Nova Eye Medical (ASX:EYE) Debt-to-EBITDA : -0.15 (As of Dec. 2023)

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What is Nova Eye Medical Debt-to-EBITDA?

Debt-to-EBITDA measures a company's ability to pay off its debt.

Nova Eye Medical's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was A$0.66 Mil. Nova Eye Medical's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was A$0.56 Mil. Nova Eye Medical's annualized EBITDA for the quarter that ended in Dec. 2023 was A$-8.38 Mil. Nova Eye Medical's annualized Debt-to-EBITDA for the quarter that ended in Dec. 2023 was -0.14.

A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.

The historical rank and industry rank for Nova Eye Medical's Debt-to-EBITDA or its related term are showing as below:

ASX:EYE' s Debt-to-EBITDA Range Over the Past 10 Years
Min: -5 Med: -0.2 Max: 10.5
Current: -0.15

During the past 13 years, the highest Debt-to-EBITDA Ratio of Nova Eye Medical was 10.50. The lowest was -5.00. And the median was -0.20.

ASX:EYE's Debt-to-EBITDA is ranked worse than
100% of 425 companies
in the Medical Devices & Instruments industry
Industry Median: 1.26 vs ASX:EYE: -0.15

Nova Eye Medical Debt-to-EBITDA Historical Data

The historical data trend for Nova Eye Medical's Debt-to-EBITDA 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.

Nova Eye Medical Debt-to-EBITDA Chart

Nova Eye Medical Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Debt-to-EBITDA

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-4.85

-0.58

-0.99

-0.25

-0.16

Nova Eye Medical 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-EBITDA	Get a 7-Day Free Trial															-0.47	-0.17	-0.15	-0.20	-0.15

Competitive Comparison of Nova Eye Medical's Debt-to-EBITDA

For the Medical Devices subindustry, Nova Eye Medical's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA 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.

Nova Eye Medical's Debt-to-EBITDA Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Nova Eye Medical's Debt-to-EBITDA distribution charts can be found below:

* The bar in red indicates where Nova Eye Medical's Debt-to-EBITDA falls into.

Nova Eye Medical Debt-to-EBITDA Calculation

Debt-to-EBITDA measures a company's ability to pay off its debt.

Nova Eye Medical's Debt-to-EBITDA for the fiscal year that ended in Jun. 2023 is calculated as

Debt-to-EBITDA	=	Total Debt			/	EBITDA
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	EBITDA
	=	(0.639	+	0.892)	/	-9.697
	=	-0.16

Nova Eye Medical's annualized Debt-to-EBITDA for the quarter that ended in Dec. 2023 is calculated as

Debt-to-EBITDA	=	Total Debt			/	EBITDA
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	EBITDA
	=	(0.656	+	0.559)	/	-8.382
	=	-0.14

In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data, the EBITDA data used here is two times the quarterly (Dec. 2023) EBITDA data.

Nova Eye Medical (ASX:EYE) Debt-to-EBITDA Explanation

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

Be Aware

A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.

According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.

Nova Eye Medical Debt-to-EBITDA Related Terms

Thank you for viewing the detailed overview of Nova Eye Medical's Debt-to-EBITDA provided by GuruFocus.com. Please click on the following links to see related term pages.

Nova Eye Medical (ASX:EYE) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Nova Eye Medical Ltd (ASX:EYE) » Definitions » Debt-to-EBITDA

Comparable Companies

Traded in Other Exchanges

N/A

Address

107 Rundle Street, Kent Town, Adelaide, SA, AUS, 5067

Website

https://www.nova-eye.com

Nova Eye Medical Ltd is a medical technology company that develops, manufactures and sells a portfolio of proprietary ophthalmic treatment technologies and devices. Used by eye surgeons globally, these technologies include iTrack minimally invasive glaucoma surgery (MIGS), a consumable surgical device that restores the eye's natural outflow pathway to lower pressure inside the eye and to eliminate patient reliance on anti-glaucoma medications for mild-moderate glaucoma. The company's operating segment include AlphaRET and Glaucoma Surgical Devices, it generates maximum revenue from Glaucoma Surgical Devices. Geographically, it derives a majority of revenue from the United States of America.