First Tractor Co Ltd (601038) — Defensive Interval Ratio

Latest as of December 2025: 272 days

First Tractor Co Ltd (601038) has a Defensive Interval Ratio of 272 days as of December 2025. Defensive assets of CN¥4.52 Billion (cash CN¥-, short-term investments CN¥3.89 Billion, receivables CN¥632.88 Million) cover 272 days of daily cash needs of CN¥16.65 Million/day. See First Tractor Co Ltd working capital to net assets to evaluate short-term liquidity relative to the company's equity base.

Defensive Interval Ratio

272 days
Days of operational coverage

Defensive Assets

CN¥4.52 Billion
Cash + ST Investments + Receivables

Daily Cash Need

CN¥16.65 Million
Current Liabilities ÷ 365

Current Liabilities

CN¥6.08 Billion
CNY

First Tractor Co Ltd Defensive Interval Ratio (2004–2025)

This chart shows how First Tractor Co Ltd's Defensive Interval Ratio has evolved across 22 annual periods from 2004 to 2025. As of December 2025, the ratio stands at 272 days, meaning defensive assets of CN¥4.52 Billion can fund 272 days of operations without new revenue. See First Tractor Co Ltd (601038) net asset quality to measure how much of total assets are equity-financed.

Annual Defensive Interval Ratio for First Tractor Co Ltd (2004–2025)

The table below presents the year-by-year Defensive Interval Ratio for First Tractor Co Ltd from 2004 to 2025, covering 22 annual filings. Each row shows defensive assets, daily cash need, the DIR in days, and the change in days compared to the prior year. For live market cap and the full company financial profile, see First Tractor Co Ltd market capitalisation.

Year DIR (days) Defensive Assets (CNY) Daily Cash Need Cash ST Investments Change (days)
2025 272 days CN¥4.52 Billion CN¥16.65 Million/day CN¥- CN¥3.89 Billion ▲ +97 days
2024 175 days CN¥3.11 Billion CN¥17.80 Million/day CN¥- CN¥2.54 Billion ▲ +82 days
2023 93 days CN¥1.54 Billion CN¥16.56 Million/day CN¥- CN¥862.91 Million ▼ -23 days
2022 116 days CN¥1.95 Billion CN¥16.79 Million/day CN¥- CN¥1.25 Billion ▼ -9 days
2021 126 days CN¥2.03 Billion CN¥16.14 Million/day CN¥- CN¥1.40 Billion ▼ -83 days
2020 208 days CN¥3.93 Billion CN¥18.83 Million/day CN¥- CN¥2.87 Billion ▲ +101 days
2019 107 days CN¥1.85 Billion CN¥17.28 Million/day CN¥- CN¥980.39 Million ▲ +6 days
2018 101 days CN¥1.99 Billion CN¥19.68 Million/day CN¥- CN¥897.24 Million ▲ +16 days
2017 85 days CN¥1.81 Billion CN¥21.23 Million/day CN¥- CN¥40.48 Million ▼ -22 days
2016 107 days CN¥1.76 Billion CN¥16.41 Million/day CN¥- CN¥62.66 Million ▲ +28 days
2015 79 days CN¥1.33 Billion CN¥16.79 Million/day CN¥- CN¥414.87 Million ▼ -87 days
2014 166 days CN¥2.40 Billion CN¥14.46 Million/day CN¥- CN¥354.36 Million ▲ +138 days
2013 28 days CN¥359.10 Million CN¥12.70 Million/day CN¥- CN¥359.10 Million ▼ -172 days
2012 201 days CN¥2.77 Billion CN¥13.82 Million/day CN¥- CN¥306.80 Million ▲ +9 days
2011 191 days CN¥2.66 Billion CN¥13.91 Million/day CN¥- CN¥77.40 Million ▼ -17 days
2010 208 days CN¥2.31 Billion CN¥11.13 Million/day CN¥- CN¥251.99 Million ▲ +204 days
2009 4 days CN¥28.94 Million CN¥7.74 Million/day CN¥- CN¥28.94 Million ▼ -212 days
2008 216 days CN¥1.55 Billion CN¥7.16 Million/day CN¥- CN¥4.44 Million ▼ -39 days
2007 255 days CN¥1.65 Billion CN¥6.48 Million/day CN¥- CN¥47.37 Million ▲ +34 days
2006 221 days CN¥1.46 Billion CN¥6.63 Million/day CN¥- CN¥3.49 Million ▼ -8 days
2005 229 days CN¥1.02 Billion CN¥4.45 Million/day CN¥- CN¥3.58 Million ▼ -24 days
2004 253 days CN¥980.25 Million CN¥3.87 Million/day CN¥- CN¥19.66 Million —
DIR = (Cash + Short-term Investments + Net Receivables) / (Daily Cash Expenses)