Zhejiang Tongxing Technology Co (SZSE:301252) Debt-to-Equity : 0.05 (As of Mar. 2024)

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What is Zhejiang Tongxing Technology Co Debt-to-Equity?

Zhejiang Tongxing Technology Co's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2024 was ¥64 Mil. Zhejiang Tongxing Technology Co's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2024 was ¥0 Mil. Zhejiang Tongxing Technology Co's Total Stockholders Equity for the quarter that ended in Mar. 2024 was ¥1,190 Mil. Zhejiang Tongxing Technology Co's debt to equity for the quarter that ended in Mar. 2024 was 0.05.

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 Zhejiang Tongxing Technology Co's Debt-to-Equity or its related term are showing as below:

SZSE:301252' s Debt-to-Equity Range Over the Past 10 Years
Min: 0.05 Med: 0.24 Max: 0.5
Current: 0.05

During the past 6 years, the highest Debt-to-Equity Ratio of Zhejiang Tongxing Technology Co was 0.50. The lowest was 0.05. And the median was 0.24.

SZSE:301252's Debt-to-Equity is ranked better than
83.91% of 2623 companies
in the Industrial Products industry
Industry Median: 0.28 vs SZSE:301252: 0.05

Zhejiang Tongxing Technology Co Debt-to-Equity Historical Data

The historical data trend for Zhejiang Tongxing Technology Co'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.

Zhejiang Tongxing Technology Co Debt-to-Equity Chart

Zhejiang Tongxing Technology Co Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Debt-to-Equity

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0.44

0.36

0.29

0.21

0.08

Zhejiang Tongxing Technology Co Quarterly Data
	Dec18	Dec19	Dec20	Mar21	Jun21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Debt-to-Equity	Get a 7-Day Free Trial										0.22	0.11	0.10	0.08	0.05

Competitive Comparison of Zhejiang Tongxing Technology Co's Debt-to-Equity

For the Electrical Equipment & Parts subindustry, Zhejiang Tongxing Technology Co'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.

Zhejiang Tongxing Technology Co's Debt-to-Equity Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, Zhejiang Tongxing Technology Co's Debt-to-Equity distribution charts can be found below:

* The bar in red indicates where Zhejiang Tongxing Technology Co's Debt-to-Equity falls into.

Zhejiang Tongxing Technology Co Debt-to-Equity Calculation

Debt to Equity measures the financial leverage a company has.

Zhejiang Tongxing Technology Co's Debt to Equity Ratio for the fiscal year 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
	=	(87.92	+	0.273)	/	1149.94
	=	0.08

Zhejiang Tongxing Technology Co's Debt to Equity Ratio for the quarter that ended in Mar. 2024 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
	=	(63.66	+	0.273)	/	1189.849
	=	0.05

Zhejiang Tongxing Technology Co (SZSE:301252) 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.

Zhejiang Tongxing Technology Co Debt-to-Equity Related Terms

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Zhejiang Tongxing Technology Co (SZSE:301252) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Zhejiang Tongxing Technology Co Ltd (SZSE:301252) » Definitions » Debt-to-Equity

Traded in Other Exchanges

N/A

Address

No. 889, Xinchang Avenue East Road, Xinchang County, Zhejiang Province, Shaoxing, CHN, 312500

Website

http://www.zjtx.cn

Zhejiang Tongxing Technology Co Ltd is engaged in the Research and development, production and sales of refrigeration equipment-related products. Its products include AUTO AC Copper Tube Assembly, Aluminum Evaporator Top Type, Microchannel Evaporator Coil, heat exchangers for vehicle refrigerators, and Others.

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