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ADVFN HomeHelpFinancialsDeeper AnalysisFINANCIAL RATIOS - Leverage RatiosDebt-to-Equity Ratio (excl. Intangibles)
FINANCIAL RATIOS - Leverage Ratios
  Debt Ratio
  Debt-to-Equity Ratio
  Debt-to-Equity Ratio (excl. Intangibles)
  Debt-to-Equity Market Value
  Net Gearing
  Net Gearing (excl. Intangibles)
  Gross Gearing (excl. Intangibles)
  Gearing Under 1 Year
  Gearing Under 1 Year (excl. Intangibles)
  Assets/Equity
  Cash/Equity

Debt-to-Equity Ratio (excl. Intangibles)

Debt-to-Equity (excl. Intangibles) ratio, is the Long-term Debt over the Equity after we deduct Intangibles from the latter. Again this ratio looks at the balance the company keeps between debt and equity in its financial structure. Only this time, equity has been decreased by the amount of intangibles, to provide a 'netted' amount of equity capital. Rather than containing much information by itself, this ratio should be compared with the straight Debt-to-Equity one.

The calculation is as follows:

= (creditors long + creditors other + subordinated loans + insurance funds) / (ord cap,reserves + prefs,minorities - intangibles)