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Race Oncology (Race Oncology) Financial Strength

: 10 (As of Dec. 2023)
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Race Oncology has the Financial Strength Rank of 10. It shows strong financial strength and is unlikely to fall into distressed situations.

Good Sign:

Race Oncology Ltd shows strong financial strength.

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

Race Oncology has no long-term debt (1). As of today, Race Oncology's Altman Z-Score is 0.00.

(1) Note: An indication of "no long-term debt" does not necessarily mean that the company has no long-term debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.


Competitive Comparison

For the Biotechnology subindustry, Race Oncology's Financial Strength, along with its competitors' market caps and Financial Strength data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Race Oncology Financial Strength Distribution

For the Biotechnology industry and Healthcare sector, Race Oncology's Financial Strength distribution charts can be found below:

* The bar in red indicates where Race Oncology's Financial Strength falls into.



Race Oncology 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:

Race Oncology's Interest Expense for the months ended in Dec. 2023 was $0.00 Mil. Its Operating Income for the months ended in Dec. 2023 was $-6.78 Mil. And its Long-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was $0.00 Mil.

Race Oncology's Interest Coverage for the quarter that ended in Dec. 2023 is

Race Oncology had no long-term debt (1).

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

Good Sign:

Race Oncology Ltd has no debt.

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

Race Oncology's Debt to Revenue Ratio for the quarter that ended in Dec. 2023 is

Debt to Revenue Ratio=Total Debt (Q: Dec. 2023 ) / Revenue
=(Short-Term Debt & Capital Lease Obligation + Long-Term Debt & Capital Lease Obligation) / Revenue
=(0 + 0) / 0
=N/A

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.

Race Oncology has a Z-score of 0.00, indicating it is in Distress Zones. This implies bankrupcy possibility in the next two years.

* 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.


Race Oncology  (OTCPK:RAONF) Financial Strength Explanation

The maximum rank is 10. Companies with rank 7 or higher will be unlikely to fall into distressed situations. Companies with rank of 3 or less are likely in financial distress.

Race Oncology has the Financial Strength Rank of 10. It shows strong financial strength and is unlikely to fall into distressed situations.


Race Oncology Financial Strength Related Terms

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Race Oncology (Race Oncology) Business Description

Traded in Other Exchanges
Address
1 Macquarie Place, Level 36, Gateway, Sydney, NSW, AUS, 2000
Race Oncology Ltd is a specialty pharmaceutical company. It is engaged in the development and marketing of pharmaceutical drugs for the treatment of Cancer. Its product includes Bisantrene, a cancer chemotherapy drug. Its operating segments include research into oncology drugs, Zantrene and the manufacturing and distribution of the drug for clinical trials.

Race Oncology (Race Oncology) Headlines