Medinet Co (TSE:2370) Cash-to-Debt : No Debt ⁽¹⁾ (As of Mar. 2024)

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What is Medinet 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. Medinet Co's cash to debt ratio for the quarter that ended in Mar. 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, Medinet Co could pay off its debt using the cash in hand for the quarter that ended in Mar. 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 Medinet Co's Cash-to-Debt or its related term are showing as below:

TSE:2370' s Cash-to-Debt Range Over the Past 10 Years
Min: 2.97 Med: 1476.1 Max: No Debt
Current: 2124.53

During the past 13 years, Medinet Co's highest Cash to Debt Ratio was No Debt. The lowest was 2.97. And the median was 1476.10.

TSE:2370's Cash-to-Debt is ranked better than
87.68% of 1493 companies
in the Biotechnology industry
Industry Median: 6.89 vs TSE:2370: 2124.53

Medinet Co Cash-to-Debt Historical Data

The historical data trend for Medinet 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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Medinet Co Cash-to-Debt Chart

Medinet Co Annual Data

Trend

Sep14

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

Cash-to-Debt

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42.58

221.36

532.60

1,046.55

1,905.65

Medinet 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															No Debt	No Debt	1,905.65	No Debt	No Debt

Competitive Comparison of Medinet Co's Cash-to-Debt

For the Biotechnology subindustry, Medinet 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.

Medinet Co's Cash-to-Debt Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Medinet Co's Cash-to-Debt distribution charts can be found below:

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

Medinet 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.

Medinet Co's Cash to Debt Ratio for the fiscal year that ended in Sep. 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)
	=	4396.333	/	(1.526	+	0.781)
	=	1,905.65

Medinet Co's Cash to Debt Ratio for the quarter that ended in Mar. 2024 is calculated as:

Medinet Co had no debt ⁽¹⁾.

Medinet Co (TSE:2370) 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.

Medinet Co Cash-to-Debt Related Terms

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Medinet Co (TSE:2370) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Medinet Co Ltd (TSE:2370) » Definitions » Cash-to-Debt

Comparable Companies

Traded in Other Exchanges

N/A

Address

2-3-12 Shin-Yokohama, Shin-Yokohama Square Building, 14 Floor, Kohoku-ku, Yokohama, JPN, 222-0033

Website

http://www.medinet-inc.co.jp

Medinet Co Ltd is a Japan-based Contract Development and Manufacturing Organization (CDMO). The company is engaged in the research and development of regenerative medical products, investigational products, and specified cell products. MEDINET is a one-stop regenerative medicine and cell therapy solution provider. It provides value chain solutions including personnel training, facility and equipment design, facility operations and management, preparation of standard operating procedures, logistics network, information system, purchasing and production management, quality management solutions to medical institutions, research institutions, and biopharmaceutical companies.

Medinet Co (TSE:2370) Headlines

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Medinet Co (TSE:2370) Cash-to-Debt : No Debt (1) (As of Mar. 2024)