Syntec Optics Holdings (NASDAQ:OPTX) Is Carrying A Fair Bit Of Debt
Syntec Optics Holdings (NASDAQ:OPTX) Is Carrying A Fair Bit Of Debt
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously said that '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 Syntec Optics Holdings, Inc. (NASDAQ:OPTX) does have debt on its balance sheet. But the real question is whether this debt is making the company risky.
作为一位投资者,有人认为波动性而非债务是考虑风险的最佳方式,但沃伦·巴菲特曾说过:“波动性绝非风险的代名词。”我们在考虑公司风险的时候总会关注其债务使用情况,因为过重的债务负担会导致破产。我们注意到Syntec Optics Holdings, Inc. (纳斯达克:OPTX) 的资产负债表上确实有负债。但真正的问题是,这份债务是否让公司变得有风险。
Why Does Debt Bring Risk?
为什么债务会带来风险?
Debt assists a business until the business has trouble paying it off, either with new capital or with free cash flow. Part and parcel of capitalism is the process of 'creative destruction' where failed businesses are mercilessly liquidated by their bankers. 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. When we think about a company's use of debt, we first look at cash and debt together.
债务对一个企业有帮助之处在于,一旦企业有困难不得不靠新资本或自由资金现金流偿还,债务就可以提供一种支持手段。而资本主义的本质之一就是“创造性摧毁”过程,失败的企业往往被银行家们无情清算。尽管这种情况不太常见,但我们经常看到负债累累的公司因为债权人强制要求他们以低迷的价格筹集资本而导致股东永久性稀释。话虽如此,最常见的情况是公司合理管理债务,并从中获益。因此,当我们考虑一个公司的债务使用情况时,首先要注意现金和债务之间的关系。
How Much Debt Does Syntec Optics Holdings Carry?
Syntec Optics Holdings持有多少债务?
As you can see below, Syntec Optics Holdings had US$8.84m of debt at March 2024, down from US$9.69m a year prior. On the flip side, it has US$1.68m in cash leading to net debt of about US$7.15m.
如下所示,Syntec Optics Holdings于2024年3月拥有884万美元的债务,低于前一年的969万美元。另一方面,公司有168万美元的现金,净债务约为715万美元。
![debt-equity-history-analysis](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240627/0-b21ca33396a66aa06fa68b6eed69459a-0-e297a35fe4045c05e1c9e5f1c8e55b81.png/big)
How Healthy Is Syntec Optics Holdings' Balance Sheet?
Syntec Optics Holdings的资产负债表状况如何?
We can see from the most recent balance sheet that Syntec Optics Holdings had liabilities of US$9.81m falling due within a year, and liabilities of US$2.95m due beyond that. Offsetting this, it had US$1.68m in cash and US$5.09m in receivables that were due within 12 months. So it has liabilities totalling US$5.99m more than its cash and near-term receivables, combined.
我们可以从最新的资产负债表上看到,Syntec Optics Holdings有981万美元的短期到期负债和295万美元的长期到期负债。与此同时,公司有168万美元的现金和509万美元的预期收款(12个月内)。因此,其负债总额超过现金和短期应收账款的合计599万美元。
Since publicly traded Syntec Optics Holdings shares are worth a total of US$86.2m, it seems unlikely that this level of liabilities would be a major threat. Having said that, it's clear that we should continue to monitor its balance sheet, lest it change for the worse. When analysing debt levels, the balance sheet is the obvious place to start. But it is Syntec Optics Holdings's earnings that will influence how the balance sheet holds up in the future. So if you're keen to discover more about its earnings, it might be worth checking out this graph of its long term earnings trend.
由于公开交易的Syntec Optics Holdings股票总价值为8620万美元,因此这种程度的负债看起来不太可能成为主要威胁。话虽如此,我们仍需密切关注其资产负债表,以防情况变得更糟。在分析债务水平时,资产负债表是明显的起点。但实际上,Syntec Optics Holdings的盈利状况将影响资产负债表在未来的表现。因此,如果您有兴趣了解更多有关其收入的信息,可以查看其长期收入趋势图。
Over 12 months, Syntec Optics Holdings reported revenue of US$29m, which is a gain of 3.7%, 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,Syntec Optics Holdings的营业收入为2900万美元,增长了3.7%,尽管其未报告任何利息收入和利润。我们对这种增长速度感到有些缓慢,但能够在世界上找到所有类型的企业。
Caveat Emptor
买方自负。
Over the last twelve months Syntec Optics Holdings produced an earnings before interest and tax (EBIT) loss. To be specific the EBIT loss came in at US$60k. 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. Surprisingly, we note that it actually reported positive free cash flow of US$186k and a profit of US$714k. So one might argue that there's still a chance it can get things on the right track. When analysing debt levels, the balance sheet is the obvious place to start. But ultimately, every company can contain risks that exist outside of the balance sheet. For example, we've discovered 3 warning signs for Syntec Optics Holdings (1 shouldn't be ignored!) that you should be aware of before investing here.
在过去的12个月中,Syntec Optics Holdings的息税前利润为负数。确切地说,息税前利润亏损达到了60,000美元。结合上述负债,我们并不确定公司是否应该使用如此高的债务。坦白地说,我们认为资产负债表还远远不够健康,尽管随着时间的推移,它可能会得到改善。令人惊讶的是,我们注意到它实际上报告了186,000美元的正面自由现金流和714,000美元的利润。因此,可以说还有机会让公司走上正确的轨道。在分析债务水平时,资产负债表是明显的起点。但最终,每个公司都可能存在超出资产负债表之外的风险。例如,在在此之前,我们发现Syntec Optics Holdings存在3个问题(1个不应被忽视!),您在此之前应该了解一下。
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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