Zhejiang Renzhi Co (SZSE:002629) Cash-to-Debt : 18.35 (As of Mar. 2024)

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What is Zhejiang Renzhi Co 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. Zhejiang Renzhi Co's cash to debt ratio for the quarter that ended in Mar. 2024 was 18.35.

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, Zhejiang Renzhi Co could pay off its debt using the cash in hand for the quarter that ended in Mar. 2024.

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

SZSE:002629' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.11 Med: 2.13 Max: No Debt
Current: 18.35

During the past 13 years, Zhejiang Renzhi Co's highest Cash to Debt Ratio was No Debt. The lowest was 0.11. And the median was 2.13.

SZSE:002629's Cash-to-Debt is ranked better than
79.2% of 1019 companies
in the Oil & Gas industry
Industry Median: 0.5 vs SZSE:002629: 18.35

Zhejiang Renzhi Co Cash-to-Debt Historical Data

The historical data trend for Zhejiang Renzhi Co'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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Zhejiang Renzhi Co Cash-to-Debt Chart

Zhejiang Renzhi Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Cash-to-Debt

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1.84

1.38

2.25

8.82

9.97

Zhejiang Renzhi Co Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Cash-to-Debt	Get a 7-Day Free Trial															6.48	9.51	7.05	9.97	18.35

Competitive Comparison of Zhejiang Renzhi Co's Cash-to-Debt

For the Oil & Gas Equipment & Services subindustry, Zhejiang Renzhi Co'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.

Zhejiang Renzhi Co's Cash-to-Debt Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Zhejiang Renzhi Co's Cash-to-Debt distribution charts can be found below:

* The bar in red indicates where Zhejiang Renzhi Co's Cash-to-Debt falls into.

Zhejiang Renzhi Co 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.

Zhejiang Renzhi Co'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)
	=	35.711	/	(3.152	+	0.429)
	=	9.97

Zhejiang Renzhi Co'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)
	=	32.108	/	(1.665	+	0.085)
	=	18.35

Zhejiang Renzhi Co (SZSE:002629) 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.

Zhejiang Renzhi Co Cash-to-Debt Related Terms

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

Zhejiang Renzhi Co (SZSE:002629) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Zhejiang Renzhi Co Ltd (SZSE:002629) » Definitions » Cash-to-Debt

Comparable Companies

Traded in Other Exchanges

N/A

Address

2180 Binhai 6th Road, Room 108, Building 1, Wenzhou Economic and Technological Development Zone, Wenzhou, CHN, 200135

Website

http://www.chinarenzhi.com

Zhejiang Renzhi Co Ltd is engaged in the oil service industry which include providing professional services like oil and gas drilling engineering field, oilfield special equipment inspection and maintenance technology.

Executives

Tian Lin	Securities Affairs Representative
Wang Hao	Directors, executives
Xiong Hai He	Supervisors
Zhang Jun	Directors, executives
Feng Pin	Directors, executives
Wang Jian Jun	Director
Yang Liao	Directors, executives
Li Yuan En	Directors, executives
Liu Hui Qin	Supervisors
Ceng Chang Hua	Supervisors

Zhejiang Renzhi Co (SZSE:002629) Headlines

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