Is Rhythm Pharmaceuticals (NASDAQ:RYTM) Weighed On By Its Debt Load?
Is Rhythm Pharmaceuticals (NASDAQ:RYTM) Weighed On By Its Debt Load?
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that debt - which is usually involved in bankruptcies - is a very important factor, when you assess how risky a company is. Importantly, Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) does carry debt. But should shareholders be worried about its use of debt?
沃伦·巴菲特曾说过一句名言:“波动性远非风险的代名词。”因此,当你评估公司的风险时,看来聪明的货币知道债务(通常涉及破产)是一个非常重要的因素。重要的是,Rythm Pharmicals, Inc.(纳斯达克股票代码:RYTM)确实有债务。但是,股东是否应该担心其债务的使用?
When Is Debt Dangerous?
债务何时危险?
Generally speaking, debt only becomes a real problem when a company can't easily pay it off, either by raising capital or with its own 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. The first step when considering a company's debt levels is to consider its cash and debt together.
一般而言,只有当公司无法通过筹集资金或使用自己的现金流轻松还清债务时,债务才会成为真正的问题。资本主义的重要组成部分是 “创造性破坏” 的过程,在这个过程中,银行家无情地清算倒闭的企业。尽管这种情况并不常见,但我们经常看到负债公司永久稀释股东,因为贷款人迫使他们以不良价格筹集资金。话虽如此,最常见的情况是公司合理地管理债务,这也是为了自己的利益。在考虑公司的债务水平时,第一步是将现金和债务放在一起考虑。
What Is Rhythm Pharmaceuticals's Debt?
瑞德制药的债务是多少?
As you can see below, at the end of June 2024, Rhythm Pharmaceuticals had US$108.4m of debt, up from none a year ago. Click the image for more detail. However, it does have US$319.1m in cash offsetting this, leading to net cash of US$210.8m.
如下所示,截至2024年6月底,Rhythm Pharmicals的债务为1.084亿美元,高于去年同期的零。点击图片查看更多细节。但是,它确实有3.191亿美元的现金抵消了这一点,净现金为2.108亿美元。
![big](https://newsfile.futunn.com/public/NN-PersistNewsContentImage/7781/20240814/0-1bef1ebeb4ebb3b295258e7c3e35a259-0-8fe5ee9a99b87b062cf2bfef25db4991.png/big)
How Healthy Is Rhythm Pharmaceuticals' Balance Sheet?
Rhythm Pharmaceuticals 的资产负债表有多健康?
Zooming in on the latest balance sheet data, we can see that Rhythm Pharmaceuticals had liabilities of US$54.7m due within 12 months and liabilities of US$147.6m due beyond that. Offsetting this, it had US$319.1m in cash and US$17.6m in receivables that were due within 12 months. So it can boast US$134.4m more liquid assets than total liabilities.
放大最新的资产负债表数据,我们可以看到,Rhythm Pharmicals在12个月内到期的负债为5,470万美元,之后到期的负债为1.476亿美元。与此相抵消的是,它有3.191亿美元的现金和1760万美元的应收账款将在12个月内到期。因此,它拥有比总负债多1.344亿美元的流动资产。
This short term liquidity is a sign that Rhythm Pharmaceuticals could probably pay off its debt with ease, as its balance sheet is far from stretched. Simply put, the fact that Rhythm Pharmaceuticals has more cash than debt is arguably a good indication that it can manage its debt safely. When analysing debt levels, the balance sheet is the obvious place to start. But it is future earnings, more than anything, that will determine Rhythm Pharmaceuticals's ability to maintain a healthy balance sheet going forward. So if you're focused on the future you can check out this free report showing analyst profit forecasts.
这种短期流动性表明,Rhythm Pharmicals可能会轻松偿还债务,因为其资产负债表远未紧张。简而言之,Rhythm Pharmicals的现金多于债务这一事实可以说是一个很好的迹象,表明它可以安全地管理债务。在分析债务水平时,资产负债表是显而易见的起点。但是,未来的收益将决定Rhythm Pharmicals未来维持健康资产负债表的能力。因此,如果您专注于未来,可以查看这份显示分析师利润预测的免费报告。
Over 12 months, Rhythm Pharmaceuticals reported revenue of US$102m, which is a gain of 133%, although it did not report any earnings before interest and tax. So its pretty obvious shareholders are hoping for more growth!
在过去的12个月中,Rhythm Pharmicals公布的收入为1.02亿美元,增长了133%,尽管它没有报告任何利息和税前收益。因此,很明显,股东们希望获得更多的增长!
So How Risky Is Rhythm Pharmaceuticals?
那么 Rhythm 制药的风险有多大?
We have no doubt that loss making companies are, in general, riskier than profitable ones. And the fact is that over the last twelve months Rhythm Pharmaceuticals lost money at the earnings before interest and tax (EBIT) line. And over the same period it saw negative free cash outflow of US$169m and booked a US$261m accounting loss. However, it has net cash of US$210.8m, so it has a bit of time before it will need more capital. The good news for shareholders is that Rhythm Pharmaceuticals has dazzling revenue growth, so there's a very good chance it can boost its free cash flow in the years to come. High growth pre-profit companies may well be risky, but they can also offer great rewards. 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 1 warning sign for Rhythm Pharmaceuticals that you should be aware of before investing here.
我们毫不怀疑,总的来说,亏损公司比盈利的公司风险更大。事实是,在过去的十二个月中,Rhythm Pharmicals的息税前收益(EBIT)亏损。同期,它的自由现金流出为负1.69亿美元,会计亏损为2.61亿美元。但是,它的净现金为2.108亿美元,因此在需要更多资金之前还有一段时间。对股东来说,好消息是,Rhythm Pharmicals的收入增长令人眼花缭乱,因此它很有可能在未来几年增加自由现金流。高增长的盈利前公司很可能会有风险,但它们也可以提供丰厚的回报。在分析债务水平时,资产负债表是显而易见的起点。但归根结底,每家公司都可以控制资产负债表之外存在的风险。例如,我们发现了Rhythm Pharmicals的1个警告信号,在这里投资之前,你应该注意这个信号。
At the end of the day, it's often better to focus on companies that are free from net debt. You can access our special list of such companies (all with a track record of profit growth). It's free.
归根结底,通常最好将注意力集中在没有净负债的公司身上。您可以访问我们的此类公司的特别名单(所有公司都有利润增长记录)。它是免费的。
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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。