Ignyte Acquisition (Ignyte Acquisition) Cash-to-Debt : 0.15 (As of Jun. 2022)

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What is Ignyte 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. Ignyte Acquisition's cash to debt ratio for the quarter that ended in Jun. 2022 was 0.15.

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, Ignyte Acquisition couldn't pay off its debt using the cash in hand for the quarter that ended in Jun. 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 Ignyte Acquisition's Cash-to-Debt or its related term are showing as below:

IGNY's Cash-to-Debt is not ranked ^*
in the Diversified Financial Services industry.
Industry Median: 4.95
* Ranked among companies with meaningful Cash-to-Debt only.

Ignyte Acquisition Cash-to-Debt Historical Data

The historical data trend for Ignyte 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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Ignyte Acquisition Cash-to-Debt Chart

Ignyte Acquisition Annual Data

Trend

Dec20

Dec21

Cash-to-Debt

0.31

No Debt

Ignyte Acquisition Quarterly Data
	Nov20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22
Cash-to-Debt	Get a 7-Day Free Trial			No Debt	No Debt	No Debt	2.58	0.15

Competitive Comparison of Ignyte Acquisition's Cash-to-Debt

For the Shell Companies subindustry, Ignyte 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.

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

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

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

Ignyte 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.

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

Ignyte Acquisition had no debt ⁽¹⁾.

Ignyte Acquisition's Cash to Debt Ratio for the quarter that ended in Jun. 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)
	=	0.045	/	(0.298	+	0)
	=	0.15

Ignyte Acquisition (NAS:IGNY) 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.

Ignyte Acquisition Cash-to-Debt Related Terms

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Ignyte Acquisition (Ignyte Acquisition) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Diversified Financial Services » Ignyte Acquisition Corp (NAS:IGNY) » Definitions » Cash-to-Debt

Comparable Companies

Traded in Other Exchanges

N/A

Address

640 5th Avenue, 4th Floor, New York, NY, USA, 10019

Website

https://ignytespac.com

Ignyte Acquisition Corp is a blank check company.

Executives

Richard J Rosenstock	director	C/O GAINES BERLAND INC, 1055 STEWART AVENUE, BETHPAGE NY 11714
Cheryl Cohen	director	C/O MEDIVATION, INC., 201 SPEAR ST., 3RD FLOOR, SAN FRANCISCO CA 94105
Charles Wilson	director	C/O UNUM THERAPEUTICS, 200 CAMBRIDGEPARK DR., STE. 3100, CAMBRIDGE MA 02140
Ignyte Sponsor Llc	10 percent owner	640 5TH AVENUE, 4TH FLOOR, NEW YORK NY 10019
David I. Rosenberg	director, 10 percent owner, officer: Co-Chief Executive Officer	C/O IGNYTE ACQUISITION CORP., 640 5TH AVENUE, 4TH FLOOR, NEW YORK NY 10019
John Andrew Boockvar	director	C/O IGNYTE ACQUISITION CORP., 640 5TH AVENUE, 4TH FLOOR, NEW YORK NY 10019
David J. Strupp	director, 10 percent owner, officer: Co-Chief Executive Officer	107 DUNNING ROAD, NEW CANAAN CT 06840
Steven Neil Kaplan	director, officer: Chief Financial Officer	C/O IGNYTE ACQUISITION CORP., 640 5TH AVENUE, 4TH FLOOR, NEW YORK NY 10019
Deerfield Management Company, L.p. (series C)	10 percent owner, other: Possible Member of 10% Group	345 PARK AVENUE SOUTH, 12TH FLOOR, NEW YORK NY 10010
Deerfield Mgmt L.p.	10 percent owner, other: Possible Member of 10% Group	780 THIRD AVENUE, 37TH FLOOR, NEW YORK NY 10017
Deerfield Partners, L.p.	10 percent owner, other: Possible Member of 10% Group	345 PARK AVENUE SOUTH, 12TH FLOOR, NEW YORK NY 10010
James E Flynn	10 percent owner, other: Possible Member of 10% Group	780 THIRD AVENUE, 37TH FLOOR, NEW YORK NY 10017