Toyou Feiji Electronics (SZSE:300302) Is Carrying A Fair Bit Of Debt
Toyou Feiji Electronics (SZSE:300302) Is Carrying A Fair Bit Of Debt
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' 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 note that Toyou Feiji Electronics Co., Ltd. (SZSE:300302) does have debt on its balance sheet. But is this debt a concern to shareholders?
沃伦·巴菲特曾经说过:“波动远非风险的代名词。” 当你评估公司的风险性时,考虑到债务情况是很自然的,因为公司破产时经常涉及到债务。 我们注意到,同有科技股份有限公司(SZSE:300302)的资产负债表确实存在债务。 但是,这项债务是否对股东构成担忧呢?
What Risk Does Debt Bring?
债务带来了什么风险?
Debt assists a business until the business has trouble paying it off, either with new capital or with free cash flow. If things get really bad, the lenders can take control of the business. 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. Of course, plenty of companies use debt to fund growth, without any negative consequences. When we examine debt levels, we first consider both cash and debt levels, together.
债务为企业提供帮助,直到企业因新资本或自由现金流无法偿还债务时,债务才会对企业产生负面影响。 如果情况变得非常糟糕,放贷人可以接管企业。 虽然这种情况并不常见,但我们经常看到负债累累的企业因放贷人强迫其以低于市场价格的价格募资而对股东造成永久稀释。 当然,许多公司利用债务为增长提供资金,没有任何负面后果。 在审查债务水平时,我们首先考虑现金和债务水平。
How Much Debt Does Toyou Feiji Electronics Carry?
同有科技电子股份有限公司背负多少债务?
You can click the graphic below for the historical numbers, but it shows that as of March 2024 Toyou Feiji Electronics had CN¥403.8m of debt, an increase on CN¥262.0m, over one year. However, because it has a cash reserve of CN¥137.6m, its net debt is less, at about CN¥266.2m.
你可以点击下面的图表查看历史数据,但它显示,截至2024年3月,同有科技电子有40380万元的债务,比去年的26200万元增加。 但是,由于它拥有13760万元的现金储备,因此其净债务较少,约为26620万元。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240716/0-f7a3f31aae7d82ac0e23b4d9d8a8d264-0-4be877910bd04e0aef9edefa29f4a93d.png/big)
How Strong Is Toyou Feiji Electronics' Balance Sheet?
同有科技电子的资产负债表有多强?
Zooming in on the latest balance sheet data, we can see that Toyou Feiji Electronics had liabilities of CN¥342.9m due within 12 months and liabilities of CN¥210.9m due beyond that. On the other hand, it had cash of CN¥137.6m and CN¥607.4m worth of receivables due within a year. So it can boast CN¥191.2m more liquid assets than total liabilities.
放大最新的资产负债表数据,我们可以看到:同有科技电子有CN¥34290万的负债在12个月内到期,CN¥21090万的负债到期超过12个月。 另一方面,它有CN¥13760万元现金和CN¥60740万元应收账款在一年内到期。所以它更具有CN¥19120万元的流动资产而不是总负债。
This short term liquidity is a sign that Toyou Feiji Electronics could probably pay off its debt with ease, as its balance sheet is far from stretched. When analysing debt levels, the balance sheet is the obvious place to start. But you can't view debt in total isolation; since Toyou Feiji Electronics will need earnings to service that debt. 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.
这种短期流动性表明,同有科技电子证券公司很可能可以轻松偿还其债务,因为它的资产负债表远未紧张。 在分析债务水平时,资产负债表是明显的开始。 但是,由于同有科技电子证券公司需要盈利来服务于其债务,所以不能将债务总量孤立地看待。 因此,如果您有兴趣了解其盈利情况,可以查看其长期盈利趋势图表。
Over 12 months, Toyou Feiji Electronics made a loss at the EBIT level, and saw its revenue drop to CN¥296m, which is a fall of 33%. To be frank that doesn't bode well.
在过去的12个月中,同有科技电子亏损并看到其营业收入下降到CN¥29600万,下降了33%。 坦白地说,这不是一个好的迹象。
Caveat Emptor
买方自负。
Not only did Toyou Feiji Electronics's revenue slip over the last twelve months, but it also produced negative earnings before interest and tax (EBIT). Indeed, it lost CN¥67m at the EBIT level. Looking on the brighter side, the business has adequate liquid assets, which give it time to grow and develop before its debt becomes a near-term issue. But we'd want to see some positive free cashflow before spending much time on trying to understand the stock. This one is a bit too risky for our liking. 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. These risks can be hard to spot. Every company has them, and we've spotted 1 warning sign for Toyou Feiji Electronics you should know about.
同有科技电子不仅在过去12个月中营业收入下降,而且在利润和税前利润(EBIT)上也产生了负收益。 实际上,它在EBIT水平上亏损了6700万元。 在光明的一面,该企业有足够的流动资产,使其在债务成为近期问题之前有时间成长和发展。 但是,我们希望在花费更多时间了解该股票之前看到一些正面的自由现金流。 这项业务对我们来说有点太冒险了。 在分析债务水平时,资产负债表是明显的开始。 但是,最终,每个公司都可能包含存在于资产负债表之外的风险。 这些风险可能难以发现。每个公司都有它们,我们已经发现单位有科技电子的1个警告信号,您应该了解。
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,如果您是那种喜欢购买没有负债负担的股票的投资者,则今天就可以发现我们的独家净现金增长股清单。
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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
对本文有任何反馈?对内容有任何疑虑?请直接与我们联系。或者,发送电子邮件至editorial-team@simplywallst.com。