Canadian Tire (TSX:CTC) LT-Debt-to-Total-Asset : 0.26 (As of Sep. 2024)

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What is Canadian Tire 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. Canadian Tire's long-term debt to total assests ratio for the quarter that ended in Sep. 2024 was 0.26.

Canadian Tire's long-term debt to total assets ratio increased from Sep. 2023 (0.25) to Sep. 2024 (0.26). It may suggest that Canadian Tire is progressively becoming more dependent on debt to grow their business.

Canadian Tire LT-Debt-to-Total-Asset Historical Data

The historical data trend for Canadian Tire'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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Canadian Tire LT-Debt-to-Total-Asset Chart

Canadian Tire Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

LT-Debt-to-Total-Asset

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0.29

0.30

0.25

0.24

0.29

Canadian Tire Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
LT-Debt-to-Total-Asset	Get a 7-Day Free Trial															0.25	0.29	0.28	0.29	0.26

Canadian Tire LT-Debt-to-Total-Asset Calculation

Canadian Tire'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 )
	=	6390	/	21978.3
	=	0.29

Canadian Tire's Long-Term Debt to Total Asset Ratio for the quarter that ended in Sep. 2024 is calculated as

LT Debt to Total Assets (Q: Sep. 2024 )	=	Long-Term Debt & Capital Lease Obligation (Q: Sep. 2024 )	/	Total Assets (Q: Sep. 2024 )
	=	5980.5	/	22811.6
	=	0.26

Canadian Tire (TSX:CTC) 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.

Canadian Tire LT-Debt-to-Total-Asset Related Terms

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Canadian Tire Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Retail - Cyclical » Canadian Tire Corp Ltd (TSX:CTC) » Definitions » LT-Debt-to-Total-Asset

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Traded in Other Exchanges

CDNAF:USA CTC.A:Canada

Address

2180 Yonge Street, P.O. Box 770, Toronto, ON, CAN, M4P 2V8

Website

https://www.corp.canadiantire.ca

Canadian Tire is a leading general merchandise retailer with over 1,400 affiliated stores across Canada. The company operates about 650 stores, with the remaining operated by franchisees or third-party dealers. The retailer boasts a wide array of owned and affiliated banners that include its iconic namesake brand, Mark's, Sport Chek, Sports Experts, PartSource, Party City, and Helly Hansen. Its wide product assortment includes automotive parts, appliances, home improvement items, sporting goods, and apparel. The firm also offers a loyalty program with 11 million members and owns a financial services arm that manages a credit card portfolio for its more than 2 million active users.

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