Is Jiangsu Broadcasting Cable Information Network (SHSE:600959) A Risky Investment?
Is Jiangsu Broadcasting Cable Information Network (SHSE:600959) A Risky Investment?
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the permanent loss of capital.' So it might be obvious that you need to consider debt, when you think about how risky any given stock is, because too much debt can sink a company. As with many other companies Jiangsu Broadcasting Cable Information Network Corporation Limited (SHSE:600959) makes use of debt. But should shareholders be worried about its use of debt?
大卫·伊本说得好,他说:“波动性不是我们关心的风险。我们关心的是避免资本的永久损失。”因此,很明显,当你考虑任何给定股票的风险时,你需要考虑债务,因为过多的债务会使公司陷入困境。与许多其他公司一样,江苏广播有线信息网络股份有限公司(SHSE:600959)也使用债务。但是,股东是否应该担心其债务的使用?
Why Does Debt Bring Risk?
为什么债务会带来风险?
Debt assists a business until the business has trouble paying it off, either with new capital or with free cash flow. In the worst case scenario, a company can go bankrupt if it cannot pay its creditors. However, a more common (but still painful) scenario is that it has to raise new equity capital at a low price, thus permanently diluting shareholders. Of course, plenty of companies use debt to fund growth, without any negative consequences. The first step when considering a company's debt levels is to consider its cash and debt together.
债务可以帮助企业,直到企业难以偿还债务,无论是新资本还是自由现金流。在最坏的情况下,如果公司无法向债权人付款,它可能会破产。但是,更常见(但仍然令人痛苦)的情况是,它必须以低廉的价格筹集新的股本,从而永久稀释股东。当然,许多公司使用债务为增长提供资金,而不会产生任何负面影响。考虑公司的债务水平的第一步是同时考虑其现金和债务。
View our latest analysis for Jiangsu Broadcasting Cable Information Network
查看我们对江苏广播有线信息网的最新分析
How Much Debt Does Jiangsu Broadcasting Cable Information Network Carry?
江苏广播有线信息网背负了多少债务?
You can click the graphic below for the historical numbers, but it shows that as of June 2023 Jiangsu Broadcasting Cable Information Network had CN¥4.43b of debt, an increase on CN¥3.20b, over one year. But it also has CN¥6.42b in cash to offset that, meaning it has CN¥2.00b net cash.
你可以点击下图查看历史数字,但它显示,截至2023年6月,江苏广播有线信息网在一年内有44.3亿元人民币的债务,比32.0亿元人民币有所增加。但它也有64.2亿元人民币的现金来抵消这一点,这意味着它拥有20亿元人民币的净现金。
![debt-equity-history-analysis](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231019/0-67548e01a71b80084d29cf264dc8b78d-0-00d1af11b0bfe58beb754eef009f94e4.png/big)
How Healthy Is Jiangsu Broadcasting Cable Information Network's Balance Sheet?
江苏广播有线信息网的资产负债表有多健康?
The latest balance sheet data shows that Jiangsu Broadcasting Cable Information Network had liabilities of CN¥14.1b due within a year, and liabilities of CN¥747.7m falling due after that. Offsetting this, it had CN¥6.42b in cash and CN¥1.71b in receivables that were due within 12 months. So it has liabilities totalling CN¥6.75b more than its cash and near-term receivables, combined.
最新的资产负债表数据显示,江苏广播有线信息网的负债为141亿元人民币,之后到期的负债为7.47亿元人民币。与此相抵消的是,它有64.2亿加元的现金和17.1亿元人民币的应收账款将在12个月内到期。因此,它的负债总额比现金和短期应收账款的总和多出67.5亿元人民币。
Jiangsu Broadcasting Cable Information Network has a market capitalization of CN¥15.3b, so it could very likely raise cash to ameliorate its balance sheet, if the need arose. But it's clear that we should definitely closely examine whether it can manage its debt without dilution. Despite its noteworthy liabilities, Jiangsu Broadcasting Cable Information Network boasts net cash, so it's fair to say it does not have a heavy debt load! The balance sheet is clearly the area to focus on when you are analysing debt. But you can't view debt in total isolation; since Jiangsu Broadcasting Cable Information Network will need earnings to service that debt. So when considering debt, it's definitely worth looking at the earnings trend. Click here for an interactive snapshot.
江苏广播有线信息网的市值为153亿元人民币,因此,如果需要,它很可能会筹集资金以改善其资产负债表。但很明显,我们一定要仔细研究它能否在不稀释的情况下管理债务。尽管负债可观,但江苏广播有线信息网拥有净现金,因此可以公平地说,它没有沉重的债务负担!资产负债表显然是分析债务时需要关注的领域。但是你不能完全孤立地看待债务;因为江苏广播有线信息网需要收益来偿还债务。因此,在考虑债务时,绝对值得一看收益趋势。单击此处查看交互式快照。
Over 12 months, Jiangsu Broadcasting Cable Information Network saw its revenue hold pretty steady, and it did not report positive earnings before interest and tax. While that hardly impresses, its not too bad either.
在过去的12个月中,江苏广播有线信息网的收入保持相当稳定,并且没有公布正的利息和税前收益。虽然这几乎没有给人留下深刻的印象,但也不算太糟糕。
So How Risky Is Jiangsu Broadcasting Cable Information Network?
那么江苏广播有线信息网的风险有多大?
Although Jiangsu Broadcasting Cable Information Network had an earnings before interest and tax (EBIT) loss over the last twelve months, it made a statutory profit of CN¥348m. So when you consider it has net cash, along with the statutory profit, the stock probably isn't as risky as it might seem, at least in the short term. With revenue growth uninspiring, we'd really need to see some positive EBIT before mustering much enthusiasm for this business. The balance sheet is clearly the area to focus on when you are analysing debt. But ultimately, every company can contain risks that exist outside of the balance sheet. These risks can be hard to spot. Every company has them, and we've spotted 3 warning signs for Jiangsu Broadcasting Cable Information Network (of which 1 doesn't sit too well with us!) you should know about.
尽管江苏广播有线信息网在过去十二个月中出现了息税前收益(EBIT)亏损,但其法定利润为3.48亿元人民币。因此,当你考虑到它有净现金和法定利润时,该股票的风险可能没有看起来那么大,至少在短期内是如此。由于收入增长平淡无奇,在激发人们对这项业务的热情之前,我们确实需要看到一些正的息税前利润。资产负债表显然是分析债务时需要关注的领域。但归根结底,每家公司都可以控制资产负债表之外存在的风险。这些风险可能很难发现。每家公司都有它们,我们已经发现了江苏广播有线信息网的3个警告标志(其中1个对我们来说不太合适!)你应该知道。
If you're interested in investing in businesses that can grow profits without the burden of debt, then check out this free list of growing businesses that have net cash on the balance sheet.
如果你有兴趣投资能够在没有债务负担的情况下增加利润的企业,请查看这份资产负债表上有净现金的成长型企业的免费清单。
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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。