Spirit Airlines (LTS:0L8U) Cash-to-Debt : 0.07 (As of Sep. 2024)

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What is Spirit Airlines 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. Spirit Airlines's cash to debt ratio for the quarter that ended in Sep. 2024 was 0.07.

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, Spirit Airlines couldn't pay off its debt using the cash in hand for the quarter that ended in Sep. 2024.

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

LTS:0L8U' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.07 Med: 0.39 Max: 4.06
Current: 0.07

During the past 13 years, Spirit Airlines's highest Cash to Debt Ratio was 4.06. The lowest was 0.07. And the median was 0.39.

LTS:0L8U's Cash-to-Debt is ranked worse than
88.03% of 961 companies
in the Transportation industry
Industry Median: 0.46 vs LTS:0L8U: 0.07

Spirit Airlines Cash-to-Debt Historical Data

The historical data trend for Spirit Airlines'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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Spirit Airlines Cash-to-Debt Chart

Spirit Airlines Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Cash-to-Debt

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0.30

0.39

0.28

0.23

0.14

Spirit Airlines Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Cash-to-Debt	Get a 7-Day Free Trial															0.14	0.14	0.12	0.11	0.07

Competitive Comparison of Spirit Airlines's Cash-to-Debt

For the Airlines subindustry, Spirit Airlines'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.

Spirit Airlines's Cash-to-Debt Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, Spirit Airlines's Cash-to-Debt distribution charts can be found below:

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

Spirit Airlines 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.

Spirit Airlines's Cash to Debt Ratio for the fiscal year that ended in Dec. 2023 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)
	=	977.712	/	(576.56	+	6354.092)
	=	0.14

Spirit Airlines's Cash to Debt Ratio for the quarter that ended in Sep. 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)
	=	540.651	/	(1531.626	+	6254.312)
	=	0.07

Spirit Airlines (LTS:0L8U) 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.

Spirit Airlines Cash-to-Debt Related Terms

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Spirit Airlines Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Spirit Airlines Inc (LTS:0L8U) » Definitions » Cash-to-Debt

Comparable Companies

Traded in Other Exchanges

SAVEQ:USA SAVE:Mexico S64:Germany

Address

2800 Executive Way, Miramar, FL, USA, 33025

Website

https://www.spirit.com

Spirit Airlines Inc serves the United States, Latin America, and Caribbean as an airline operator. It primarily offers customers unbundled base fares to strip out any unneeded travel amenities. If needed, a customer can elect for additional options at an extra charge. Flight crews are entirely interchangeable across all aircraft, and maintenance and other support services are simplified due to not having an overly complex fleet. The company has one operating segment, air transportation, owing to its system wide route structure. It may decide to expand its network if a market is underserved or overpriced. The majority of revenue is derived from the United States.

Spirit Airlines Headlines

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