » Definitions » Debt-to-Equity

Comparable Companies

Traded in Other Exchanges

NSRPF:USA 1NO:Germany NVO:Canada

Address

1199 West Hastings Street, Vancouver, BC, CAN, V6E 3T5

Website

https://www.novoresources.com

Novo Resources Corp is a company engaged in the business of evaluating, acquiring, and exploring natural resource properties with a focus on gold. The organization has business interests in properties located in Australia, Canada, and the USA. Its projects include Beatons Creek Property, Millennium Property, Blue Spec; Paleo-Placer; Comet Well, and others. It has two segments Mining operations and exploration operations.