Siasun Robot&AutomationLtd (SZSE:300024) Is Carrying A Fair Bit Of Debt
Siasun Robot&AutomationLtd (SZSE:300024) Is Carrying A Fair Bit Of Debt
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.' 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. Importantly, Siasun Robot&Automation Co.,Ltd. (SZSE:300024) does carry debt. But is this debt a concern to shareholders?
大卫·伊本说得很好,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。”当你研究公司的资产负债表的风险时,自然会考虑它的资产负债表,因为企业倒闭时通常会涉及债务。重要的是,新松机器人与自动化有限公司, Ltd.(深交所代码:300024)确实有债务。但是这笔债务是股东关心的问题吗?
When Is Debt A Problem?
债务何时会成为问题?
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. Having said that, the most common situation is where a company manages its debt reasonably well - and to its own advantage. The first step when considering a company's debt levels is to consider its cash and debt together.
债务可以为企业提供帮助,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,如果公司无法偿还债权人,它可能会破产。但是,更常见(但仍然很痛苦)的情况是,它必须以低廉的价格筹集新的股权资本,从而永久稀释股东。话虽如此,最常见的情况是公司合理地很好地管理债务,而且有利于自己的利益。考虑公司债务水平的第一步是将其现金和债务一起考虑。
Check out our latest analysis for Siasun Robot&AutomationLtd
查看我们对新松机器人与自动化有限公司的最新分析
What Is Siasun Robot&AutomationLtd's Debt?
新松机器人与自动化有限公司的债务是什么?
The image below, which you can click on for greater detail, shows that at September 2023 Siasun Robot&AutomationLtd had debt of CN¥2.37b, up from CN¥2.17b in one year. However, because it has a cash reserve of CN¥1.92b, its net debt is less, at about CN¥457.4m.
下图显示截至2023年9月,新松机器人与自动化有限公司的债务为23.7亿元人民币,高于一年的21.7亿元人民币,你可以点击下图了解更多详情。但是,由于其现金储备为19.2亿元人民币,其净负债较少,约为4.574亿元人民币。
![debt-equity-history-analysis](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231211/0-2d19ef0311afa9ea6df4f4010106841b-0-a8ef922fe11c048f2f2b8db2fbfd5591.png/big)
A Look At Siasun Robot&AutomationLtd's Liabilities
看看新松机器人与自动化有限公司的负债
The latest balance sheet data shows that Siasun Robot&AutomationLtd had liabilities of CN¥6.41b due within a year, and liabilities of CN¥1.55b falling due after that. Offsetting this, it had CN¥1.92b in cash and CN¥2.12b in receivables that were due within 12 months. So its liabilities outweigh the sum of its cash and (near-term) receivables by CN¥3.91b.
最新的资产负债表数据显示,Siasun Robot&AutomationLtd在一年内到期的负债为64.1亿元人民币,此后到期的负债为15.5亿元人民币。抵消这一点的是,它有19.2亿元人民币的现金和21.2亿元人民币的应收账款,这些应收账款将在12个月内到期。因此,其负债超过现金和(近期)应收账款总额391亿元人民币。
While this might seem like a lot, it is not so bad since Siasun Robot&AutomationLtd has a market capitalization of CN¥18.1b, and so it could probably strengthen its balance sheet by raising capital if it needed to. However, it is still worthwhile taking a close look at its ability to pay off debt. There's no doubt that we learn most about debt from the balance sheet. But ultimately the future profitability of the business will decide if Siasun Robot&AutomationLtd can strengthen its balance sheet over time. So if you're focused on the future you can check out this free report showing analyst profit forecasts.
尽管这可能看起来很多,但还不错,因为Siasun Robot&AutomationLtd的市值为181亿元人民币,因此,如果需要,它可能会通过筹集资金来加强资产负债表。但是,仍然值得仔细研究其偿还债务的能力。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。但最终,该业务的未来盈利能力将决定Siasun Robot&AutomationLtd能否随着时间的推移加强其资产负债表。因此,如果你专注于未来,你可以查看这份显示分析师利润预测的免费报告。
Over 12 months, Siasun Robot&AutomationLtd reported revenue of CN¥4.2b, which is a gain of 25%, although it did not report any earnings before interest and tax. Shareholders probably have their fingers crossed that it can grow its way to profits.
在过去的12个月中,Siasun Robot&AutomationLtd公布的收入为42亿元人民币,增长25%,尽管该公司没有公布任何利息和税前收益。股东们可能对它能够以增长的方式获利感到不安。
Caveat Emptor
Caveat Emptor
Even though Siasun Robot&AutomationLtd managed to grow its top line quite deftly, the cold hard truth is that it is losing money on the EBIT line. To be specific the EBIT loss came in at CN¥651m. 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. Another cause for caution is that is bled CN¥302m in negative free cash flow over the last twelve months. So to be blunt we think it is risky. The balance sheet is clearly the area to focus on when you are analysing debt. However, not all investment risk resides within the balance sheet - far from it. For example - Siasun Robot&AutomationLtd has 1 warning sign we think you should be aware of.
尽管Siasun Robot&AutomationLtd设法相当巧妙地增长了收入,但冷酷的事实是,它在息税前利润方面正在亏损。具体而言,息税前利润亏损为6.51亿元人民币。考虑到除了上述负债外,我们对公司应该使用如此多的债务没有太大信心。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3.02亿元人民币。因此,坦率地说,我们认为这是有风险的。资产负债表显然是分析债务时需要关注的领域。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,Siasun Robot&AutomationLtd 有 1 个警告标志,我们认为你应该注意。
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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