These 4 Measures Indicate That Hubei Jumpcan Pharmaceutical (SHSE:600566) Is Using Debt Safely
These 4 Measures Indicate That Hubei Jumpcan Pharmaceutical (SHSE:600566) Is Using Debt Safely
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. We can see that Hubei Jumpcan Pharmaceutical Co., Ltd. (SHSE:600566) does use debt in its business. 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。”当你检查公司的资产负债表的风险时,考虑它的资产负债表是很自然的,因为企业倒闭时通常会涉及债务。我们可以看到,湖北Jumpcan药业有限公司(上海证券交易所股票代码:600566)确实在其业务中使用了债务。但是,股东是否应该担心其债务的使用?
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. If things get really bad, the lenders can take control of the business. 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. 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.
债务是帮助企业发展的工具,但是如果企业无法还清贷款人,那么债务就任其摆布。如果情况变得非常糟糕,贷款人可以控制业务。但是,更常见(但仍然昂贵)的情况是,公司必须以低廉的股价稀释股东才能控制债务。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。考虑公司的债务水平的第一步是同时考虑其现金和债务。
How Much Debt Does Hubei Jumpcan Pharmaceutical Carry?
湖北健康药业背负了多少债务?
As you can see below, at the end of December 2023, Hubei Jumpcan Pharmaceutical had CN¥1.04b of debt, up from CN¥400.0m a year ago. Click the image for more detail. But it also has CN¥10.9b in cash to offset that, meaning it has CN¥9.87b net cash.
如下所示,截至2023年12月底,湖北Jumpcan Pharmical的债务为10.4亿元人民币,高于去年同期的4亿元人民币。点击图片了解更多详情。但它也有109亿元的现金来抵消这一点,这意味着它的净现金为98.7亿元人民币。
![debt-equity-history-analysis](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240411/0-85f3f9eb112b18b5c9b7d9238c6987ad-0-226f47464e392826663018e25d2b8b4f.png/big)
A Look At Hubei Jumpcan Pharmaceutical's Liabilities
看看湖北Jumpcan Pharmical的负债
The latest balance sheet data shows that Hubei Jumpcan Pharmaceutical had liabilities of CN¥4.59b due within a year, and liabilities of CN¥183.0m falling due after that. Offsetting these obligations, it had cash of CN¥10.9b as well as receivables valued at CN¥2.80b due within 12 months. So it actually has CN¥8.94b more liquid assets than total liabilities.
最新的资产负债表数据显示,湖北Jumpcan Pharmical的负债为45.9亿元人民币,此后到期的负债为1.830亿元人民币。除了这些债务外,它还有109亿元人民币的现金以及价值28亿元人民币的应收账款将在12个月内到期。所以它实际上有8.94亿元人民币 更多 流动资产超过总负债。
It's good to see that Hubei Jumpcan Pharmaceutical has plenty of liquidity on its balance sheet, suggesting conservative management of liabilities. Given it has easily adequate short term liquidity, we don't think it will have any issues with its lenders. Succinctly put, Hubei Jumpcan Pharmaceutical boasts net cash, so it's fair to say it does not have a heavy debt load!
很高兴看到湖北Jumpcan Pharmical的资产负债表上有充足的流动性,这表明对负债的管理比较保守。鉴于它很容易获得足够的短期流动性,我们认为其贷款机构不会有任何问题。简而言之,湖北Jumpcan Pharmical拥有净现金,因此可以说它没有沉重的债务负担!
Also positive, Hubei Jumpcan Pharmaceutical grew its EBIT by 29% in the last year, and that should make it easier to pay down debt, going forward. 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 Hubei Jumpcan Pharmaceutical's ability to maintain a healthy balance sheet going forward. So if you're focused on the future you can check out this free report showing analyst profit forecasts.
同样乐观的是,湖北Jumpcan Pharmical去年将其息税前利润增长了29%,这将使未来更容易偿还债务。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,将决定湖北Jumpcan Pharmical未来维持健康资产负债表的能力。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。
But our final consideration is also important, because a company cannot pay debt with paper profits; it needs cold hard cash. While Hubei Jumpcan Pharmaceutical has net cash on its balance sheet, it's still worth taking a look at its ability to convert earnings before interest and tax (EBIT) to free cash flow, to help us understand how quickly it is building (or eroding) that cash balance. Happily for any shareholders, Hubei Jumpcan Pharmaceutical actually produced more free cash flow than EBIT over the last three years. That sort of strong cash conversion gets us as excited as the crowd when the beat drops at a Daft Punk concert.
但是我们最终的考虑因素也很重要,因为公司无法用纸面利润来偿还债务;它需要冷硬现金。尽管湖北Jumpcan Pharmical的资产负债表上有净现金,但仍值得一看其将息税前收益(EBIT)转换为自由现金流的能力,以帮助我们了解其建立(或侵蚀)现金余额的速度有多快。令所有股东感到高兴的是,在过去三年中,湖北Jumpcan Pharmical产生的自由现金流实际上超过了息税前利润。当Daft Punk音乐会的节拍下降时,这种强劲的现金转换让我们和观众一样兴奋。
Summing Up
总结
While it is always sensible to investigate a company's debt, in this case Hubei Jumpcan Pharmaceutical has CN¥9.87b in net cash and a decent-looking balance sheet. The cherry on top was that in converted 105% of that EBIT to free cash flow, bringing in CN¥3.2b. When it comes to Hubei Jumpcan Pharmaceutical's debt, we sufficiently relaxed that our mind turns to the jacuzzi. 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. These risks can be hard to spot. Every company has them, and we've spotted 1 warning sign for Hubei Jumpcan Pharmaceutical you should know about.
尽管调查一家公司的债务总是明智的,但在本案中,湖北Jumpcan Pharmical拥有98.7亿元人民币的净现金和不错的资产负债表。最重要的是,它将息税前利润的105%转换为自由现金流,带来了32亿元人民币的收入。说到湖北Jumpcan Pharmaceutical的债务,我们已经足够放松了,以至于我们的注意力转向了按摩浴缸。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。这些风险可能很难发现。每家公司都有它们,我们发现了你应该知道的湖北Jumpcan Pharmaceutical的1个警告信号。
At the end of the day, it's often better to focus on companies that are free from net debt. You can access our special list of such companies (all with a track record of profit growth). It's free.
归根结底,通常最好将注意力集中在没有净负债的公司身上。您可以访问我们的此类公司的特别名单(所有公司都有利润增长记录)。它是免费的。
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