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FTAC Parnassus Acquisition (FTAC Parnassus Acquisition) Cash-to-Debt : 0.70 (As of Sep. 2022)


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What is FTAC Parnassus Acquisition 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. FTAC Parnassus Acquisition's cash to debt ratio for the quarter that ended in Sep. 2022 was 0.70.

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, FTAC Parnassus Acquisition couldn't pay off its debt using the cash in hand for the quarter that ended in Sep. 2022.

(1) 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.

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

FTPAW' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.7   Med: No Debt   Max: No Debt
Current: 0.7

During the past 2 years, FTAC Parnassus Acquisition's highest Cash to Debt Ratio was No Debt. The lowest was 0.70. And the median was No Debt.

FTPAW's Cash-to-Debt is not ranked
in the Diversified Financial Services industry.
Industry Median: 4.95 vs FTPAW: 0.70

FTAC Parnassus Acquisition Cash-to-Debt Historical Data

The historical data trend for FTAC Parnassus Acquisition'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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FTAC Parnassus Acquisition Cash-to-Debt Chart

FTAC Parnassus Acquisition Annual Data
Trend Dec20 Dec21
Cash-to-Debt
N/A No Debt

FTAC Parnassus Acquisition Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22
Cash-to-Debt Get a 7-Day Free Trial No Debt No Debt No Debt No Debt 0.70

Competitive Comparison of FTAC Parnassus Acquisition's Cash-to-Debt

For the Shell Companies subindustry, FTAC Parnassus Acquisition'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.

FTAC Parnassus Acquisition's Cash-to-Debt Distribution in the Diversified Financial Services Industry

For the Diversified Financial Services industry and Financial Services sector, FTAC Parnassus Acquisition's Cash-to-Debt distribution charts can be found below:

* The bar in red indicates where FTAC Parnassus Acquisition's Cash-to-Debt falls into.


FTAC Parnassus Acquisition 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.

FTAC Parnassus Acquisition's Cash to Debt Ratio for the fiscal year that ended in Dec. 2021 is calculated as:

FTAC Parnassus Acquisition had no debt (1).

FTAC Parnassus Acquisition's Cash to Debt Ratio for the quarter that ended in Sep. 2022 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)
=0.105 / (0.15 + 0)
=0.70

* 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.

FTAC Parnassus Acquisition  (NAS:FTPAW) 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.

FTAC Parnassus Acquisition Cash-to-Debt Related Terms

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FTAC Parnassus Acquisition (FTAC Parnassus Acquisition) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Financial Services » Diversified Financial Services » FTAC Parnassus Acquisition Corp (NAS:FTPAW) » Definitions » Cash-to-Debt
Comparable Companies
EMLD FTCV CNDA FTVI PICC BACA GTPA DISA FTEV BLEU GSHN PSTH XAMS:EPIC ASZ CCYC CVII KAHC DWAC IPOF PBAJ
Traded in Other Exchanges
N/A
Address
2929 Arch Street, Suite 1703, Philadelphia, PA, USA, 19104
Website
FTAC Parnassus Acquisition Corp is a blank check company. It is formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.