Akita Drilling (Akita Drilling) LT-Debt-to-Total-Asset : 0.27 (As of Dec. 2023)

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What is Akita Drilling LT-Debt-to-Total-Asset?

LT Debt to Total Assets is a measurement representing the percentage of a corporation's assets that are financed with loans and financial obligations lasting more than one year. The ratio provides a general measure of the financial position of a company, including its ability to meet financial requirements for outstanding loans. It is calculated as a company's Long-Term Debt & Capital Lease Obligationdivide by its Total Assets. Akita Drilling's long-term debt to total assests ratio for the quarter that ended in Dec. 2023 was 0.27.

Akita Drilling's long-term debt to total assets ratio declined from Dec. 2022 (0.35) to Dec. 2023 (0.27). It may suggest that Akita Drilling is progressively becoming less dependent on debt to grow their business.

Akita Drilling LT-Debt-to-Total-Asset Historical Data

The historical data trend for Akita Drilling's LT-Debt-to-Total-Asset 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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Akita Drilling LT-Debt-to-Total-Asset Chart

Akita Drilling Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

LT-Debt-to-Total-Asset

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0.21

0.30

0.35

0.27

Akita Drilling Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
LT-Debt-to-Total-Asset	Get a 7-Day Free Trial															0.35	0.34	0.30	0.28	0.27

Akita Drilling LT-Debt-to-Total-Asset Calculation

Akita Drilling's Long-Term Debt to Total Asset Ratio for the fiscal year that ended in Dec. 2023 is calculated as

LT Debt to Total Assets (A: Dec. 2023 )	=	Long-Term Debt & Capital Lease Obligation (A: Dec. 2023 )	/	Total Assets (A: Dec. 2023 )
	=	52.005	/	196.512
	=	0.26

Akita Drilling's Long-Term Debt to Total Asset Ratio for the quarter that ended in Dec. 2023 is calculated as

LT Debt to Total Assets (Q: Dec. 2023 )	=	Long-Term Debt & Capital Lease Obligation (Q: Dec. 2023 )	/	Total Assets (Q: Dec. 2023 )
	=	52.005	/	196.512
	=	0.26

Akita Drilling (OTCPK:AKTAF) LT-Debt-to-Total-Asset Explanation

LT Debt to Total Asset is a measurement representing the percentage of a corporation's assets that are financed with loans and financial obligations lasting more than one year. The ratio provides a general measure of the financial position of a company, including its ability to meet financial requirements for outstanding loans. A year-over-year decrease in this metric would suggest the company is progressively becoming less dependent on debt to grow their business.

Akita Drilling LT-Debt-to-Total-Asset Related Terms

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Akita Drilling (Akita Drilling) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Akita Drilling Ltd (OTCPK:AKTAF) » Definitions » LT-Debt-to-Total-Asset

Comparable Companies

Traded in Other Exchanges

774:Germany AKT.B:Canada AKT.A:Canada

Address

333-7th Avenue SW, Suite 1000, Calgary, AB, CAN, T2P 2Z1

Website

https://www.akita-drilling.com

Akita Drilling Ltd is a Canadian oil and gas drilling contractor. The company is engaged in providing contract drilling services, primarily to the oil and gas industry, in Canada and the United States. The company owns and operates over 35 drilling rigs. It is also involved in the drilling related to potash mining and the development of storage caverns.