Cleo Diagnostics (ASX:COV) Debt-to-Equity : 0.00 (As of Dec. 2023)

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What is Cleo Diagnostics Debt-to-Equity?

Cleo Diagnostics's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was A$0.00 Mil. Cleo Diagnostics's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was A$0.00 Mil. Cleo Diagnostics's Total Stockholders Equity for the quarter that ended in Dec. 2023 was A$10.54 Mil. Cleo Diagnostics's debt to equity for the quarter that ended in Dec. 2023 was 0.00.

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 Cleo Diagnostics's Debt-to-Equity or its related term are showing as below:

ASX:COV' s Debt-to-Equity Range Over the Past 10 Years
Min: -4.56 Med: -3.13 Max: -1.7
Current: 0.15

During the past 1 years, the highest Debt-to-Equity Ratio of Cleo Diagnostics was -1.70. The lowest was -4.56. And the median was -3.13.

ASX:COV's Debt-to-Equity is ranked better than
59.41% of 707 companies
in the Medical Devices & Instruments industry
Industry Median: 0.21 vs ASX:COV: 0.15

Cleo Diagnostics Debt-to-Equity Historical Data

The historical data trend for Cleo Diagnostics'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.

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Cleo Diagnostics Debt-to-Equity Chart

Cleo Diagnostics Annual Data

Trend

Jun23

Debt-to-Equity

-1.70

Cleo Diagnostics Semi-Annual Data
	Dec22	Jun23	Dec23
Debt-to-Equity	-4.56	-1.70	-

Competitive Comparison of Cleo Diagnostics's Debt-to-Equity

For the Medical Devices subindustry, Cleo Diagnostics'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.

Cleo Diagnostics's Debt-to-Equity Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Cleo Diagnostics's Debt-to-Equity distribution charts can be found below:

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

Cleo Diagnostics Debt-to-Equity Calculation

Debt to Equity measures the financial leverage a company has.

Cleo Diagnostics'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
	=	(1.6	+	0)	/	-0.943
	=	-1.70

Cleo Diagnostics'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	+	0)	/	10.54
	=	0.00

Cleo Diagnostics (ASX:COV) 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.

Cleo Diagnostics Debt-to-Equity Related Terms

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Cleo Diagnostics (ASX:COV) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Cleo Diagnostics Ltd (ASX:COV) » Definitions » Debt-to-Equity

Comparable Companies

Traded in Other Exchanges

N/A

Address

480 Collins Street, Level 2, Melbourne, VIC, AUS, 3000

Website

https://www.cleodx.com

Cleo Diagnostics Ltd is focused on the development of non-invasive blood-based IVD tests to detect the presence, and recurrence, of ovarian cancer. The Company's first product to market is intended to be the Triage Test which has to date produced strong results to accurately differentiate patients with malignant ovarian cancer from those with benign gynaecological conditions. The Company aims to improve the diagnostic process and procedures for detecting ovarian cancer and, in this regard, improve quality-of-life outcomes for patients who have been diagnosed with ovarian cancer.

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