Does Greatoo Intelligent Equipment (SZSE:002031) Have A Healthy Balance Sheet?
Does Greatoo Intelligent Equipment (SZSE:002031) Have A Healthy Balance Sheet?
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously said that 'Volatility is far from synonymous with risk.' It's only natural to consider a company's balance sheet when you examine how risky it is, since debt is often involved when a business collapses. We note that Greatoo Intelligent Equipment Inc. (SZSE:002031) does have debt on its balance sheet. But should shareholders be worried about its use of debt?
一些人说,作为投资者,考虑风险的最佳方式是波动性,而不是债务,但巴菲特曾说过一句名言:波动性远非风险的同义词。当你考察一家公司的风险有多大时,考虑它的资产负债表是很自然的,因为当一家企业倒闭时,债务往往会涉及到它。我们注意到Greatoo智能设备公司。(SZSE:002031)的资产负债表上确实有债务。但股东是否应该担心它的债务使用情况?
What Risk Does Debt Bring?
债务会带来什么风险?
Debt is a tool to help businesses grow, but if a business is incapable of paying off its lenders, then it exists at their mercy. In the worst case scenario, a company can go bankrupt if it cannot pay its creditors. While that is not too common, we often do see indebted companies permanently diluting shareholders because lenders force them to raise capital at a distressed price. Of course, the upside of debt is that it often represents cheap capital, especially when it replaces dilution in a company with the ability to reinvest at high rates of return. When we examine debt levels, we first consider both cash and debt levels, together.
债务是帮助企业发展的一种工具,但如果一家企业无法偿还贷款人的债务,那么它就只能听从贷款人的摆布。在最糟糕的情况下,如果一家公司无法偿还债权人的债务,它可能会破产。尽管这并不常见,但我们确实经常看到负债累累的公司永久性地稀释股东的权益,因为贷款人迫使他们以令人沮丧的价格筹集资金。当然,债务的好处是,它往往代表着廉价资本,特别是当它用能够以高回报率进行再投资的能力取代公司的稀释时。当我们检查债务水平时,我们首先同时考虑现金和债务水平。
See our latest analysis for Greatoo Intelligent Equipment
查看我们对Greatoo智能设备的最新分析
What Is Greatoo Intelligent Equipment's Debt?
Greatoo Intelligence Equipment的债务是什么?
The image below, which you can click on for greater detail, shows that Greatoo Intelligent Equipment had debt of CN¥1.15b at the end of June 2023, a reduction from CN¥1.32b over a year. However, it does have CN¥87.4m in cash offsetting this, leading to net debt of about CN¥1.06b.
下图显示,截至2023年6月底,Greatoo智能设备的债务为11.5亿加元,较一年内的13.2亿加元有所减少。然而,它确实有8740万加元的现金来抵消这一点,导致净债务约为10.6亿加元。
![debt-equity-history-analysis](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231019/0-3b3117976a141cd32aad72381e2edcb7-0-5977ef513e99aeed3ad6e022048e95ed.png/big)
How Strong Is Greatoo Intelligent Equipment's Balance Sheet?
Greatoo智能设备的资产负债表有多强劲?
The latest balance sheet data shows that Greatoo Intelligent Equipment had liabilities of CN¥1.09b due within a year, and liabilities of CN¥501.8m falling due after that. Offsetting this, it had CN¥87.4m in cash and CN¥898.5m in receivables that were due within 12 months. So it has liabilities totalling CN¥602.4m more than its cash and near-term receivables, combined.
最新的资产负债表数据显示,Greatoo智能设备有10.9亿元人民币的负债在一年内到期,5.018亿元的负债在一年内到期。作为抵消,它有8740万加元的现金和8.985亿加元的应收账款在12个月内到期。因此,它的负债总额比现金和近期应收账款加起来还要多6.024亿元。
Since publicly traded Greatoo Intelligent Equipment shares are worth a total of CN¥7.72b, it seems unlikely that this level of liabilities would be a major threat. However, we do think it is worth keeping an eye on its balance sheet strength, as it may change over time. There's no doubt that we learn most about debt from the balance sheet. But it is Greatoo Intelligent Equipment's earnings that will influence how the balance sheet holds up in the future. So if you're keen to discover more about its earnings, it might be worth checking out this graph of its long term earnings trend.
由于上市交易的Greatoo智能设备股票总价值77.2亿元人民币,这种负债水平似乎不太可能构成重大威胁。然而,我们确实认为值得关注其资产负债表的实力,因为它可能会随着时间的推移而变化。毫无疑问,我们从资产负债表中了解到的债务最多。但影响未来资产负债表表现的将是Greatoo Intelligence Equipment的收益。因此,如果你热衷于了解更多关于它的收益,可能值得查看一下它的长期收益趋势图。
In the last year Greatoo Intelligent Equipment had a loss before interest and tax, and actually shrunk its revenue by 45%, to CN¥877m. That makes us nervous, to say the least.
去年,Greatoo智能设备出现息税前亏损,收入缩水45%,至8.77亿元人民币。至少可以说,这让我们感到紧张。
Caveat Emptor
告诫买入者
While Greatoo Intelligent Equipment's falling revenue is about as heartwarming as a wet blanket, arguably its earnings before interest and tax (EBIT) loss is even less appealing. Indeed, it lost CN¥21m at the EBIT level. Considering that alongside the liabilities mentioned above does not give us much confidence that company should be using so much debt. So we think its balance sheet is a little strained, though not beyond repair. However, it doesn't help that it burned through CN¥434m of cash over the last year. So suffice it to say we consider the stock very risky. When analysing debt levels, the balance sheet is the obvious place to start. But ultimately, every company can contain risks that exist outside of the balance sheet. For instance, we've identified 4 warning signs for Greatoo Intelligent Equipment (2 are concerning) you should be aware of.
虽然Greatoo Intelligence Equipment不断下滑的营收令人心碎,但可以说,它的息税前利润(EBIT)亏损就更没有吸引力了。事实上,在息税前利润水平上,它亏损了2100万元人民币。考虑到除了上面提到的债务,我们对公司应该使用如此多的债务没有太大的信心。因此,我们认为它的资产负债表有点紧张,但并不是无法修复。然而,它在过去一年里烧掉了4.34亿元人民币的现金,这也于事无补。因此,可以说,我们认为这只股票风险很大。在分析债务水平时,资产负债表显然是一个起点。但归根结底,每家公司都可能包含存在于资产负债表之外的风险。例如,我们已经确定Greatoo智能设备的4个警告标志(2)你应该知道。
If, after all that, you're more interested in a fast growing company with a rock-solid balance sheet, then check out our list of net cash growth stocks without delay.
如果你对一家增长迅速、资产负债表坚如磐石的公司更感兴趣,那么请立即查看我们的净现金成长型股票清单。
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本文由Simply Wall St.撰写,具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论,我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议,也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意,我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。