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Trinidad Drilling (TSX:TDG) Cash Ratio : 0.07 (As of Sep. 2018)


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What is Trinidad Drilling Cash Ratio?

The Cash Ratio measures a company’s ability to meet its short-term obligations with cash and near-cash resources. It is calculated as a company's Cash, Cash Equivalents, Marketable Securities divides by its Total Current Liabilities. Trinidad Drilling's Cash Ratio for the quarter that ended in Sep. 2018 was 0.07.

Trinidad Drilling has a Cash Ratio of 0.07. It indicates that there are more current liabilities than Cash, Cash Equivalents, Marketable Securities, and the company does not have sufficient cash on hand to pay off its short-term debt.

The historical rank and industry rank for Trinidad Drilling's Cash Ratio or its related term are showing as below:

TSX:TDG's Cash Ratio is not ranked *
in the Oil & Gas industry.
Industry Median: 0.41
* Ranked among companies with meaningful Cash Ratio only.

Trinidad Drilling Cash Ratio Historical Data

The historical data trend for Trinidad Drilling's Cash Ratio 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.

Trinidad Drilling Cash Ratio Chart

Trinidad Drilling Annual Data
Trend Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17
Cash Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.80 0.40 0.48 0.32 0.04

Trinidad Drilling Quarterly Data
Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18
Cash Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - 0.04 0.15 0.09 0.07

Competitive Comparison of Trinidad Drilling's Cash Ratio

For the Oil & Gas Drilling subindustry, Trinidad Drilling's Cash Ratio, along with its competitors' market caps and Cash Ratio 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.


Trinidad Drilling's Cash Ratio Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Trinidad Drilling's Cash Ratio distribution charts can be found below:

* The bar in red indicates where Trinidad Drilling's Cash Ratio falls into.



Trinidad Drilling Cash Ratio Calculation

The Cash Ratio measures a company's ability to meet its short-term obligations with its cash and near-cash resources.

Trinidad Drilling's Cash Ratio for the fiscal year that ended in Dec. 2017 is calculated as:

Cash Ratio (A: Dec. 2017 )=Cash, Cash Equivalents, Marketable Securities/Total Current Liabilities
=3.948/107.339
=0.04

Trinidad Drilling's Cash Ratio for the quarter that ended in Sep. 2018 is calculated as:

Cash Ratio (Q: Sep. 2018 )=Cash, Cash Equivalents, Marketable Securities/Total Current Liabilities
=6.765/90.97
=0.07

* 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.


Trinidad Drilling  (TSX:TDG) Cash Ratio Explanation

The cash ratio is more conservative than other liquidity ratios, such as Quick Ratio and Current Ratio, because it only considers a company's most liquid resources. The numerator of cash ratio only considers Cash, Cash Equivalents and marketable securities. Other current assets, such as accounts receivable and inventories, are not included. The rationale is that these assets may require time to be transformed into cash, and the amount of money received is also uncertain.

The cash ratio shows a company’s ability to pay all current liabilities immediately without selling or liquidating other assets. Generally speaking, a higher cash ratio suggests the company has a stronger ability to cover its short-term debt. However, a high cash ratio could also indicate inefficient management: the company is inefficient in making full utilization of cash to invest protential profitable project. It may also suggest that the company is not confident about future profitability.

In general, the higher the cash ratio, the better the company's liquidity position.


Trinidad Drilling Cash Ratio Related Terms

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Trinidad Drilling (TSX:TDG) Business Description

Traded in Other Exchanges
N/A
Address
Trinidad Drilling Ltd is a Canadian company which is engaged in providing drilling services to the oil and natural gas industry. The company's operating segments are Canadian operations which include land drilling services; US and international operations which include land and barge drilling services located in both the US and international markets, excluding all joint venture operations; Joint venture operations which include all international joint venture operations; and Manufacturing operations include manufacturing work performed in each of the Canadian and US manufacturing divisions. The majority of the company's revenue comes from oilfield services.

Trinidad Drilling (TSX:TDG) Headlines