Spectral Medical (TSX:EDT) Debt-to-Equity : -0.46 (As of Mar. 2024)

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What is Spectral Medical Debt-to-Equity?

Spectral Medical's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2024 was C$0.40 Mil. Spectral Medical's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2024 was C$8.86 Mil. Spectral Medical's Total Stockholders Equity for the quarter that ended in Mar. 2024 was C$-20.14 Mil. Spectral Medical's debt to equity for the quarter that ended in Mar. 2024 was -0.46.

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 Spectral Medical's Debt-to-Equity or its related term are showing as below:

TSX:EDT' s Debt-to-Equity Range Over the Past 10 Years
Min: -2.83 Med: -0.14 Max: 2.6
Current: -0.46

During the past 13 years, the highest Debt-to-Equity Ratio of Spectral Medical was 2.60. The lowest was -2.83. And the median was -0.14.

TSX:EDT's Debt-to-Equity is not ranked
in the Medical Diagnostics & Research industry.
Industry Median: 0.23 vs TSX:EDT: -0.46

Spectral Medical Debt-to-Equity Historical Data

The historical data trend for Spectral Medical'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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Spectral Medical Debt-to-Equity Chart

Spectral Medical Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Debt-to-Equity

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0.33

-1.00

0.14

-1.60

-0.52

Spectral Medical 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															-1.53	-0.90	-1.21	-0.52	-0.46

Competitive Comparison of Spectral Medical's Debt-to-Equity

For the Diagnostics & Research subindustry, Spectral Medical'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.

Spectral Medical's Debt-to-Equity Distribution in the Medical Diagnostics & Research Industry

For the Medical Diagnostics & Research industry and Healthcare sector, Spectral Medical's Debt-to-Equity distribution charts can be found below:

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

Spectral Medical Debt-to-Equity Calculation

Debt to Equity measures the financial leverage a company has.

Spectral Medical'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
	=	(0.385	+	8.176)	/	-16.549
	=	-0.52

Spectral Medical'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
	=	(0.401	+	8.861)	/	-20.137
	=	-0.46

Spectral Medical (TSX:EDT) 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.

Spectral Medical Debt-to-Equity Related Terms

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Spectral Medical (TSX:EDT) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Diagnostics & Research » Spectral Medical Inc (TSX:EDT) » Definitions » Debt-to-Equity

Comparable Companies

Traded in Other Exchanges

EDTXF:USA SD4:Germany

Address

135 - 2 The West Mall, Finance, Toronto, ON, CAN, M9C 1C2

Website

https://www.spectraldx.com

Spectral Medical Inc is focused on the development and commercialization of a treatment for septic shock utilizing its endotoxin activity assay (EAA) diagnostic and the toraymyxin therapeutic. The company also manufactures and sells proprietary reagents. The product line of the company consists of proprietary biochemical, EAA, and instrumentation. The company has one reporting segment Spectral Medical Inc. The Dialco Medical Inc. operations were considered discontinued by the company.