Is EnGene Holdings (NASDAQ:ENGN) A Risky Investment?
Is EnGene Holdings (NASDAQ:ENGN) A Risky Investment?
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. We note that enGene Holdings Inc. (NASDAQ:ENGN) does have debt on its balance sheet. But is this debt a concern to shareholders?
Howard Marks说得好,与其担心股价波动,不如担心永久性损失的可能性…每个实用的投资者都这么担心。因此,当你考虑任何一支股票的风险时,都需要考虑债务,因为太多的债务可能会让一家公司陷入困境。我们注意到enGene Holdings Inc.(纳斯达克:ENGN)在其资产负债表上确实有债务。但这种债务会成为股东的担忧吗?
When Is Debt Dangerous?
债务何时有危险?
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. 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. 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.
债务可以帮助公司,直到公司有困难支付它,无论是通过新资本还是通过自由现金流。在最坏的情况下,如果公司无法偿还其债权人,公司会破产。尽管这不是太普遍,但我们经常看到负债累累的公司由于债权人迫使它们以低价筹集资本而永久性稀释股东权益。话虽如此,最常见的情况是公司合理管理其债务,以自己的优势为依托。考虑公司债务水平的第一步是将其现金和债务合并考虑。
What Is enGene Holdings's Net Debt?
enGene Holdings的净债务是多少?
You can click the graphic below for the historical numbers, but it shows that enGene Holdings had US$22.7m of debt in April 2024, down from US$70.3m, one year before. However, it does have US$264.8m in cash offsetting this, leading to net cash of US$242.1m.
您可以单击下面的图表查看历史数据,但它显示enGene Holdings在2024年4月有2270万美元的债务,比一年前的7030万美元减少。然而,它有2.648亿美元的现金来抵消这些债务,导致净现金为2.421亿美元。
![debt-equity-history-analysis](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240620/0-557110429b45ce81b915411aa7385584-0-d5c1a7202a5f133f1725d2ce5f0c9789.png/big)
A Look At enGene Holdings' Liabilities
看着enGene Holdings的负债。
Zooming in on the latest balance sheet data, we can see that enGene Holdings had liabilities of US$6.30m due within 12 months and liabilities of US$24.3m due beyond that. On the other hand, it had cash of US$264.8m and US$1.21m worth of receivables due within a year. So it can boast US$235.5m more liquid assets than total liabilities.
放大最新的资产负债表数据,我们可以看到enGene Holdings需要在12个月内偿还630万美元的负债,而在12个月后需要偿还2430万美元的负债。另一方面,它有2.648亿美元的现金和121万美元的应收账款在一年内到期。因此,它可以自夸比资产更加流通。。总负债。
This surplus strongly suggests that enGene Holdings has a rock-solid balance sheet (and the debt is of no concern whatsoever). Having regard to this fact, we think its balance sheet is as strong as an ox. Simply put, the fact that enGene Holdings has more cash than debt is arguably a good indication that it can manage its debt safely. 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 enGene Holdings can strengthen its balance sheet over time. So if you want to see what the professionals think, you might find this free report on analyst profit forecasts to be interesting.
这样的盈余强烈表明enGene Holdings拥有坚如磐石的资产负债表(债务绝对不是问题)。有鉴于这一事实,我们认为其资产负债表像一头公牛一样强大。简而言之,enGene Holdings具有比债务多的现金的事实可以认为是它可以安全地管理债务的良好指示。毫无疑问,我们从资产负债表中了解债务的大部分信息。但最终,业务的未来盈利能力将决定enGene Holdings能否随着时间的推移加强其资产负债表。因此,如果您想了解专业人士的想法,可以看看这份有关分析师利润预测的免费报告。
Given its lack of meaningful operating revenue, enGene Holdings shareholders no doubt hope it can fund itself until it has a profitable product.
鉴于其缺乏有意义的营业收入,enGene Holdings的股东无疑希望它能够为自己融资,直到其拥有盈利的产品为止。
So How Risky Is enGene Holdings?
那么enGene Holdings有多风险?
By their very nature companies that are losing money are more risky than those with a long history of profitability. And the fact is that over the last twelve months enGene Holdings lost money at the earnings before interest and tax (EBIT) line. And over the same period it saw negative free cash outflow of US$37m and booked a US$115m accounting loss. But the saving grace is the US$242.1m on the balance sheet. That means it could keep spending at its current rate for more than two years. 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. There's no doubt that we learn most about debt from the balance sheet. But ultimately, every company can contain risks that exist outside of the balance sheet. Be aware that enGene Holdings is showing 3 warning signs in our investment analysis , and 1 of those is significant...
从公司财务状况来看,亏损的公司比那些拥有长期盈利历史的公司风险更大。而且,在过去的12个月中,enGene Holdings在利息和税前收益(EBIT)方面亏损,自由现金流流出3700万美元,同时还提前计入了1.15亿美元的亏损。但好在它在资产负债表上有2.421亿美元的现金与等价物,这意味着它当前的支出水平可以维持两年以上。总的来说,enGene Holdings的资产负债表目前似乎并不过于冒险,但在我们看到正面的自由现金流之前,我们仍然非常谨慎。毫无疑问,我们最能从资产负债表中了解公司债务情况。但最终,每个公司都可能存在资产负债表之外的风险。值得注意的是,在我们的投资分析中,enGene Holdings显示了3个预警信号,其中1个是显著的…
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.
如果您有兴趣投资能够在不负债的情况下增长利润的企业,请查看这份免费列表,其中列出了在资产负债表上拥有净现金的成长型企业。
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这篇文章是Simply Wall St的一般性文章。我们根据历史数据和分析师预测提供评论,只使用公正的方法论,我们的文章并不意味着提供任何金融建议。文章不构成买卖任何股票的建议,也不考虑您的目标或您的财务状况。我们的目标是带给您基本数据驱动的长期关注分析。请注意,我们的分析可能不考虑最新的价格敏感公司公告或定性材料。Simply Wall St没有任何股票头寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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