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The measure that indicates how efficiently a company converts its cash flow to total debt is the cash flow to total debt ratio. This financial metric specifically analyses the relationship between a company's operating cash flow and its total amount of debt. By examining this ratio, stakeholders can gain insights into the company's ability to meet its debt obligations using the cash it generates from its operations. A higher ratio suggests better efficiency in converting cash flow into a means to service its debts, signaling a healthier financial position and lower risk of financial distress.

While other financial metrics, such as the current ratio or return on investment, provide important insights into liquidity and profitability, they do not directly measure the effectiveness of cash flow in relation to debt. Cash conversion efficiency, on the other hand, focuses on operational efficiency but does not specifically quantify the relationship between cash flow and total debt, which is crucial for understanding a company's leverage and overall risk profile.