Total debt / EV is a ratio that measures how much debt a company has relative to its total value. It shows how leveraged a company is, or how much of its assets are financed by debt. Debt is the amount of money that a company owes to its lenders or bondholders. Enterprise value is the measure of a company’s total value, including its equity and debt, minus any cash or cash equivalents. The formula for total debt / EV is: Where: - Total debt is the sum of short-term and long-term debt that a company owes to its lenders or bondholders (R0036, short_and_long_term_debt) - Enterprise value is the measure of a company’s total value, including its equity and debt, minus any cash or cash equivalents (R0075, enterprise_value)