Does Augmedix (NASDAQ:AUGX) Have A Healthy Balance Sheet?
Does Augmedix (NASDAQ:AUGX) Have A Healthy Balance Sheet?
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says 'The biggest investment risk is not the volatility of prices, but whether you will suffer a 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. As with many other companies Augmedix, Inc. (NASDAQ:AUGX) makes use of debt. But the real question is whether this debt is making the company risky.
伯克希尔哈撒韦的查理·芒格背书的外部基金经理李录坦言:“最大的投资风险不是价格波动,而是是否会遭受资本永久损失。”当你考虑一个公司的风险时,看一下它的资产负债表是很自然的事情,因为企业倒闭时通常与债务有关。和许多其他公司一样,Augmedix公司(纳斯达克:AUGX)也利用了债务。但真正的问题是这种债务是否使得这家公司变得更加不稳定。
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. 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. By replacing dilution, though, debt can be an extremely good tool for businesses that need capital to invest in growth at high rates of return. The first step when considering a company's debt levels is to consider its cash and debt together.
债务可以协助业务,直到业务遇到无法用新资本或自由现金流偿还债务的困境为止。如果情况变得非常糟糕,放贷者可以接手业务。然而,更频繁(但仍然代价高昂)的情况是,公司必须以低于市场价格出售股票,永久性地稀释股东,以加强其资产负债表。但是,通过替代稀释,债务可以成为需要资本以高回报率投资增长的企业的一种极好的工具。在考虑公司的债务水平时,第一步是将其现金和债务放在一起考虑。
What Is Augmedix's Net Debt?
Augmedix的净债务是多少?
As you can see below, Augmedix had US$20.5m of debt, at March 2024, which is about the same as the year before. You can click the chart for greater detail. But it also has US$37.3m in cash to offset that, meaning it has US$16.8m net cash.
正如你下面所看到的,截至2024年3月,Augmedix的债务为2050万美元,与去年大致相同。要了解更多详情,您可以点击图表。但也有3730万美元的现金可以抵消这些债务,意味着它有1680万美元的净现金。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240720/0-92411e3eb861d960782959ead06e3ff5-0-79e8f2be18a42ef77e6e38b682aafc3e.png/big)
How Healthy Is Augmedix's Balance Sheet?
Augmedix 的资产负债表状况如何
We can see from the most recent balance sheet that Augmedix had liabilities of US$24.5m falling due within a year, and liabilities of US$17.3m due beyond that. Offsetting this, it had US$37.3m in cash and US$9.98m in receivables that were due within 12 months. So it can boast US$5.50m more liquid assets than total liabilities.
从最近的资产负债表可以看出,Augmedix的负债中有2450万美元的债务将在一年内到期,另外1730万美元的债务将在一年后到期。抵销这一点,有3730万美元的现金和998万美元的应收账款将在12个月内到期。因此它可以自豪地宣称,比总负债多了550万美元的流动资产。
This short term liquidity is a sign that Augmedix could probably pay off its debt with ease, as its balance sheet is far from stretched. Simply put, the fact that Augmedix 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 it is future earnings, more than anything, that will determine Augmedix's ability to maintain a healthy balance sheet going forward. So if you want to see what the professionals think, you might find this free report on analyst profit forecasts to be interesting.
这种短期流动性表明Augmedix能够轻松偿还其债务,因为它的资产负债表远未超负荷。简而言之,Augmedix拥有的现金比债务多,这可以说是它能够安全地管理债务的良好迹象。毫无疑问,我们从资产负债表中可以了解到大部分关于负债的信息,但未来的收益,比任何东西都将决定 Augmedix 能否保持一个健康的资产负债表。如果您想了解专业人士的想法,您可以考虑查阅关于分析师盈利预测的免费报告。
Over 12 months, Augmedix reported revenue of US$49m, which is a gain of 45%, although it did not report any earnings before interest and tax. With any luck the company will be able to grow its way to profitability.
在过去的12个月里,Augmedix报告了4900万美元的营业收入,增长了45%,尽管它没有报告任何利息和税前收益。希望这家公司能够通过增长走向盈利。
So How Risky Is Augmedix?
那 Augmedix 有多大的风险?
We have no doubt that loss making companies are, in general, riskier than profitable ones. And in the last year Augmedix had an earnings before interest and tax (EBIT) loss, truth be told. And over the same period it saw negative free cash outflow of US$21m and booked a US$20m accounting loss. But at least it has US$16.8m on the balance sheet to spend on growth, near-term. Augmedix's revenue growth shone bright over the last year, so it may well be in a position to turn a profit in due course. By investing before those profits, shareholders take on more risk in the hope of bigger rewards. 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. We've identified 5 warning signs with Augmedix (at least 2 which shouldn't be ignored) , and understanding them should be part of your investment process.
毫无疑问,亏损的公司一般风险更高。实话实说,过去一年中,Augmedix利息和税前收益亏损,并且在同一时期,其负现金流出达2100万美元,计入账面的亏损为2000万美元。但至少它在短期内有1680万美元的现金用于增长。Augmedix在过去一年中的营收增长非常亮眼,因此它有可能在适当的时候实现盈利。通过在盈利之前投资,股东承担更多风险,希望获得更大的回报。毫无疑问,我们从资产负债表中可以了解到大部分关于负债的信息,但最终,每个公司都可能存在超出资产负债表之外的风险。我们已经确定了Augmedix的5个警告信号(至少有2个不应被忽视),了解这些信号应该成为你进行投资时的一部分。
When all is said and done, sometimes its easier to focus on companies that don't even need debt. Readers can access a list of growth stocks with zero net debt 100% free, right now.
说到底,有时更容易关注那些甚至不需要债务的公司。读者可以免费查看零净债务增长股票列表,立即获得。
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