Comet Industries (TSXV:CMU) Cash-to-Debt

: 165.03 (As of Oct. 2023)

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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. Comet Industries's cash to debt ratio for the quarter that ended in Oct. 2023 was 165.03.

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

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

TSXV:CMU' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.05 Med: 0.22 Max: 165.03
Current: 165.03

During the past 13 years, Comet Industries's highest Cash to Debt Ratio was 165.03. The lowest was 0.05. And the median was 0.22.

TSXV:CMU's Cash-to-Debt is ranked better than
91.8% of 1793 companies
in the Real Estate industry
Industry Median: 0.26 vs TSXV:CMU: 165.03

Comet Industries Cash-to-Debt Historical Data

The historical data trend for Comet 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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Comet Industries Annual Data

Trend

Jan14

Jan15

Jan16

Jan17

Jan18

Jan19

Jan20

Jan21

Jan22

Jan23

Cash-to-Debt

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0.06

0.08

0.40

1.09

1.02

Comet Industries Quarterly Data
	Jan19	Apr19	Jul19	Oct19	Jan20	Apr20	Jul20	Oct20	Jan21	Apr21	Jul21	Oct21	Jan22	Apr22	Jul22	Oct22	Jan23	Apr23	Jul23	Oct23
Cash-to-Debt	Get a 7-Day Free Trial															1.05	1.02	1.66	1.41	165.03

Competitive Comparison

For the Real Estate Services subindustry, Comet 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.

Comet Industries Cash-to-Debt Distribution

For the Real Estate industry and Real Estate sector, Comet Industries's Cash-to-Debt distribution charts can be found below:

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

Comet 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.

Comet Industries'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)
	=	0.731	/	(0.715	+	0)
	=	1.02

Comet Industries's Cash to Debt Ratio for the quarter that ended in Oct. 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)
	=	9.902	/	(0.06	+	0)
	=	165.03

Comet Industries (TSXV:CMU) 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.

Comet Industries Cash-to-Debt Related Terms

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Comet Industries (TSXV:CMU) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » Comet Industries Ltd (TSXV:CMU) » Definitions » Cash-to-Debt

Comparable Companies

Traded in Other Exchanges

N/A

Address

1177 West Hastings Street, Suite 1610, Vancouver, BC, CAN, V6E 2K3

Website

Comet Industries Ltd is an exploration-stage company. Principally, it is engaged in the business of acquiring and holding mineral properties, and holding and managing real properties, in British Columbia. The company owns unimproved land in Kamloops, Terrace, Pender Harbor and a rental property in Vancouver, British Columbia on a freehold basis. Its segment includes Rental, Exploration, and General or administration. The company generates maximum revenue from the Rental segment. It owns an interest in the big onion zone on the iron mask property, which consists of approximately five crown granted mineral claims.