Mitre Mining (ASX:MMC) Cash-to-Debt : 100.19 (As of Dec. 2023)

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What is Mitre Mining 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. Mitre Mining's cash to debt ratio for the quarter that ended in Dec. 2023 was 100.19.

If Cash to Debt ratio is greater than 1, the company can pay off its debt using the cash in hand. Here we can see, Mitre Mining could pay off its debt using the cash in hand for the quarter that ended in Dec. 2023.

The historical rank and industry rank for Mitre Mining's Cash-to-Debt or its related term are showing as below:

ASX:MMC' s Cash-to-Debt Range Over the Past 10 Years
Min: 75.75 Med: 86.42 Max: 100.19
Current: 100.19

During the past 2 years, Mitre Mining's highest Cash to Debt Ratio was 100.19. The lowest was 75.75. And the median was 86.42.

ASX:MMC's Cash-to-Debt is ranked better than
59.86% of 2651 companies
in the Metals & Mining industry
Industry Median: 17.71 vs ASX:MMC: 100.19

Mitre Mining Cash-to-Debt Historical Data

The historical data trend for Mitre Mining'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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Mitre Mining Cash-to-Debt Chart

Mitre Mining Annual Data

Trend

Jun22

Jun23

Cash-to-Debt

84.28

86.42

Mitre Mining Semi-Annual Data
	Dec21	Jun22	Dec22	Jun23	Dec23
Cash-to-Debt	95.31	84.28	75.75	86.42	100.19

Competitive Comparison of Mitre Mining's Cash-to-Debt

For the Gold subindustry, Mitre Mining'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.

Mitre Mining's Cash-to-Debt Distribution in the Metals & Mining Industry

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

* The bar in red indicates where Mitre Mining's Cash-to-Debt falls into.

Mitre Mining Cash-to-Debt Calculation

This is the ratio of a company's Cash, Cash Equivalents, Marketable Securities 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.

Mitre Mining's Cash to Debt Ratio for the fiscal year that ended in Jun. 2023 is calculated as:

Cash to Debt Ratio	=	Cash, Cash Equivalents, Marketable Securities	/	Total Debt
	=	Cash, Cash Equivalents, Marketable Securities	/	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)
	=	2.679	/	(0.011	+	0.02)
	=	86.42

Mitre Mining's Cash to Debt Ratio for the quarter that ended in Dec. 2023 is calculated as:

Cash to Debt Ratio	=	Cash, Cash Equivalents, Marketable Securities	/	Total Debt
	=	Cash, Cash Equivalents, Marketable Securities	/	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)
	=	2.605	/	(0.011	+	0.015)
	=	100.19

Mitre Mining (ASX:MMC) 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.

Mitre Mining Cash-to-Debt Related Terms

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Mitre Mining (ASX:MMC) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Mitre Mining Corp Ltd (ASX:MMC) » Definitions » Cash-to-Debt

Comparable Companies

Traded in Other Exchanges

N/A

Address

8 Richardson Street, Level 2, West Perth, Perth, VIC, AUS, 6005

Website

https://www.mitremining.com.au

Mitre Mining Corp Ltd is a gold and base metals exploration company in Australia. Its project is EL9146 in the eastern Lachlan Fold Belt near Batemans Bay on the New South Wales south coast, East Pilbara, and Mt Alexander project.