Altex Industries (Altex Industries) Debt-to-Equity : 0.04 (As of Dec. 2023)

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What is Altex Industries Debt-to-Equity?

Altex Industries's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was $0.03 Mil. Altex Industries's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was $0.01 Mil. Altex Industries's Total Stockholders Equity for the quarter that ended in Dec. 2023 was $1.12 Mil. Altex Industries's debt to equity for the quarter that ended in Dec. 2023 was 0.04.

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 Altex Industries's Debt-to-Equity or its related term are showing as below:

ALTX' s Debt-to-Equity Range Over the Past 10 Years
Min: 0.04 Med: 0.06 Max: 0.11
Current: 0.04

During the past 13 years, the highest Debt-to-Equity Ratio of Altex Industries was 0.11. The lowest was 0.04. And the median was 0.06.

ALTX's Debt-to-Equity is ranked better than
92.05% of 830 companies
in the Oil & Gas industry
Industry Median: 0.44 vs ALTX: 0.04

Altex Industries Debt-to-Equity Historical Data

The historical data trend for Altex Industries'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.

Altex Industries Debt-to-Equity Chart

Altex Industries Annual Data

Trend

Sep14

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

Debt-to-Equity

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0.11

0.09

0.05

0.04

Altex Industries Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Debt-to-Equity	Get a 7-Day Free Trial															0.05	0.05	0.05	0.04	0.04

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

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

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

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

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

Altex Industries Debt-to-Equity Calculation

Debt to Equity measures the financial leverage a company has.

Altex Industries's Debt to Equity Ratio for the fiscal year that ended in Sep. 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
	=	(0.027	+	0.02)	/	1.132
	=	0.04

Altex Industries'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
	=	(0.027	+	0.013)	/	1.116
	=	0.04

Altex Industries (OTCPK:ALTX) 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.

Altex Industries Debt-to-Equity Related Terms

Thank you for viewing the detailed overview of Altex Industries's Debt-to-Equity 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 » Debt-to-Equity

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