Total debt
The sum of all interest-bearing obligations: loans, bonds and leases.
How to read the number
Debt is not a flaw in itself — cheap debt raises the return on equity. The question is always what will service it.
When the metric lies
Where it is used
The metric is calculated across every security in the catalogue and appears on the instrument card, in the multiples table and in the screener.
Also known as: total debt, gross debt, borrowings