Commerce Split (TSX:YCM) Financial Strength : 6 (As of May. 2024)

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What is Commerce Split Financial Strength?

Commerce Split has the Financial Strength Rank of 6.

GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is rated on a scale of 1 to 10 and is based on these factors:

1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
2. Debt to revenue ratio. The lower, the better.
3. Altman Z-Score.
4. Other debt related ratios.

A higher score indicates a stronger financial position, with companies rated 7 or above considered financially stable and unlikely to face distress. Conversely, a score of 3 or below suggests potential financial difficulties, indicating a higher risk of distress.

GuruFocus does not calculate Commerce Split's interest coverage with the available data. Commerce Split's debt to revenue ratio for the quarter that ended in May. 2024 was 0.00. Altman Z-Score does not apply to banks and insurance companies.

Commerce Split Financial Strength Calculation

GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:

Commerce Split's Interest Expense for the months ended in May. 2024 was C$0.00 Mil. Its Operating Income for the months ended in May. 2024 was C$0.00 Mil. And its Long-Term Debt & Capital Lease Obligation for the quarter that ended in May. 2024 was C$0.00 Mil.

Commerce Split's Interest Coverage for the quarter that ended in May. 2024 is

Commerce Split had no long-term debt ⁽¹⁾.

The higher the ratio, the stronger the company's financial strength is.

Good Sign:

Commerce Split Corp has no debt.

2. Debt to revenue ratio. The lower, the better.

Commerce Split's Debt to Revenue Ratio for the quarter that ended in May. 2024 is

Debt to Revenue Ratio	=	Total Debt (Q: May. 2024 )			/	Revenue
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	Revenue
	=	(0	+	0)	/	3.474
	=	0.00

3. Altman Z-Score.

Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.

The zones of discrimination were as such:

When Z-Score is less than 1.81, it is in Distress Zones.
When Z-Score is greater than 2.99, it is in Safe Zones.
When Z-Score is between 1.81 and 2.99, it is in Grey Zones.

Altman Z-Score does not apply to banks and insurance companies.

* 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.

Commerce Split (TSX:YCM) Financial Strength Explanation

The rank is rated on a scale of 1 to 10. A higher score indicates a stronger financial position, with companies rated 7 or above considered financially stable and unlikely to face distress. Conversely, a score of 3 or below suggests potential financial difficulties, indicating a higher risk of distress.

Commerce Split has the Financial Strength Rank of 6.

Commerce Split Financial Strength Related Terms

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Commerce Split Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Commerce Split Corp (TSX:YCM) » Definitions » Financial Strength

Comparable Companies

Traded in Other Exchanges

YCM.PR.B.PFD:Canada YCM.PR.A.PFD:Canada

Address

200 Front Street West, Suite 2510, Royal Trust Tower, Toronto, ON, CAN, M5V 3K2

Website

https://www.quadravest.com

Commerce Split Corp is a mutual fund company. It invests in common shares of the Canadian Imperial Bank of Commerce. The corporation offers three types of shares, a Capital share, a Class I Preferred, and a Class II Preferred.