Nova Cannabis (FRA:2LK) LT-Debt-to-Total-Asset : 0.33 (As of Mar. 2024)

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What is Nova Cannabis 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. Nova Cannabis's long-term debt to total assests ratio for the quarter that ended in Mar. 2024 was 0.33.

Nova Cannabis's long-term debt to total assets ratio declined from Mar. 2023 (0.39) to Mar. 2024 (0.33). It may suggest that Nova Cannabis is progressively becoming less dependent on debt to grow their business.

Nova Cannabis LT-Debt-to-Total-Asset Historical Data

The historical data trend for Nova Cannabis'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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Nova Cannabis LT-Debt-to-Total-Asset Chart

Nova Cannabis Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

LT-Debt-to-Total-Asset

0.25

0.56

0.39

0.40

0.35

Nova Cannabis Quarterly Data
	Dec19	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
LT-Debt-to-Total-Asset	Get a 7-Day Free Trial												0.39	0.39	0.36	0.35	0.33

Nova Cannabis LT-Debt-to-Total-Asset Calculation

Nova Cannabis'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 )
	=	29.777	/	85.028
	=	0.35

Nova Cannabis's Long-Term Debt to Total Asset Ratio for the quarter that ended in Mar. 2024 is calculated as

LT Debt to Total Assets (Q: Mar. 2024 )	=	Long-Term Debt & Capital Lease Obligation (Q: Mar. 2024 )	/	Total Assets (Q: Mar. 2024 )
	=	28.018	/	85.175
	=	0.33

Nova Cannabis (FRA:2LK) 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.

Nova Cannabis LT-Debt-to-Total-Asset Related Terms

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Nova Cannabis (FRA:2LK) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Healthcare Providers & Services » Nova Cannabis Inc (FRA:2LK) » Definitions » LT-Debt-to-Total-Asset

Comparable Companies

Traded in Other Exchanges

NVACF:USA NOVC:Canada

Address

101, 17220 Stony Plain Road NW, Edmonton, AB, CAN, T5S 1K6

Website

https://www.novacannabisstore.com

Nova Cannabis Inc is engaged in the operation of retail cannabis stores in Canada. It operates approximately 88 retail cannabis stores in Alberta, 16 in Ontario, and one in Saskatchewan. Some of its brands are Value Buds and Sweet Tree Cannabis Co. The company's products include Dried flowers, Pre-rolls, Candy and Cartridges, among others.

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