Nova Eye Medical (Nova Eye Medical) Debt-to-Equity : 0.07 (As of Dec. 2023)

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What is Nova Eye Medical Debt-to-Equity?

Nova Eye Medical's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was $0.44 Mil. Nova Eye Medical's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was $0.37 Mil. Nova Eye Medical's Total Stockholders Equity for the quarter that ended in Dec. 2023 was $11.39 Mil. Nova Eye Medical's debt to equity for the quarter that ended in Dec. 2023 was 0.07.

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 Nova Eye Medical's Debt-to-Equity or its related term are showing as below:

ELXMF' s Debt-to-Equity Range Over the Past 10 Years
Min: 0.03 Med: 0.14 Max: 0.28
Current: 0.07

During the past 13 years, the highest Debt-to-Equity Ratio of Nova Eye Medical was 0.28. The lowest was 0.03. And the median was 0.14.

ELXMF's Debt-to-Equity is ranked better than
74.96% of 707 companies
in the Medical Devices & Instruments industry
Industry Median: 0.21 vs ELXMF: 0.07

Nova Eye Medical Debt-to-Equity Historical Data

The historical data trend for Nova Eye Medical'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.

Nova Eye Medical Debt-to-Equity Chart

Nova Eye Medical Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Debt-to-Equity

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0.22

0.03

0.11

0.06

0.07

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-Equity	Get a 7-Day Free Trial															0.06	0.06	0.07	0.07	0.07

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

For the Medical Devices subindustry, Nova Eye Medical'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.

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

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

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

Nova Eye Medical Debt-to-Equity Calculation

Debt to Equity measures the financial leverage a company has.

Nova Eye Medical'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
	=	(0.429	+	0.599)	/	15.564
	=	0.07

Nova Eye Medical'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
	=	(0.439	+	0.374)	/	11.394
	=	0.07

Nova Eye Medical (OTCPK:ELXMF) 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.

Nova Eye Medical Debt-to-Equity Related Terms

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

Nova Eye Medical (Nova Eye Medical) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Nova Eye Medical Ltd (OTCPK:ELXMF) » Definitions » Debt-to-Equity

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Traded in Other Exchanges

EYE:Australia

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.

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