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Northcoders GroupLSE:CODE 38 Cash-to-Debt is 1.35 as of Dec. 2025, which is 3% below its 10-year median of 1.39. GuruFocus rates LSE:CODE with a GF Score™ of 38/100 and a GF Value™ of £0.95 (Possible Value Trap). The stock has 7 warning signs investors should review. Among 263 Education companies, Northcoders Group ranks better than 51.71% on this metric.
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. Northcoders Group's cash to debt ratio for the quarter that ended in Dec. 2025 was 1.35.
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, Northcoders Groupcould pay off its debt using the cash in hand for the quarter that ended in Dec. 2025.
The historical rank and industry rank for Northcoders Group's Cash-to-Debt or its related term are showing as below:
LSE:CODE'
s Cash-to-Debt Range Over the Past 10 Years
Min: 0.33 Med: 1.39 Max: 2.26
Current: 1.35
During the past 6 years, Northcoders Group's highest Cash to Debt Ratio was 2.26. The lowest was 0.33. And the median was 1.39.
LSE:CODE's Cash-to-Debt is ranked better than 51.71% of 263
companies
in the Education industry
Industry Median: 1.23
vs LSE:CODE: 1.35
Northcoders Group (LSE:CODE) 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.
Northcoders Group Cash-to-Debt Related Terms
Northcoders Group Cash-to-Debt Historical Data
* Premium members only.
The historical data trend for Northcoders Group'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.
LSE:CODE vs EDU, TAL, LAUR: Cash-to-Debt Comparison
For the Education & Training Services subindustry, Northcoders Group'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.
Northcoders Group Cash-to-Debt vs Education Industry
For the Education industry and Consumer Defensive sector, Northcoders Group's Cash-to-Debt distribution charts can be found below:
* The bar in red indicates where Northcoders Group'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.
Northcoders Group (LSE:CODE) has a Cash-to-Debt of 1.35 as of Dec. 2025. This is near median its historical median of 1.39. Over the past decade, Northcoders Group's Cash-to-Debt has ranged from 0.33 to 2.26. According to the industry distribution chart, Northcoders Group ranks #127 out of 263 companies in the Education industry, placing it in the top 48.3%.
Is Northcoders Group's Cash-to-Debt too high?
Northcoders Group's current Cash-to-Debt of 1.35 is near median its 10-year median of 1.39. Over the past 10 years, this metric has ranged from a low of 0.33 to a high of 2.26. The Education industry median Cash-to-Debt is 1.23. Northcoders Group's value of 1.35 is 9.8% above this industry median. Based on the distribution chart, Northcoders Group ranks #127 out of 263 companies in the Education industry, which is above the industry midpoint. Overall, Northcoders Group has a GF Score™ of 38/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Northcoders Group's Cash-to-Debt compare to EDU and TAL?
According to the Education industry distribution chart, Northcoders Group ranks #127 out of 263 companies for Cash-to-Debt. This puts Northcoders Group in the upper half of its industry. The industry median Cash-to-Debt is 1.23. Northcoders Group's value of 1.35 is 9.8% above this benchmark. Historically, Northcoders Group's own Cash-to-Debt has ranged from 0.33 to 2.26 over the past decade. While the company's 10-year median is 1.39 vs. the industry median of 1.23, Northcoders Group has consistently been above the industry average. 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 Education company?
The median Cash-to-Debt among Education companies is 1.23, based on 263 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. Northcoders Group's current Cash-to-Debt of 1.35 is 9.8% above 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 Education industry, the median Cash-to-Debt is 1.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Northcoders Group's current Cash-to-Debt is 1.35, which is near median its own 10-year median of 1.39. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Northcoders Group stock overvalued right now?
Based on GuruFocus' analysis, Northcoders Group (LSE:CODE) is currently considered Possible Value Trap. The stock's GF Value™ is £0.95, compared to a current price of £0.20 — trading 79.5% below its estimated fair value. The current Cash-to-Debt is 1.35, which is near median its 10-year median of 1.39 and 9.8% above the Education industry median of 1.23. Northcoders Group's overall GF Score™ is 38/100 with 7 warning signs to review. 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 Northcoders Group (LSE:CODE), the current Cash-to-Debt is 1.35 as of Dec. 2025. 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.
Is Northcoders Group (LSE:CODE) Overvalued in 2026?
Based on GuruFocus' analysis, Northcoders Group stock appears to be undervalued.
The current stock price of £0.20 is trading 79.5% below its estimated GF Value™ of £0.95.
GuruFocus considers Northcoders Group to be Possible Value Trap.
Key valuation signals for LSE:CODE:
Cash-to-Debt: 1.35 (near median its 10-year median of 1.39)
GF Value™: £0.95 vs. price of £0.20 (79.5% below fair value)
Industry Position: 9.8% above the Education median (#127 of 263)
No single metric tells the full story. See the LSE:CODE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Northcoders Group PLC is an independent provider of training programs for software coding. It offers a range of training and software development solutions to individual and corporate customers. Its offering includes bootcamp training courses, government-funded apprenticeships, bespoke training courses, and software development solutions.
38GF Score
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