First Tractor Co (HKSE:00038) Debt-to-Equity : 0.26 (As of Mar. 2024)

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What is First Tractor Co Debt-to-Equity?

First Tractor Co's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2024 was HK$1,827 Mil. First Tractor Co's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2024 was HK$219 Mil. First Tractor Co's Total Stockholders Equity for the quarter that ended in Mar. 2024 was HK$7,922 Mil. First Tractor Co's debt to equity for the quarter that ended in Mar. 2024 was 0.26.

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 First Tractor Co's Debt-to-Equity or its related term are showing as below:

HKSE:00038' s Debt-to-Equity Range Over the Past 10 Years
Min: 0.05 Med: 0.64 Max: 1.15
Current: 0.26

During the past 13 years, the highest Debt-to-Equity Ratio of First Tractor Co was 1.15. The lowest was 0.05. And the median was 0.64.

HKSE:00038's Debt-to-Equity is ranked better than
63.64% of 187 companies
in the Farm & Heavy Construction Machinery industry
Industry Median: 0.41 vs HKSE:00038: 0.26

First Tractor Co Debt-to-Equity Historical Data

The historical data trend for First Tractor Co'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.

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First Tractor Co Debt-to-Equity Chart

First Tractor Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Debt-to-Equity

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0.63

0.65

0.37

0.36

First Tractor Co Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Debt-to-Equity	Get a 7-Day Free Trial															0.05	0.08	0.08	0.36	0.26

Competitive Comparison of First Tractor Co's Debt-to-Equity

For the Farm & Heavy Construction Machinery subindustry, First Tractor Co'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.

First Tractor Co's Debt-to-Equity Distribution in the Farm & Heavy Construction Machinery Industry

For the Farm & Heavy Construction Machinery industry and Industrials sector, First Tractor Co's Debt-to-Equity distribution charts can be found below:

* The bar in red indicates where First Tractor Co's Debt-to-Equity falls into.

First Tractor Co Debt-to-Equity Calculation

Debt to Equity measures the financial leverage a company has.

First Tractor Co'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
	=	(2388.434	+	230.109)	/	7319.23
	=	0.36

First Tractor Co's Debt to Equity Ratio for the quarter that ended in Mar. 2024 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
	=	(1827.189	+	219.156)	/	7922.451
	=	0.26

First Tractor Co (HKSE:00038) 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.

First Tractor Co Debt-to-Equity Related Terms

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First Tractor Co (HKSE:00038) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Farm & Heavy Construction Machinery » First Tractor Co Ltd (HKSE:00038) » Definitions » Debt-to-Equity

Comparable Companies

Traded in Other Exchanges

FIRRF:USA 601038:China

Address

No. 154 Jianshe Road, Henan Province, Luoyang, CHN, 471004

Website

http://www.first-tractor.com.cn

First Tractor Co Ltd is a Chinese company engaged in the agricultural machinery manufacturing industry. Its business scope mainly includes manufacturing and selling agricultural machinery, diesel engines and fuel injections, other machinery, and an operating business of a finance company. It has four reporting divisions. The Agricultural Machinery division, which is the key revenue driver, is responsible for the production and sale of agricultural tractors, harvesters, and others. The power machinery division is mainly responsible for producing and selling diesel engines. The financial business is to handle the member units between the entrusted loans and investment, internal transfer settlement, absorption of member units deposits, and other business.

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