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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. Azure Power Global's cash to debt ratio for the quarter that ended in Mar. 2024 was 0.06.
If Cash to Debt ratio is less than 1, the company cannot pay off its debt using the cash in hand. Here we can see, Azure Power Globalcouldn't pay off its debt using the cash in hand for the quarter that ended in Mar. 2024.
The historical rank and industry rank for Azure Power Global's Cash-to-Debt or its related term are showing as below:
AZREF's Cash-to-Debt is not ranked *
in the Utilities - Independent Power Producers industry.
Industry Median: 0.22 * Ranked among companies with meaningful Cash-to-Debt only.
Azure Power Global (OTCPK:AZREF) 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.
Azure Power Global Cash-to-Debt Related Terms
Azure Power Global Cash-to-Debt Historical Data
* Premium members only.
The historical data trend for Azure Power Global'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.
AZREF vs SAFX, VGAS, STEM: Cash-to-Debt Comparison
For the Utilities - Renewable subindustry, Azure Power Global'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.
Azure Power Global Cash-to-Debt vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Azure Power Global's Cash-to-Debt distribution charts can be found below:
* The bar in red indicates where Azure Power Global's Cash-to-Debt falls into.
* 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.
Azure Power Global (AZREF) has a Cash-to-Debt of 0.06 as of Mar. 2024.
Is Azure Power Global's Cash-to-Debt too high?
Azure Power Global's current Cash-to-Debt is 0.06. The Utilities - Independent Power Producers industry median Cash-to-Debt is 0.22. Azure Power Global's value of 0.06 is 72.7% below this industry median. Overall, Azure Power Global has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Azure Power Global's Cash-to-Debt compare to SAFX and VGAS?
Azure Power Global's Cash-to-Debt of 0.06 can be compared against companies in the Utilities - Independent Power Producers industry. The industry median Cash-to-Debt is 0.22. Azure Power Global's value of 0.06 is 72.7% below this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cash-to-Debt for an Utilities - Independent Power Producers company?
The median Cash-to-Debt among Utilities - Independent Power Producers companies is 0.22, based on 452 companies in the industry. Companies in the top quartile (top 25%) have a Cash-to-Debt significantly above this median, while those in the bottom quartile fall well below. However, Cash-to-Debt should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Azure Power Global's current Cash-to-Debt of 0.06 is 72.7% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cash-to-Debt mean?
A high Cash-to-Debt can signal that a stock is expensive relative to its fundamentals. For the Utilities - Independent Power Producers industry, the median Cash-to-Debt is 0.22 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Azure Power Global's current Cash-to-Debt is 0.06. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Azure Power Global stock overvalued right now?
Azure Power Global (AZREF) has a current Cash-to-Debt of 0.06. The current Cash-to-Debt is 0.06 and 72.7% below the Utilities - Independent Power Producers industry median of 0.22. Azure Power Global's overall GF Score™ is 12/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cash-to-Debt calculated?
Cash-to-Debt is calculated from a company's financial statements. For Azure Power Global (AZREF), the current Cash-to-Debt is 0.06 as of Mar. 2024. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Azure Power Global Ltd is a utility-scale renewable energy project developer and operator. It is engaged in the development, construction, ownership, operation, maintenance, and management of renewable energy assets based on long-term contracts (Power Purchase Agreements or PPA) with Indian Government energy distribution companies, as well as other Indian non-governmental energy distribution companies and commercial customers.
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