Altex Industries (Altex Industries) Cash-to-Debt : 55.48 (As of Dec. 2023)

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What is Altex Industries 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. Altex Industries's cash to debt ratio for the quarter that ended in Dec. 2023 was 55.48.

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, Altex Industries could pay off its debt using the cash in hand for the quarter that ended in Dec. 2023.

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

ALTX' s Cash-to-Debt Range Over the Past 10 Years
Min: 18.14 Med: No Debt Max: No Debt
Current: 55.48

During the past 13 years, Altex Industries's highest Cash to Debt Ratio was No Debt. The lowest was 18.14. And the median was No Debt.

ALTX's Cash-to-Debt is ranked better than
82.83% of 1025 companies
in the Oil & Gas industry
Industry Median: 0.5 vs ALTX: 55.48

Altex Industries Cash-to-Debt Historical Data

The historical data trend for Altex Industries'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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Altex Industries Cash-to-Debt Chart

Altex Industries Annual Data

Trend

Sep14

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

Cash-to-Debt

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No Debt

18.14

21.44

32.75

47.49

Altex Industries Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Cash-to-Debt	Get a 7-Day Free Trial															35.45	38.81	42.60	47.49	55.48

Competitive Comparison of Altex Industries's Cash-to-Debt

For the Oil & Gas E&P subindustry, Altex Industries'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.

Altex Industries's Cash-to-Debt Distribution in the Oil & Gas Industry

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

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

Altex Industries 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.

Altex Industries'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)
	=	2.232	/	(0.027	+	0.02)
	=	47.49

Altex Industries's Cash to Debt Ratio for the quarter 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)
	=	2.219	/	(0.027	+	0.013)
	=	55.48

Altex Industries (OTCPK:ALTX) 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.

Altex Industries Cash-to-Debt Related Terms

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

Altex Industries (Altex Industries) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Altex Industries Inc (OTCPK:ALTX) » Definitions » Cash-to-Debt

Comparable Companies

Traded in Other Exchanges

N/A

Address

700 Colorado Boulevard, Suite 273, Denver, CO, USA, 80206-4084

Website

https://www.altexinc.com/

Altex Industries Inc is a US-based holding company. Through its wholly-owned subsidiary, it owns interests in productive onshore oil and gas properties, has bought and sold producing oil and gas properties, and has participated in the drilling of exploratory and development wells, and completion of existing wells in Utah and Wyoming. The Company's revenue is from sales of oil and gas production, interest income, and, occasionally, bonus payments for mineral leases.

Executives

Jeffrey S Chernow	director	PO BOX 1057, BRECKENRIDGE CO 80424
Stephen Fante	director	PO BOX 1057, BRECKENRIDGE CO 80424

Altex Industries (Altex Industries) Headlines

From GuruFocus

Altex Industries Stock Is Estimated To Be Significantly Overvalued

By GF Value • 06-17-2021