Neovasc (TSX:NVCN) Cash-to-Debt : 1.98 (As of Dec. 2022)

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What is Neovasc 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. Neovasc's cash to debt ratio for the quarter that ended in Dec. 2022 was 1.98.

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, Neovasc could pay off its debt using the cash in hand for the quarter that ended in Dec. 2022.

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

TSX:NVCN' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.28 Med: 5.52 Max: No Debt
Current: 1.98

During the past 13 years, Neovasc's highest Cash to Debt Ratio was No Debt. The lowest was 0.28. And the median was 5.52.

TSX:NVCN's Cash-to-Debt is not ranked
in the Medical Devices & Instruments industry.
Industry Median: 1.87 vs TSX:NVCN: 1.98

Neovasc Cash-to-Debt Historical Data

The historical data trend for Neovasc'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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Neovasc Cash-to-Debt Chart

Neovasc Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Cash-to-Debt

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0.63

0.34

1.49

5.75

1.98

Neovasc Quarterly Data
	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22
Cash-to-Debt	Get a 7-Day Free Trial															5.75	3.54	3.06	2.46	1.98

Competitive Comparison of Neovasc's Cash-to-Debt

For the Medical Devices subindustry, Neovasc'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.

Neovasc's Cash-to-Debt Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Neovasc's Cash-to-Debt distribution charts can be found below:

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

Neovasc 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.

Neovasc's Cash to Debt Ratio for the fiscal year that ended in Dec. 2022 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)
	=	35.038	/	(0.299	+	17.358)
	=	1.98

Neovasc's Cash to Debt Ratio for the quarter that ended in Dec. 2022 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)
	=	35.038	/	(0.299	+	17.358)
	=	1.98

Neovasc (TSX:NVCN) 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.

Neovasc Cash-to-Debt Related Terms

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Neovasc (TSX:NVCN) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Neovasc Inc (TSX:NVCN) » Definitions » Cash-to-Debt

Comparable Companies

Traded in Other Exchanges

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Address

13562 Maycrest Way, Suite 5138, Richmond, BC, CAN, V6V 2J7

Website

https://www.neovasc.com

Neovasc Inc is a specialty medical device company. It develops, manufactures and markets products for the rapidly growing cardiovascular marketplace. Its products the Neovasc Reducer (Reducer), for the treatment of refractory angina, which is not currently commercially available in the United States and has been commercially available in Europe since 2015, and the Tiara, for the transcatheter treatment of mitral valve disease, which is under clinical investigation in the United States, Canada, Israel and Europe. The company earns revenue from one source, the Reducer.