Loan To Value or LTV is a ratio of a company's debts to its total assets. It differs from <a title="Gearing" href="https://quoteddata.com/glossary/gearing/">gearing</a>, which is a measure of a company's debts to its <a title="Net assets" href="https://quoteddata.com/glossary/net-asset/">net assets</a>.

For example, if my company has assets of £100 and them borrows another £100 it now has total assets of £200.

Its Loan to value ratio is 0.5 or 50% = 100/200.

Its gearing is expressed as 100% = 100/(200-100) though remember this can also be expressed as 200 - see the <a title="Gearing" href="https://quoteddata.com/glossary/gearing/">gearing</a> definition.

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