First Tractor Co Ltd (601038) — Cash Flow-to-Debt Ratio
First Tractor Co Ltd (601038) has a Cash Flow-to-Debt Ratio of -0.01x as of December 2025, meaning its operating cash flow of CN¥-71.98 Million could theoretically repay 0% of its total liabilities (CN¥6.66 Billion) in one year. See First Tractor Co Ltd (601038) financial flexibility to measure the company's free cash flow as a share of total liabilities.
CF-to-Debt Ratio
Operating Cash Flow
Total Liabilities
Data as of
First Tractor Co Ltd Cash Flow-to-Debt Ratio (2004–2025)
Historical debt coverage capacity for First Tractor Co Ltd across 22 annual periods. For the full cash flow conversion analysis, see 601038 operating cash flow.
Annual Cash Flow-to-Debt Ratio for First Tractor Co Ltd (2004–2025)
Year-by-year debt coverage analysis for First Tractor Co Ltd. Check First Tractor Co Ltd earnings quality ratio to evaluate the quality of earnings relative to operating cash generation.
| Year | CF-to-Debt Ratio | Operating CF (CNY) | Total Liabilities | YoY Change |
|---|---|---|---|---|
| 2025 | 0.16x | CN¥1.06 Billion | CN¥6.66 Billion | ▼ -9.9% |
| 2024 | 0.18x | CN¥1.22 Billion | CN¥6.91 Billion | ▲ +9.9% |
| 2023 | 0.16x | CN¥1.06 Billion | CN¥6.60 Billion | ▼ -71.2% |
| 2022 | 0.56x | CN¥3.60 Billion | CN¥6.49 Billion | ▲ +506.1% |
| 2021 | 0.09x | CN¥582.28 Million | CN¥6.36 Billion | ▼ -46.0% |
| 2020 | 0.17x | CN¥1.25 Billion | CN¥7.37 Billion | ▲ +250.8% |
| 2019 | 0.05x | CN¥330.73 Million | CN¥6.85 Billion | ▲ +206.6% |
| 2018 | -0.05x | CN¥-384.40 Million | CN¥8.48 Billion | ▲ +29.4% |
| 2017 | -0.06x | CN¥-556.31 Million | CN¥8.66 Billion | ▼ -123.6% |
| 2016 | 0.27x | CN¥2.09 Billion | CN¥7.71 Billion | ▲ +235.3% |
| 2015 | 0.08x | CN¥637.80 Million | CN¥7.87 Billion | ▲ +661.1% |
| 2014 | 0.01x | CN¥74.87 Million | CN¥7.03 Billion | ▲ +152.0% |
| 2013 | -0.02x | CN¥-131.90 Million | CN¥6.44 Billion | ▼ -121.5% |
| 2012 | 0.10x | CN¥555.13 Million | CN¥5.84 Billion | ▲ +10.5% |
| 2011 | 0.09x | CN¥463.70 Million | CN¥5.39 Billion | ▼ -24.1% |
| 2010 | 0.11x | CN¥543.23 Million | CN¥4.80 Billion | ▼ -0.6% |
| 2009 | 0.11x | CN¥338.32 Million | CN¥2.97 Billion | ▲ +1.1% |
| 2008 | 0.11x | CN¥329.80 Million | CN¥2.93 Billion | ▲ +254.7% |
| 2007 | 0.03x | CN¥86.09 Million | CN¥2.71 Billion | ▼ -66.1% |
| 2006 | 0.09x | CN¥242.18 Million | CN¥2.59 Billion | ▼ -36.9% |
| 2005 | 0.15x | CN¥241.47 Million | CN¥1.63 Billion | ▲ +174.3% |
| 2004 | -0.20x | CN¥-282.12 Million | CN¥1.41 Billion | — |