Tonking New Energy Group Holdings (HKSE:08326) Cash-to-Debt : 0.30 (As of Mar. 2024)

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What is Tonking New Energy Group Holdings 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. Tonking New Energy Group Holdings's cash to debt ratio for the quarter that ended in Mar. 2024 was 0.30.

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, Tonking New Energy Group Holdings couldn'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 Tonking New Energy Group Holdings's Cash-to-Debt or its related term are showing as below:

HKSE:08326' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.28 Med: 0.58 Max: No Debt
Current: 1.08

During the past 12 years, Tonking New Energy Group Holdings's highest Cash to Debt Ratio was No Debt. The lowest was 0.28. And the median was 0.58.

HKSE:08326's Cash-to-Debt is ranked better than
77.6% of 433 companies
in the Utilities - Independent Power Producers industry
Industry Median: 0.24 vs HKSE:08326: 1.08

Tonking New Energy Group Holdings Cash-to-Debt Historical Data

The historical data trend for Tonking New Energy Group Holdings'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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Tonking New Energy Group Holdings Cash-to-Debt Chart

Tonking New Energy Group Holdings Annual Data

Trend

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Cash-to-Debt

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1.15

0.28

0.39

0.56

0.30

Tonking New Energy Group Holdings Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Mar24	Sep24
Cash-to-Debt	Get a 7-Day Free Trial															0.56	N/A	0.32	0.30	1.08

Competitive Comparison of Tonking New Energy Group Holdings's Cash-to-Debt

For the Utilities - Renewable subindustry, Tonking New Energy Group Holdings'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.

Tonking New Energy Group Holdings's Cash-to-Debt Distribution in the Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Tonking New Energy Group Holdings's Cash-to-Debt distribution charts can be found below:

* The bar in red indicates where Tonking New Energy Group Holdings's Cash-to-Debt falls into.

Tonking New Energy Group Holdings 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.

Tonking New Energy Group Holdings's Cash to Debt Ratio for the fiscal year that ended in Mar. 2024 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)
	=	44.318	/	(82.333	+	64.129)
	=	0.30

Tonking New Energy Group Holdings's Cash to Debt Ratio for the quarter that ended in Mar. 2024 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)
	=	44.318	/	(82.333	+	64.129)
	=	0.30

Tonking New Energy Group Holdings (HKSE:08326) 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.

Tonking New Energy Group Holdings Cash-to-Debt Related Terms

Thank you for viewing the detailed overview of Tonking New Energy Group Holdings's Cash-to-Debt provided by GuruFocus.com. Please click on the following links to see related term pages.

Tonking New Energy Group Holdings Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Independent Power Producers » Tonking New Energy Group Holdings Ltd (HKSE:08326) » Definitions » Cash-to-Debt

Traded in Other Exchanges

N/A

Address

67 Mody Road, Room 701, 7th Floor, Peninsula Centre, Tsimshatsui, Kowloon, Hong Kong, HKG

Website

http://www.tonkinggroup.com.hk

Tonking New Energy Group Holdings Ltd is an investment holding company. The Company's principal activity is the renewable energy business in the People's Republic of China. Its operating segments include Sales of the patented photovoltaic tracking mounting bracket systems; Provision of one-stop value-added solutions for photovoltaic power stations and Sales of electricity. The company generates maximum revenue from the Sales of the patented photovoltaic tracking mounting bracket systems segment. The group's business is primarily operated through Hong Kong and China of which China accounts for a larger share of the revenue.

Executives

Wu Jiannong	2201 Interest of corporation controlled by you
Rise Triumph Limited	2101 Beneficial owner
Xu Jun	2101 Beneficial owner
Victory Stand International Limited	2101 Beneficial owner
Wu Kai Char	2201 Interest of corporation controlled by you

Tonking New Energy Group Holdings Headlines

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