HiTech Group Australia (ASX:HIT) Debt-to-Equity

: 0.26 (As of Dec. 2023)

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HiTech Group Australia's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was A$0.34 Mil. HiTech Group Australia's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was A$1.80 Mil. HiTech Group Australia's Total Stockholders Equity for the quarter that ended in Dec. 2023 was A$8.16 Mil. HiTech Group Australia's debt to equity for the quarter that ended in Dec. 2023 was 0.26.

A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.

The historical rank and industry rank for HiTech Group Australia's Debt-to-Equity or its related term are showing as below:

ASX:HIT' s Debt-to-Equity Range Over the Past 10 Years
Min: 0.02 Med: 0.06 Max: 0.32
Current: 0.26

During the past 13 years, the highest Debt-to-Equity Ratio of HiTech Group Australia was 0.32. The lowest was 0.02. And the median was 0.06.

ASX:HIT's Debt-to-Equity is ranked better than
59.35% of 930 companies
in the Business Services industry
Industry Median: 0.395 vs ASX:HIT: 0.26

HiTech Group Australia Debt-to-Equity Historical Data

The historical data trend for HiTech Group Australia's Debt-to-Equity 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.

* Premium members only.

HiTech Group Australia Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Debt-to-Equity

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0.06

0.04

0.02

0.32

HiTech Group Australia Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Debt-to-Equity	Get a 7-Day Free Trial															0.02	0.02	-	0.32	0.26

Competitive Comparison

For the Staffing & Employment Services subindustry, HiTech Group Australia's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity 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.

HiTech Group Australia Debt-to-Equity Distribution

For the Business Services industry and Industrials sector, HiTech Group Australia's Debt-to-Equity distribution charts can be found below:

* The bar in red indicates where HiTech Group Australia's Debt-to-Equity falls into.

HiTech Group Australia Debt-to-Equity Calculation

Debt to Equity measures the financial leverage a company has.

HiTech Group Australia's Debt to Equity Ratio for the fiscal year that ended in Jun. 2023 is calculated as

Debt to Equity	=	Total Debt			/	Total Stockholders Equity
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	Total Stockholders Equity
	=	(0.281	+	2.143)	/	7.607
	=	0.32

HiTech Group Australia's Debt to Equity Ratio for the quarter that ended in Dec. 2023 is calculated as

Debt to Equity	=	Total Debt			/	Total Stockholders Equity
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	Total Stockholders Equity
	=	(0.339	+	1.804)	/	8.164
	=	0.26

HiTech Group Australia (ASX:HIT) Debt-to-Equity Explanation

In the calculation of Debt to Equity, we use the total of Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation divided by Total Stockholders Equity. In some calculations, Total Liabilities is used to for calculation.

Be Aware

Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.

HiTech Group Australia Debt-to-Equity Related Terms

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HiTech Group Australia (ASX:HIT) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Business Services » HiTech Group Australia Ltd (ASX:HIT) » Definitions » Debt-to-Equity

Comparable Companies

Traded in Other Exchanges

N/A

Address

Gateway Tower, SE3701b, Level 37, 1 Macquarie Place, Sydney, NSW, AUS, 2000

Website

https://www.hitechaust.com

HiTech Group Australia Ltd supplies recruitment services for permanent and contract staff to the information and communication technology sector. Its only operating segment being recruitment. Geographically, it operates only in Australia. It generates revenue from contracting and permanent placement.

HiTech Group Australia (ASX:HIT) Headlines

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