These 4 Measures Indicate That Skyverse Technology (SHSE:688361) Is Using Debt Reasonably Well
These 4 Measures Indicate That Skyverse Technology (SHSE:688361) Is Using Debt Reasonably Well
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.' 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 can see that Skyverse Technology Co., Ltd. (SHSE:688361) does use debt in its business. But the more important question is: how much risk is that debt creating?
戴维·伊本说得好:“波动性不是我们关心的风险。我们关心的是避免资本永久损失。” 当我们考虑一家公司的风险时,我们总是喜欢看看它的债务使用情况,因为债务过载可能导致破产。我们可以看到Skyverse Technology Co.,Ltd.(SHSE:688361)在业务中确实使用了债务。但更重要的问题是:这些债务制造了多少风险?
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. In the worst case scenario, a company can go bankrupt if it cannot pay its creditors. However, a more common (but still painful) scenario is that it has to raise new equity capital at a low price, thus permanently diluting shareholders. 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. When we examine debt levels, we first consider both cash and debt levels, together.
债务能够在企业缺乏新资本或自由现金流的情况下提供帮助。在最坏的情况下,公司无法支付其债权人的情况下可能会破产。但是,更常见的情况是,公司需要以较低的价格筹集新的股本资本,从而永久地稀释股东的权益。然而,在替代稀释的情况下,债务可以是一种极好的工具,可为需要在高回报率下进行成长投资的企业提供资本。当我们检查债务水平时,我们首先考虑现金和债务水平。
What Is Skyverse Technology's Debt?
Skyverse Technology的债务是什么?
As you can see below, Skyverse Technology had CN¥93.0m of debt at March 2024, down from CN¥181.0m a year prior. But on the other hand it also has CN¥1.23b in cash, leading to a CN¥1.14b net cash position.
正如您下面所看到的,Skyverse Technology于2024年3月的债务为9300万元人民币,比去年同期的18100万元人民币有所下降。但另一方面,它也有12.3亿元人民币的现金,导致11.4亿元人民币的净现金头寸。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240812/0-e789c377caee87bf44bd2d4d8ced8933-0-86f771457987e60aa7f831a0bfe99742.png/big)
A Look At Skyverse Technology's Liabilities
审视Skyverse Technology的负债
According to the last reported balance sheet, Skyverse Technology had liabilities of CN¥990.3m due within 12 months, and liabilities of CN¥142.1m due beyond 12 months. Offsetting these obligations, it had cash of CN¥1.23b as well as receivables valued at CN¥181.3m due within 12 months. So it actually has CN¥277.8m more liquid assets than total liabilities.
根据最近披露的资产负债表,Skyverse Technology在12个月内有9903万元人民币的到期负债,超过12个月的到期负债为1421万元人民币。抵消这些责任,它有12.3亿元人民币的现金,以及价值1813万人民币的应收款项。所以它实际上有2778万元人民币的流动资产超过总负债。
Having regard to Skyverse Technology's size, it seems that its liquid assets are well balanced with its total liabilities. So it's very unlikely that the CN¥17.9b company is short on cash, but still worth keeping an eye on the balance sheet. Succinctly put, Skyverse Technology boasts net cash, so it's fair to say it does not have a heavy debt load!
考虑到Skyverse Technology的规模,似乎其流动资产与总负债之间的平衡良好。因此,这家市值179亿元人民币的公司很难缺乏现金,但仍值得关注其资产负债表。简而言之,Skyverse Technology拥有净现金,因此可以说它没有重债负担!
It was also good to see that despite losing money on the EBIT line last year, Skyverse Technology turned things around in the last 12 months, delivering and EBIT of CN¥24m. 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 Skyverse Technology 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.
去年EBIt线上亏损,但很高兴看到Skyverse Technology在过去12个月中扭转局面,提供了2400万元人民币的EBIt。毫无疑问,我们从资产负债表中学到的大部分是关于债务的。但最终业务的未来盈利能力将决定Skyverse Technology是否能随着时间的推移加强其资产负债表。因此,如果您想看看专业人士的看法,您可能会发现对分析师利润预测的这份免费报告很有趣。
Finally, while the tax-man may adore accounting profits, lenders only accept cold hard cash. While Skyverse Technology 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. Over the last year, Skyverse Technology saw substantial negative free cash flow, in total. While investors are no doubt expecting a reversal of that situation in due course, it clearly does mean its use of debt is more risky.
最后,虽然税务人员可能会崇拜会计利润,但贷款人只接受冰冷的现金。虽然Skyverse Technology在其资产负债表中有净现金,但仍值得看看其将利息和税前利润(EBIT)转化为自由现金流的能力,以帮助我们了解其构建(或侵蚀)现金余额的速度。在过去的一年里,Skyverse Technology总计获得了大量负面的自由现金流。虽然投资者毫无疑问期望在适当的时候扭转这种局面,但这显然意味着其债务使用更加冒险。
Summing Up
总之
While it is always sensible to investigate a company's debt, in this case Skyverse Technology has CN¥1.14b in net cash and a decent-looking balance sheet. So we don't have any problem with Skyverse Technology's use of debt. 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 Skyverse Technology you should know about.
虽然调查一家公司的债务始终是明智的,在这种情况下,Skyverse Technology拥有1.14亿元人民币的净现金和看起来不错的资产负债表。因此,我们对Skyverse Technology使用债务没有任何问题。在分析债务水平时,资产负债表是开始的显而易见的地方。但最终,每家公司都可能存在超出资产负债表的风险。这些风险很难发现。每家公司都有它们,我们已经发现了Skyverse Technology的1个警告信号,您应该知道。
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债务负担的股票的投资者,那么不要犹豫,立即发现我们独家的净现金增长股票列表。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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。
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。