Here's Why Shenzhen Fastprint Circuit TechLtd (SZSE:002436) Can Afford Some Debt
Here's Why Shenzhen Fastprint Circuit TechLtd (SZSE:002436) Can Afford Some Debt
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of permanent loss is the risk I worry about... and every practical investor I know worries about.' 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. Importantly, Shenzhen Fastprint Circuit Tech Co.,Ltd. (SZSE:002436) does carry debt. But is this debt a concern to shareholders?
霍华德·马克斯说得很好,他说:“我担心的是永久亏损的可能性... 我认识的每位务实投资者都很担心,而不是担心股价的波动。”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。重要的是,深圳市快印电路技术有限公司, Ltd.(深圳证券交易所:002436)确实有债务。但是这笔债务是股东关心的问题吗?
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. Ultimately, if the company can't fulfill its legal obligations to repay debt, shareholders could walk away with nothing. 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. The first thing to do when considering how much debt a business uses is to look at 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。归根结底,如果公司无法履行偿还债务的法律义务,股东可能一无所有地离开。尽管这种情况并不常见,但我们经常会看到负债公司永久稀释股东,因为贷款人强迫他们以不利的价格筹集资金。当然,债务的好处在于它通常代表廉价资本,尤其是当它取代了对一家能够以高回报率进行再投资的公司的摊薄时。在考虑企业使用多少债务时,要做的第一件事是将现金和债务放在一起看。
See our latest analysis for Shenzhen Fastprint Circuit TechLtd
查看我们对深圳快印电路科技有限公司的最新分析
How Much Debt Does Shenzhen Fastprint Circuit TechLtd Carry?
深圳快板电路科技有限公司负有多少债务?
As you can see below, at the end of September 2023, Shenzhen Fastprint Circuit TechLtd had CN¥4.04b of debt, up from CN¥3.09b a year ago. Click the image for more detail. However, it does have CN¥2.49b in cash offsetting this, leading to net debt of about CN¥1.55b.
如下所示,截至2023年9月底,深圳快印电路科技有限公司的债务为404亿元人民币,高于去年同期的30.9亿元人民币。点击图片了解更多详情。但是,它确实有249亿元人民币的现金抵消了这一点,导致净负债约为15.5亿元人民币。
![debt-equity-history-analysis](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231114/0-d7815d410a71a0fa5a66e73cfe3e5b0a-0-5d18be2ff089ea8d9cd391215316baed.png/big)
A Look At Shenzhen Fastprint Circuit TechLtd's Liabilities
看看深圳快板电路科技有限公司的负债
We can see from the most recent balance sheet that Shenzhen Fastprint Circuit TechLtd had liabilities of CN¥3.47b falling due within a year, and liabilities of CN¥3.15b due beyond that. On the other hand, it had cash of CN¥2.49b and CN¥2.37b worth of receivables due within a year. So its liabilities total CN¥1.76b more than the combination of its cash and short-term receivables.
我们可以从最新的资产负债表中看出,深圳快板电路科技有限公司的负债为34.7亿元人民币,此后到期的负债为31.5亿元人民币。另一方面,它在一年内有249亿元人民币的现金和价值23.7亿元人民币的应收账款。因此,其负债总额比其现金和短期应收账款的总和高出17.6亿元人民币。
Since publicly traded Shenzhen Fastprint Circuit TechLtd shares are worth a total of CN¥25.9b, it seems unlikely that this level of liabilities would be a major threat. Having said that, it's clear that we should continue to monitor its balance sheet, lest it change for the worse. There's no doubt that we learn most about debt from the balance sheet. But it is future earnings, more than anything, that will determine Shenzhen Fastprint Circuit TechLtd's ability to maintain a healthy balance sheet going forward. So if you want to see what the professionals think, you might find this free report on analyst profit forecasts to be interesting.
由于上市的深圳快印电路科技有限公司的股票总价值为259亿元人民币,因此这种负债水平似乎不太可能成为重大威胁。话虽如此,很明显,我们应该继续监控其资产负债表,以免情况变得更糟。毫无疑问,我们从资产负债表中学到的关于债务的知识最多。但是,未来的收益,比什么都重要,将决定深圳快印电路科技有限公司未来保持健康资产负债表的能力。因此,如果你想看看专业人士的想法,你可能会发现这份关于分析师利润预测的免费报告很有趣。
Over 12 months, Shenzhen Fastprint Circuit TechLtd made a loss at the EBIT level, and saw its revenue drop to CN¥5.2b, which is a fall of 5.2%. We would much prefer see growth.
在过去的12个月中,深圳快捷电路科技有限公司的息税前利润水平出现亏损,收入下降至52亿元人民币,下降5.2%。我们更希望看到增长。
Caveat Emptor
Caveat Emptor
Importantly, Shenzhen Fastprint Circuit TechLtd had an earnings before interest and tax (EBIT) loss over the last year. Indeed, it lost CN¥35m at the EBIT level. When we look at that and recall the liabilities on its balance sheet, relative to cash, it seems unwise to us for the company to have any debt. So we think its balance sheet is a little strained, though not beyond repair. Another cause for caution is that is bled CN¥1.7b in negative free cash flow over the last twelve months. So in short it's a really risky stock. There's no doubt that we learn most about debt from the balance sheet. However, not all investment risk resides within the balance sheet - far from it. For example Shenzhen Fastprint Circuit TechLtd has 3 warning signs (and 1 which shouldn't be ignored) we think you should know about.
重要的是,深圳快印电路科技有限公司去年出现利息税前收益(EBIT)亏损。事实上,它在息税前利润水平上损失了3500万元人民币。当我们审视这个问题并回顾其资产负债表上相对于现金的负债时,我们认为该公司有任何债务似乎是不明智的。因此,我们认为其资产负债表有些紧张,尽管并非无法修复。另一个值得谨慎的理由是,在过去的十二个月中,自由现金流为负17亿元人民币。因此,简而言之,这是一只风险很大的股票。毫无疑问,我们从资产负债表中学到的关于债务的知识最多。但是,并非所有的投资风险都存在于资产负债表中——远非如此。例如,深圳Fastprint Circuit TechLtd有3个警告标志(还有一个不容忽视),我们认为你应该知道。
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.
毕竟,如果你对一家资产负债表坚如磐石的快速成长型公司更感兴趣,那么请立即查看我们的净现金增长股票清单。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
对这篇文章有反馈吗?对内容感到担忧?直接联系我们。 或者,给编辑团队 (at) simplywallst.com 发送电子邮件。
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。