Toromont Industries (TSX:TIH) LT-Debt-to-Total-Asset : 0.15 (As of Dec. 2023)

View and export this data going back to 1974. Start your Free Trial

What is Toromont Industries 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. Toromont Industries's long-term debt to total assests ratio for the quarter that ended in Dec. 2023 was 0.15.

Toromont Industries's long-term debt to total assets ratio declined from Dec. 2022 (0.16) to Dec. 2023 (0.15). It may suggest that Toromont Industries is progressively becoming less dependent on debt to grow their business.

Toromont Industries LT-Debt-to-Total-Asset Historical Data

The historical data trend for Toromont Industries'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.

Toromont Industries LT-Debt-to-Total-Asset Chart

Toromont Industries Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

LT-Debt-to-Total-Asset

Get a 7-Day Free Trial

0.20

0.18

0.16

0.15

Toromont Industries 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															0.16	0.16	0.16	0.15	0.15

Toromont Industries LT-Debt-to-Total-Asset Calculation

Toromont Industries'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 )
	=	672.862	/	4571.847
	=	0.15

Toromont Industries'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 )
	=	672.862	/	4571.847
	=	0.15

Toromont Industries (TSX:TIH) 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.

Toromont Industries LT-Debt-to-Total-Asset Related Terms

Thank you for viewing the detailed overview of Toromont Industries's LT-Debt-to-Total-Asset provided by GuruFocus.com. Please click on the following links to see related term pages.

Toromont Industries (TSX:TIH) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Distribution » Toromont Industries Ltd (TSX:TIH) » Definitions » LT-Debt-to-Total-Asset

Comparable Companies

Traded in Other Exchanges

TMTNF:USA 14T:Germany

Address

3131 Highway 7 West, P.O. Box 5511, Concord, ON, CAN, L4K 1B7

Website

https://www.toromont.com

Toromont Industries Ltd is a Canadian industrial company. The company operates two business segments: Equipment Group and CIMCO. The larger segment by revenue, Equipment Group includes a Caterpillar dealership and rental operation of construction equipment. CIMCO offers solutions for the design, engineering, fabrication, and installation of industrial and recreational refrigeration systems. The company operates majorly in Canada and derives a smaller portion of sales from the United States of America.

Toromont Industries (TSX:TIH) Headlines

No Headlines