NorAm Drilling AS (OSL:NORAM) Cash-to-Debt : No Debt ⁽¹⁾ (As of Sep. 2024)

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What is NorAm Drilling AS 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. NorAm Drilling AS's cash to debt ratio for the quarter that ended in Sep. 2024 was No Debt ⁽¹⁾.

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, NorAm Drilling AS could pay off its debt using the cash in hand for the quarter that ended in Sep. 2024.

(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 NorAm Drilling AS's Cash-to-Debt or its related term are showing as below:

OSL:NORAM' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.1 Med: No Debt Max: No Debt
Current: No Debt

During the past 5 years, NorAm Drilling AS's highest Cash to Debt Ratio was No Debt. The lowest was 0.10. And the median was No Debt.

OSL:NORAM's Cash-to-Debt is ranked better than
99.8% of 987 companies
in the Oil & Gas industry
Industry Median: 0.52 vs OSL:NORAM: No Debt

NorAm Drilling AS Cash-to-Debt Historical Data

The historical data trend for NorAm Drilling AS'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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NorAm Drilling AS Cash-to-Debt Chart

NorAm Drilling AS Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

Cash-to-Debt

0.10

0.20

0.16

No Debt

NorAm Drilling AS Quarterly Data
	Dec19	Dec20	Jun21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Cash-to-Debt	Get a 7-Day Free Trial										No Debt	No Debt	No Debt	No Debt	No Debt

Competitive Comparison of NorAm Drilling AS's Cash-to-Debt

For the Oil & Gas Equipment & Services subindustry, NorAm Drilling AS'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.

NorAm Drilling AS's Cash-to-Debt Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, NorAm Drilling AS's Cash-to-Debt distribution charts can be found below:

* The bar in red indicates where NorAm Drilling AS's Cash-to-Debt falls into.

NorAm Drilling AS 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.

NorAm Drilling AS's Cash to Debt Ratio for the fiscal year that ended in Dec. 2023 is calculated as:

NorAm Drilling AS had no debt ⁽¹⁾.

NorAm Drilling AS's Cash to Debt Ratio for the quarter that ended in Sep. 2024 is calculated as:

NorAm Drilling AS had no debt ⁽¹⁾.

NorAm Drilling AS (OSL:NORAM) 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.

NorAm Drilling AS Cash-to-Debt Related Terms

Thank you for viewing the detailed overview of NorAm Drilling AS's Cash-to-Debt provided by GuruFocus.com. Please click on the following links to see related term pages.

NorAm Drilling AS Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » NorAm Drilling AS (OSL:NORAM) » Definitions » Cash-to-Debt

Comparable Companies

Traded in Other Exchanges

TM9:Germany

Address

Bryggegata 3, P.O. Box 1327 - Vika, Oslo, NOR, 0112

Website

https://www.noramdrilling.com

NorAm Drilling AS owns and operates a quality rig portfolio of AC driven rigs tailored for the drilling of horizontal wells in the United States land drilling market. NorAm Drilling Company operates all eleven rigs and is financed through a combination of equity investments and intercompany loans, at arm's length terms, from its parent.

NorAm Drilling AS Headlines

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NorAm Drilling AS (OSL:NORAM) Cash-to-Debt : No Debt (1) (As of Sep. 2024)