Health Check: How Prudently Does Suzhou Novosense Microelectronics (SHSE:688052) Use Debt?
Health Check: How Prudently Does Suzhou Novosense Microelectronics (SHSE:688052) Use Debt?
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' When we think about how risky a company is, we always like to look at its use of debt, since debt overload can lead to ruin. We note that Suzhou Novosense Microelectronics Co., Ltd. (SHSE:688052) does have debt on its balance sheet. But is this debt a concern to shareholders?
沃伦·巴菲特曾说过一句名言:“波动性远非风险的代名词。”当我们思考一家公司的风险有多大时,我们总是喜欢考虑其债务的用途,因为债务过载可能导致破产。我们注意到,苏州诺富信微电子有限公司(上海证券交易所股票代码:688052)的资产负债表上确实有债务。但是这笔债务是股东关心的问题吗?
What Risk Does Debt Bring?
债务会带来什么风险?
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 frequent (but still costly) occurrence is where a company must issue shares at bargain-basement prices, permanently diluting shareholders, just to shore up its balance sheet. Having said that, the most common situation is where a company manages its debt reasonably well - and to its own advantage. When we think about a company's use of debt, we first look at 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,如果一家公司无法偿还债权人,它可能会破产。但是,更频繁(但仍然代价高昂)的情况是,公司必须以低廉的价格发行股票,永久稀释股东,以支撑其资产负债表。话虽如此,最常见的情况是公司合理地管理其债务,而且对自己有利。当我们考虑公司对债务的使用时,我们首先要同时考虑现金和债务。
What Is Suzhou Novosense Microelectronics's Debt?
苏州诺富信微电子的债务是多少?
As you can see below, at the end of September 2023, Suzhou Novosense Microelectronics had CN¥306.6m of debt, up from CN¥28.4m a year ago. Click the image for more detail. However, it does have CN¥3.44b in cash offsetting this, leading to net cash of CN¥3.13b.
如下所示,截至2023年9月底,苏州诺富森微电子的债务为3.066亿元人民币,高于去年同期的2840万元人民币。点击图片查看更多细节。但是,它确实有34.4亿元的现金抵消了这一点,净现金为31.3亿元人民币。
![debt-equity-history-analysis](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240312/0-e761c9a562ca1d1fa33a21fd05b7aa86-0-e71bc49e2fd0dcd6b2d216ee2ea28893.png/big)
How Healthy Is Suzhou Novosense Microelectronics' Balance Sheet?
苏州诺富信微电子的资产负债表有多健康?
Zooming in on the latest balance sheet data, we can see that Suzhou Novosense Microelectronics had liabilities of CN¥516.8m due within 12 months and liabilities of CN¥34.0m due beyond that. On the other hand, it had cash of CN¥3.44b and CN¥282.4m worth of receivables due within a year. So it can boast CN¥3.17b more liquid assets than total liabilities.
放大最新的资产负债表数据,我们可以看到,苏州诺富森微电子在12个月内到期的负债为5.168亿元人民币,在此之后到期的负债为3,400万元人民币。另一方面,它有一年内到期的现金为34.4亿元人民币,还有价值2.824亿元人民币的应收账款。因此,它拥有的流动资产可以多出31.7亿元人民币 总 负债。
This surplus suggests that Suzhou Novosense Microelectronics is using debt in a way that is appears to be both safe and conservative. Because it has plenty of assets, it is unlikely to have trouble with its lenders. Succinctly put, Suzhou Novosense Microelectronics boasts net cash, so it's fair to say it does not have a heavy debt load! 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 Suzhou Novosense Microelectronics 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.
这种盈余表明,苏州诺富森微电子正在以一种看似既安全又保守的方式使用债务。由于它拥有充足的资产,因此不太可能与贷款人发生麻烦。简而言之,苏州诺富森微电子拥有净现金,因此可以公平地说,它没有沉重的债务负担!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,该业务未来的盈利能力将决定苏州Novosense微电子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, Suzhou Novosense Microelectronics made a loss at the EBIT level, and saw its revenue drop to CN¥1.3b, which is a fall of 22%. To be frank that doesn't bode well.
在过去的12个月中,苏州诺富森微电子在息税前利润水平上出现亏损,收入降至13亿元人民币,下降22%。坦率地说,这并不是一个好兆头。
So How Risky Is Suzhou Novosense Microelectronics?
那么,苏州诺富森微电子的风险有多大?
We have no doubt that loss making companies are, in general, riskier than profitable ones. And in the last year Suzhou Novosense Microelectronics had an earnings before interest and tax (EBIT) loss, truth be told. Indeed, in that time it burnt through CN¥641m of cash and made a loss of CN¥236m. Given it only has net cash of CN¥3.13b, the company may need to raise more capital if it doesn't reach break-even soon. Overall, its balance sheet doesn't seem overly risky, at the moment, but we're always cautious until we see the positive free cash flow. For riskier companies like Suzhou Novosense Microelectronics I always like to keep an eye on the long term profit and revenue trends. Fortunately, you can click to see our interactive graph of its profit, revenue, and operating cashflow.
我们毫不怀疑,总的来说,亏损公司比盈利的公司风险更大。说实话,去年苏州诺富森微电子出现了息税前收益(EBIT)亏损。事实上,在那段时间里,它烧毁了6.41亿加元的现金,损失了2.36亿元人民币。鉴于其净现金仅为31.3亿元人民币,如果不尽快实现盈亏平衡,该公司可能需要筹集更多资金。总体而言,其资产负债表目前似乎风险不大,但在看到正自由现金流之前,我们始终保持谨慎。对于像苏州诺富森微电子这样的风险较高的公司,我总是喜欢关注长期的利润和收入趋势。幸运的是,您可以点击查看我们的利润、收入和运营现金流的交互式图表。
Of course, if you're the type of investor who prefers buying stocks without the burden of debt, then don't hesitate to discover our exclusive list of net cash growth stocks, today.
当然,如果你是那种喜欢在没有债务负担的情况下购买股票的投资者,那么请立即查看我们的独家净现金增长股票清单。
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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。