Canoe EITome Fund (TSX:EIT.UN) Cash-to-Debt : 0.15 (As of Dec. 2023)

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What is Canoe EITome Fund 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. Canoe EITome Fund's cash to debt ratio for the quarter that ended in Dec. 2023 was 0.15.

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, Canoe EITome Fund 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 Canoe EITome Fund's Cash-to-Debt or its related term are showing as below:

TSX:EIT.UN' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.1 Med: 0.93 Max: 3.63
Current: 0.15

During the past 13 years, Canoe EITome Fund's highest Cash to Debt Ratio was 3.63. The lowest was 0.10. And the median was 0.93.

TSX:EIT.UN's Cash-to-Debt is ranked worse than
80.2% of 1475 companies
in the Asset Management industry
Industry Median: 5.5 vs TSX:EIT.UN: 0.15

Canoe EITome Fund Cash-to-Debt Historical Data

The historical data trend for Canoe EITome Fund'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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Canoe EITome Fund Cash-to-Debt Chart

Canoe EITome Fund Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Cash-to-Debt

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1.78

0.47

1.59

1.00

0.15

Canoe EITome Fund Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Cash-to-Debt	Get a 7-Day Free Trial															1.59	1.28	1.00	2.21	0.15

Competitive Comparison of Canoe EITome Fund's Cash-to-Debt

For the Asset Management subindustry, Canoe EITome Fund'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.

Canoe EITome Fund's Cash-to-Debt Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Canoe EITome Fund's Cash-to-Debt distribution charts can be found below:

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

Canoe EITome Fund Cash-to-Debt Calculation

This is the ratio of a company's Balance Sheet Cash And Cash Equivalents 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.

Canoe EITome Fund's Cash to Debt Ratio for the fiscal year that ended in Dec. 2023 is calculated as:

Cash to Debt Ratio	=	Balance Sheet Cash And Cash Equivalents	/	Total Debt
	=	Balance Sheet Cash And Cash Equivalents	/	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)
	=	14.773	/	(0	+	95.989)
	=	0.15

Canoe EITome Fund's Cash to Debt Ratio for the quarter that ended in Dec. 2023 is calculated as:

Cash to Debt Ratio	=	Balance Sheet Cash And Cash Equivalents	/	Total Debt
	=	Balance Sheet Cash And Cash Equivalents	/	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)
	=	14.773	/	(0	+	95.989)
	=	0.15

Canoe EITome Fund (TSX:EIT.UN) 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.

Canoe EITome Fund Cash-to-Debt Related Terms

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

Canoe EITome Fund (TSX:EIT.UN) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Canoe EIT Income Fund (TSX:EIT.UN) » Definitions » Cash-to-Debt

Comparable Companies

Traded in Other Exchanges

ENDTF:USA EIT.PR.B.PFD:Canada EIT.PR.A.PFD:Canada

Address

421 - 7th Avenue SW, Suite 2750, Calgary, AB, CAN, T2P 4K9

Website

https://www.canoefinancial.com

Canoe EIT Income Fund is a Canadian closed-end investment trust. The investment objective of the Fund is to maximize monthly distributions relative to risk and maximize net asset value while maintaining and expanding a diversified portfolio. The company invests in various sectors, of which Financials, Energy, Healthcare, etc.

Canoe EITome Fund (TSX:EIT.UN) Headlines

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