Predictmedix AI (XCNQ:PMED) Cash-to-Debt : No Debt ⁽¹⁾ (As of Jul. 2024)

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

XCNQ:PMED' s Cash-to-Debt Range Over the Past 10 Years
Min: 2.08 Med: No Debt Max: No Debt
Current: No Debt

During the past 5 years, Predictmedix AI's highest Cash to Debt Ratio was No Debt. The lowest was 2.08. And the median was No Debt.

XCNQ:PMED's Cash-to-Debt is ranked better than
99.65% of 859 companies
in the Medical Devices & Instruments industry
Industry Median: 1.65 vs XCNQ:PMED: No Debt

Predictmedix AI Cash-to-Debt Historical Data

The historical data trend for Predictmedix AI'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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Predictmedix AI Cash-to-Debt Chart

Predictmedix AI Annual Data

Trend

Jan19

Jan20

Jan21

Jan22

Jan23

Cash-to-Debt

No Debt

99.60

No Debt

2.08

Predictmedix AI Quarterly Data
	Jul19	Oct19	Jan20	Apr20	Jul20	Oct20	Jan21	Apr21	Jul21	Oct21	Jan22	Apr22	Jul22	Oct22	Jan23	Jul23	Oct23	Jul24
Cash-to-Debt	Get a 7-Day Free Trial													No Debt	2.08	N/A	No Debt	No Debt

Competitive Comparison of Predictmedix AI's Cash-to-Debt

For the Medical Devices subindustry, Predictmedix AI'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.

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

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

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

Predictmedix AI 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.

Predictmedix AI's Cash to Debt Ratio for the fiscal year that ended in Jan. 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)
	=	0.079	/	(0.038	+	0)
	=	2.08

Predictmedix AI's Cash to Debt Ratio for the quarter that ended in Jul. 2024 is calculated as:

Predictmedix AI had no debt ⁽¹⁾.

Predictmedix AI (XCNQ:PMED) 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.

Predictmedix AI Cash-to-Debt Related Terms

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Predictmedix AI Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Predictmedix AI Inc (XCNQ:PMED) » Definitions » Cash-to-Debt

Comparable Companies

Traded in Other Exchanges

PMEDF:USA 3QP0:Germany

Address

77 King Street West, Suite 3000, Toronto, ON, CAN, M5K 1G8

Website

https://www.predictmedix.com

Predictmedix AI Inc provides rapid health screening and remote patient care solutions globally. The company's Safe Entry Stations are powered by a proprietary artificial intelligence (AI) that uses multispectral cameras to analyze physiological data patterns and predict a variety of health issues including infectious diseases such as COVID-19, impairment by drugs or alcohol, fatigue or various mental illnesses.

Predictmedix AI Headlines

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Predictmedix AI (XCNQ:PMED) Cash-to-Debt : No Debt (1) (As of Jul. 2024)