Net Debt to Tangible Equity

What is the definition of Gearing % ex Intan.?

Also known as Net Gearing, this is a measure of a company's financial leverage calculated by dividing its net liabilities by stockholders' equity.

The formula is : Net Debt - Cash / (Book Value of Equity - Intangibles)

It uses the book value of equity, not market value as it indicates what proportion of equity and debt the company has been using to finance its assets.


Stockopedia explains Gearing % ex Intan....

The gearing ratio shows how encumbered a company is with debt. A highly-geared company is more vulnerable to a sudden bump in the road, either operationally or due a change in the economy (e.g. a recession or an increase in interest rates).

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