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Hitek Global (Hitek Global) LT-Debt-to-Total-Asset : 0.06 (As of Dec. 2023)


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What is Hitek Global 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. Hitek Global's long-term debt to total assests ratio for the quarter that ended in Dec. 2023 was 0.06.

Hitek Global's long-term debt to total assets ratio declined from Dec. 2022 (0.10) to Dec. 2023 (0.06). It may suggest that Hitek Global is progressively becoming less dependent on debt to grow their business.

Hitek Global LT-Debt-to-Total-Asset Historical Data

The historical data trend for Hitek Global'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.

* Premium members only.

Hitek Global LT-Debt-to-Total-Asset Chart

Hitek Global Annual Data
Trend Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
LT-Debt-to-Total-Asset
Get a 7-Day Free Trial - - - 0.10 0.06

Hitek Global Semi-Annual Data
Dec17 Jun18 Dec18 Jun19 Dec19 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23
LT-Debt-to-Total-Asset Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only - 0.11 0.10 - 0.06

Hitek Global LT-Debt-to-Total-Asset Calculation

Hitek Global'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 )
=2.114/35.428
=0.06

Hitek Global'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 )
=2.114/35.428
=0.06

* 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.

Hitek Global  (NAS:HKIT) 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.

Hitek Global LT-Debt-to-Total-Asset Related Terms

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Hitek Global (Hitek Global) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Technology » Software » Hitek Global Inc (NAS:HKIT) » Definitions » LT-Debt-to-Total-Asset
Comparable Companies
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Traded in Other Exchanges
4JX:Germany
Address
No. 30 Guanri Road, Siming District, Unit 304, Fujian Province, Phase II, Software Park, Xiamen, CHN
Website
http://www.xmhitek.com
Hitek Global Inc is a provider of information technology consulting and solutions services. The company has two lines of businesses such as services to small and medium businesses, which consist of Anti-Counterfeiting Tax Control System tax devices, including Golden Tax Disk and printers, ACTCS services, and IT services; and services to large businesses, which include hardware sales and software sales. It generates revenues from hardware sales, software sales, IT services, and tax devices and services.