Balance sheetRatio

18 Toronto Stock Exchange companies holding more cash than all their debt

18companies

Cash and equivalents exceed every borrowing on the balance sheet, so net debt measured against earnings is negative.

Stocks · Non-US shares · Toronto Stock Exchange (TSX) · Ranked by Net debt to EBITDA in times, most cash on the balance sheet first · Rebuilt 2026-11-07 at 09:25 UTC

How this list is built

Net debt is every borrowing on the newest filed balance sheet less cash and equivalents, over EBITDA from the same year's income statement. The list is ordered by how much of the balance sheet is cash, because a near-zero EBITDA makes the ratio enormous without making the company any richer. The screen: companies listed on Toronto Stock Exchange, graded A or B for the quality of what they report; a median daily traded value of at least 250,000 US dollars over 90 sessions, stated in each listing's own currency, so a company nobody can trade is never on the list; and no positive price to earnings under 1, which no real company earns, and no close sitting the whole of its own 52-week high below that high, which no listing that still trades can do. 237 companies passed tonight. Each market is ranked on its own and never added to another. Figures as recomputed on 2026-11-07.

The list

18 of 18 companies

Owes less than it holds in cash, ranked by Net debt to EBITDA, most cash on the balance sheet first
#	Company	Market	Sector	Net debt to EBITDA, in times	Debt to equity, in ratio	Current ratio, in ratio	Tangible equity ratio, in ratio	Net debt to EBITDA over time	Source
1	TSX:GGDGoGold Resources Inc.	TSX	Basic Materials	-3.6x	0.002	7.63	0.91	Net debt to EBITDA, net debt to ebitda: -6.66 on 2024-09-30 to -3.64 on 2025-09-30, up 45%.	Source n/a
2	TSX:EXEExtendicare Inc.	TSX	Healthcare	-0.04x	0.92	1.37	0.20	Net debt to EBITDA, net debt to ebitda: 4.13 on 2016-12-31 to -0.04 on 2025-12-31, down 101%.	Source n/a
3	TSX:WDOWesdome Gold Mines Ltd.	TSX	Basic Materials	-0.6x	0.004	5.80	0.82	Net debt to EBITDA, net debt to ebitda: -0.75 on 2016-12-31 to -0.58 on 2025-12-31, up 23%.	Source n/a
4	TSX:KITSKits Eyecare Ltd.	TSX	Consumer Cyclical	-1.3x	0.25	1.34	0.30	Net debt to EBITDA, net debt to ebitda: -0.35 on 2023-12-31 to -1.31 on 2025-12-31, down 274%.	Source n/a
5	TSX:CFCanaccord Genuity Group Inc.	TSX	Financial Services	-6.1x	1.05	1.14	-0.04	n/a	Source n/a
6	TSX:DC-ADundee Corporation	TSX	Financial Services	-0.5x	0.003	24.74	0.96	n/a	Source n/a
7	TSX:TIHToromont Industries Ltd.	TSX	Industrials	-0.5x	0.26	2.93	0.56	Net debt to EBITDA, net debt to ebitda: 2.17 on 2017-12-31 to -0.46 on 2025-12-31, down 121%.	Source n/a
8	TSX:KXSKinaxis Inc.	TSX	Technology	-0.8x	0.11	1.97	0.52	Net debt to EBITDA, net debt to ebitda: 1.83 on 2012-12-31 to -0.79 on 2025-12-31, down 143%.	Source n/a
9	TSX:POUParamount Resources Ltd.	TSX	Energy	-0.4x	0.01	3.77	0.76	Net debt to EBITDA, net debt to ebitda: 0.14 on 2022-12-31 to -0.37 on 2025-12-31, down 364%.	Source n/a
10	TSX:DRXADF Group Inc.	TSX	Industrials	-0.5x	0.23	2.21	0.55	Net debt to EBITDA, net debt to ebitda: 3.84 on 2017-01-31 to -0.49 on 2026-01-31, down 113%.	Source n/a
11	TSX:APMAndean Precious Metals Corp.	TSX	Basic Materials	-0.2x	0.17	2.63	0.60	Net debt to EBITDA, net debt to ebitda: -2.84 on 2021-12-31 to -0.20 on 2025-12-31, up 93%.	Source n/a
12	TSX:JAGJaguar Mining Inc.	TSX	Basic Materials	-14.1x	0.03	1.34	0.63	Net debt to EBITDA, net debt to ebitda: -0.04 on 2017-12-31 to -14.13 on 2025-12-31, down 35225%.	Source n/a
13	TSX:MSAMineros S.A.	TSX	Basic Materials	-0.4x	0.06	1.81	0.69	n/a	Source n/a
14	TSX:ATHAthabasca Oil Corporation	TSX	Energy	-0.2x	0.11	1.78	0.69	Net debt to EBITDA, net debt to ebitda: -1.43 on 2023-12-31 to -0.23 on 2025-12-31, up 84%.	Source n/a
15	TSX:HWXHeadwater Exploration Inc.	TSX	Energy	-0.3x	0.02	1.23	0.75	Net debt to EBITDA, net debt to ebitda: -2.57 on 2017-12-31 to -0.27 on 2025-12-31, up 89%.	Source n/a
16	TSX:TSUTrisura Group Ltd.	TSX	Financial Services	-0.7x	0.17	16.58	0.18	n/a	Source n/a
17	TSX:ETEvertz Technologies Limited	TSX	Technology	-0.1x	0.07	1.63	0.44	Net debt to EBITDA, net debt to ebitda: -1.09 on 2018-04-30 to -0.05 on 2026-04-30, up 95%.	Source n/a
18	TSX:PXTParex Resources Inc.	TSX	Energy	-0.1x	0.02	1.11	0.83	Net debt to EBITDA, net debt to ebitda: -0.43 on 2022-12-31 to -0.05 on 2025-12-31, up 88%.	Source n/a

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