# Net debt

> Net debt is a leverage and coverage metric, calculated as Total debt − Cash. Can be negative.

Source: https://lopifi.com/glossary/net-debt
Part of: Lopifi — US GAAP books on autopilot, checked by a CPA (https://lopifi.com)

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**What is net debt?** Net debt is a leverage and coverage metric, calculated as Total debt − Cash.

## Formula

`Total debt − Cash`

## Note

Can be negative

- **Category:** Leverage & coverage
- **Specified in:** [Metric definitions](https://lopifi.com/md/docs/domain/10-metrics)