Fortune Minerals (Fortune Minerals) Cash-to-Debt : 0.07 (As of Dec. 2023)

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What is Fortune Minerals 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. Fortune Minerals's cash to debt ratio for the quarter that ended in Dec. 2023 was 0.07.

If Cash to Debt ratio is less than 1, the company cannot pay off its debt using the cash in hand. Here we can see, Fortune Minerals couldn't pay off its debt using the cash in hand for the quarter that ended in Dec. 2023.

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

FTMDF' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.01 Med: 0.13 Max: 1.34
Current: 0.07

During the past 13 years, Fortune Minerals's highest Cash to Debt Ratio was 1.34. The lowest was 0.01. And the median was 0.13.

FTMDF's Cash-to-Debt is ranked worse than
92.18% of 2646 companies
in the Metals & Mining industry
Industry Median: 18.395 vs FTMDF: 0.07

Fortune Minerals Cash-to-Debt Historical Data

The historical data trend for Fortune Minerals'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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Fortune Minerals Cash-to-Debt Chart

Fortune Minerals Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Cash-to-Debt

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0.24

0.10

0.14

0.01

0.07

Fortune Minerals 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															0.01	0.02	0.05	0.01	0.07

Competitive Comparison of Fortune Minerals's Cash-to-Debt

For the Other Industrial Metals & Mining subindustry, Fortune Minerals'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.

Fortune Minerals's Cash-to-Debt Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Fortune Minerals's Cash-to-Debt distribution charts can be found below:

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

Fortune Minerals 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.

Fortune Minerals'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)
	=	0.502	/	(6.953	+	0.126)
	=	0.07

Fortune Minerals'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)
	=	0.502	/	(6.953	+	0.126)
	=	0.07

Fortune Minerals (OTCPK:FTMDF) 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.

Fortune Minerals Cash-to-Debt Related Terms

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Fortune Minerals (Fortune Minerals) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Fortune Minerals Ltd (OTCPK:FTMDF) » Definitions » Cash-to-Debt

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FT:Canada

Address

617 Wellington Street, London, ON, CAN, N6A 3R6

Website

https://www.fortuneminerals.com

Fortune Minerals Ltd is a Canadian mining and mine development company focused on developing the NICO Cobalt-Gold-Bismuth Copper Project in the Northwest Territories. The company plans to build a hydrometallurgical plant in southern Canada to process NICO metal concentrates. It also owns the satellite Sue-Dianne Copper-Silver-Gold Deposit located 25 km north of the NICO Project, which is a potential future source of incremental mill feed to extend the life.