Kits Eyecare (TSX:KITS) LT-Debt-to-Total-Asset : 0.13 (As of Dec. 2023)

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What is Kits Eyecare 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. Kits Eyecare's long-term debt to total assests ratio for the quarter that ended in Dec. 2023 was 0.13.

Kits Eyecare's long-term debt to total assets ratio declined from Dec. 2022 (0.17) to Dec. 2023 (0.13). It may suggest that Kits Eyecare is progressively becoming less dependent on debt to grow their business.

Kits Eyecare LT-Debt-to-Total-Asset Historical Data

The historical data trend for Kits Eyecare'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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Kits Eyecare LT-Debt-to-Total-Asset Chart

Kits Eyecare Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

LT-Debt-to-Total-Asset

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0.01

0.02

0.21

0.17

0.13

Kits Eyecare Quarterly Data
	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													0.17	0.16	0.15	0.14	0.13

Kits Eyecare LT-Debt-to-Total-Asset Calculation

Kits Eyecare'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 )
	=	11.671	/	87.641
	=	0.13

Kits Eyecare'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 )
	=	11.671	/	87.641
	=	0.13

Kits Eyecare (TSX:KITS) 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.

Kits Eyecare LT-Debt-to-Total-Asset Related Terms

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Kits Eyecare (TSX:KITS) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Retail - Cyclical » Kits Eyecare Ltd (TSX:KITS) » Definitions » LT-Debt-to-Total-Asset

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Traded in Other Exchanges

KTYCF:USA 0P3:Germany

Address

510 Seymour Street, Suite 1020, Vancouver, BC, CAN, V6B 3J5

Website

https://www.kits.com

Kits Eyecare Ltd is a vertically integrated, digitally native eyecare platform that offers its customers access to a vast selection of the highest quality contact lenses and eyeglasses, including its own exclusive KITS-designed products, and a suite of online vision tools. It operates a network of optical e-commerce websites, including KITS.com, KITS.ca, OptiContacts.com, and ContactsExpress.ca. The company's contact lens partners include Alcon, Bausch & Lomb, CooperVision, and Johnson & Johnson, and its glasses partners include Gucci, Oakley, Prive Revaux, Ray-Ban, and Tom Ford, which enables it to offer its customers first class brands and products in eye care.

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