Here's Why NeoGenomics (NASDAQ:NEO) Can Afford Some Debt
Here's Why NeoGenomics (NASDAQ:NEO) Can Afford Some 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.' So it seems the smart money knows that debt - which is usually involved in bankruptcies - is a very important factor, when you assess how risky a company is. Importantly, NeoGenomics, Inc. (NASDAQ:NEO) does carry 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,当你评估公司的风险时,看来聪明的货币知道债务(通常涉及破产)是一个非常重要的因素。重要的是,NeoGenomics, Inc.(纳斯达克股票代码:NEO)确实有债务。但是,股东是否应该担心其债务的使用?
When Is Debt A Problem?
债务何时会成为问题?
Generally speaking, debt only becomes a real problem when a company can't easily pay it off, either by raising capital or with its own cash flow. In the worst case scenario, a company can go bankrupt if it cannot pay its creditors. However, a more usual (but still expensive) situation is where a company must dilute shareholders at a cheap share price simply to get debt under control. Of course, plenty of companies use debt to fund growth, without any negative consequences. The first thing to do when considering how much debt a business uses is to look at its cash and debt together.
一般而言,只有当公司无法通过筹集资金或用自己的现金流轻松还清债务时,债务才会成为真正的问题。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(但仍然昂贵)的情况是,公司为了控制债务,必须以低廉的股价稀释股东。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。在考虑企业使用多少债务时,要做的第一件事是同时考虑其现金和债务。
What Is NeoGenomics's Net Debt?
NeoGenomics的净负债是多少?
The chart below, which you can click on for greater detail, shows that NeoGenomics had US$538.2m in debt in December 2023; about the same as the year before. However, it also had US$415.2m in cash, and so its net debt is US$123.0m.
您可以点击下图以获取更多详细信息,该图表显示,新基因组学在2023年12月的债务为5.382亿美元;与前一年大致相同。但是,它也有4.152亿美元的现金,因此其净负债为1.23亿美元。
A Look At NeoGenomics' Liabilities
看看新基因组学的负债
The latest balance sheet data shows that NeoGenomics had liabilities of US$96.3m due within a year, and liabilities of US$643.4m falling due after that. Offsetting this, it had US$415.2m in cash and US$131.3m in receivables that were due within 12 months. So its liabilities total US$193.2m more than the combination of its cash and short-term receivables.
最新的资产负债表数据显示,Neogenomics的负债为9,630万美元,此后到期的负债为6.434亿美元。与此相抵消的是,它有4.152亿美元的现金和1.313亿美元的应收账款将在12个月内到期。因此,其负债总额比其现金和短期应收账款的总和高出1.932亿美元。
Of course, NeoGenomics has a market capitalization of US$2.06b, so these liabilities are probably manageable. However, we do think it is worth keeping an eye on its balance sheet strength, as it may change over time. When analysing debt levels, the balance sheet is the obvious place to start. But ultimately the future profitability of the business will decide if NeoGenomics 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.
当然,NeoGenomics的市值为20.6亿美元,因此这些负债可能是可以控制的。但是,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发生变化。在分析债务水平时,资产负债表是显而易见的起点。但最终,该业务未来的盈利能力将决定NeoGenomics能否随着时间的推移加强其资产负债表。因此,如果您专注于未来,可以查看这份显示分析师利润预测的免费报告。
Over 12 months, NeoGenomics reported revenue of US$592m, which is a gain of 16%, although it did not report any earnings before interest and tax. That rate of growth is a bit slow for our taste, but it takes all types to make a world.
在过去的12个月中,Neogenomics公布的收入为5.92亿美元,增长了16%,尽管它没有报告任何利息和税前收益。这种增长速度对我们的口味来说有点慢,但要创造一个世界需要所有类型。
Caveat Emptor
Caveat Emptor
Over the last twelve months NeoGenomics produced an earnings before interest and tax (EBIT) loss. Indeed, it lost US$96m 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. Quite frankly we think the balance sheet is far from match-fit, although it could be improved with time. However, it doesn't help that it burned through US$31m of cash over the last year. So to be blunt we think it is risky. When analysing debt levels, the balance sheet is the obvious place to start. However, not all investment risk resides within the balance sheet - far from it. For instance, we've identified 1 warning sign for NeoGenomics that you should be aware of.
在过去的十二个月中,NeoGenomics产生了息税前收益(EBIT)亏损。事实上,它在息税前利润水平上损失了9600万美元。考虑到这一点,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的信心。坦率地说,我们认为资产负债表远非匹配,尽管可以随着时间的推移而改善。但是,去年它消耗了3100万美元的现金,这无济于事。因此,坦率地说,我们认为这是有风险的。在分析债务水平时,资产负债表是显而易见的起点。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,我们已经确定了NeoGenomics的1个警告信号,你应该注意这一点。
When all is said and done, sometimes its easier to focus on companies that don't even need debt. Readers can access a list of growth stocks with zero net debt 100% free, right now.
当一切都说完之后,有时更容易将注意力集中在甚至不需要债务的公司上。读者现在可以100%免费访问净负债为零的成长型股票清单。
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