Hangzhou First PV Material Co Ltd (603806) — Cash Flow-to-Debt Ratio

Latest as of September 2025: 0.20x

Hangzhou First PV Material Co Ltd (603806) has a Cash Flow-to-Debt Ratio of 0.20x as of September 2025, meaning its operating cash flow of CN¥921.00 Million could theoretically repay 0% of its total liabilities (CN¥4.60 Billion) in one year. See Hangzhou First PV Material Co Ltd leverage flexibility ratio to measure the company's free cash flow as a share of total liabilities.

CF-to-Debt Ratio

0.20x
Operating CF / Total Liabilities

Operating Cash Flow

CN¥921.00 Million
CNY

Total Liabilities

CN¥4.60 Billion
CNY

Data as of

Sep 2025
Most recent filing

Hangzhou First PV Material Co Ltd Cash Flow-to-Debt Ratio (2009–2024)

Historical debt coverage capacity for Hangzhou First PV Material Co Ltd across 16 annual periods. For the full cash flow conversion analysis, see 603806 cash generation efficiency.

Annual Cash Flow-to-Debt Ratio for Hangzhou First PV Material Co Ltd (2009–2024)

Year-by-year debt coverage analysis for Hangzhou First PV Material Co Ltd. Check Hangzhou First PV Material Co Ltd (603806) cash earnings ratio to evaluate the quality of earnings relative to operating cash generation.

Year CF-to-Debt Ratio Operating CF (CNY) Total Liabilities YoY Change
2024 0.96x CN¥4.39 Billion CN¥4.59 Billion ▲ +34351.6%
2023 0.00x CN¥-16.84 Million CN¥6.04 Billion ▼ -166.2%
2022 0.00x CN¥26.04 Million CN¥6.18 Billion ▲ +104.3%
2021 -0.10x CN¥-147.56 Million CN¥1.50 Billion ▼ -191.0%
2020 0.11x CN¥272.34 Million CN¥2.52 Billion ▼ -55.8%
2019 0.24x CN¥434.94 Million CN¥1.78 Billion ▲ +30.0%
2018 0.19x CN¥169.57 Million CN¥900.19 Million ▼ -47.7%
2017 0.36x CN¥242.96 Million CN¥674.52 Million ▼ -20.0%
2016 0.45x CN¥295.09 Million CN¥655.07 Million ▼ -38.7%
2015 0.73x CN¥415.95 Million CN¥566.45 Million ▲ +236.7%
2014 0.22x CN¥99.87 Million CN¥457.92 Million ▼ -76.1%
2013 0.91x CN¥406.97 Million CN¥446.28 Million ▼ -13.5%
2012 1.05x CN¥317.51 Million CN¥301.15 Million ▼ -25.7%
2011 1.42x CN¥272.91 Million CN¥192.20 Million ▼ -2.8%
2010 1.46x CN¥267.92 Million CN¥183.47 Million ▲ +447.7%
2009 0.27x CN¥42.67 Million CN¥160.02 Million —
Cash Flow-to-Debt Ratio = Operating Cash Flow / Total Liabilities. Higher is better for debt service capacity.