Is Centessa Pharmaceuticals (NASDAQ:CNTA) Weighed On By Its Debt Load?
Is Centessa Pharmaceuticals (NASDAQ:CNTA) Weighed On By Its Debt Load?
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 Centessa Pharmaceuticals plc (NASDAQ:CNTA) does use debt in its business. But should shareholders be worried about its use of debt?
当大卫·伊本说“波动性不是我们关心的风险。我们关心的是避免永久性资本损失。”时,他说得很好。当我们考虑一个公司有多大的风险时,我们总是喜欢看它的债务使用情况,因为债务过载会导致破产。我们可以看到纳斯达克:Centessa Pharmaceuticals plc (NASDAQ:CNTA)在业务中使用了债务。但股东是否应该担心它的债务使用?
Why Does Debt Bring Risk?
为什么债务会带来风险?
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. If things get really bad, the lenders can take control of the business. 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. Of course, plenty of companies use debt to fund growth, without any negative consequences. When we think about a company's use of debt, we first look at cash and debt together.
一般来说,只有当公司不能轻松地支付债务,无论是通过筹集资本还是利用自己的现金流,债务才会成为真正的问题。如果情况变得非常糟糕,贷款人可以控制企业。然而,一种更常见(但仍然痛苦的)情况是,它必须以低价筹集新的股权资本,从而永久性地稀释股东。当然,很多公司使用债务来融资增长,没有任何负面影响。当我们考虑公司使用债务的情况时,我们首先看现金和债务的综合状况。
What Is Centessa Pharmaceuticals's Debt?
Centessa Pharmaceuticals的债务状况是怎样的?
The image below, which you can click on for greater detail, shows that at June 2024 Centessa Pharmaceuticals had debt of US$76.5m, up from US$73.3m in one year. But it also has US$294.8m in cash to offset that, meaning it has US$218.3m net cash.
下面的图像,您可以点击查看更多详情,显示在2024年6月Centessa Pharmaceuticals有7650万美元的债务,比一年前的7330万美元增加了。但它也拥有29480万美元的现金来抵消,这意味着它拥有21830万美元的净现金。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240815/0-f3ad1cc8cf91bd8f5fe3adbca7e78ca5-0-9cdedb0676f16eec76be452ef5990d6a.png/big)
How Strong Is Centessa Pharmaceuticals' Balance Sheet?
Centessa Pharmaceuticals的资产负债表有多强?
We can see from the most recent balance sheet that Centessa Pharmaceuticals had liabilities of US$26.8m falling due within a year, and liabilities of US$85.1m due beyond that. Offsetting these obligations, it had cash of US$294.8m as well as receivables valued at US$41.9m due within 12 months. So it can boast US$224.9m more liquid assets than total liabilities.
我们可以从最近的资产负债表看到,Centessa Pharmaceuticals有2680万美元的负债在一年内到期,8510万美元的负债超过一年到期。抵销这些义务,它拥有29480万美元的现金,以及价值4190万美元的应收款,应于12个月内到期。因此,它可以夸口有超过22490万美元的流动资产超过总负债。
This surplus suggests that Centessa Pharmaceuticals is using debt in a way that is appears to be both safe and conservative. Due to its strong net asset position, it is not likely to face issues with its lenders. Succinctly put, Centessa Pharmaceuticals boasts net cash, so it's fair to say it does not have a heavy debt load! 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 Centessa 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.
这份盈余表明,Centessa Pharmaceuticals使用债务的方式似乎既安全又保守。由于其强劲的净资产位置,它不太可能面临与其贷方的问题。简言之,Centessa Pharmaceuticals拥有净现金,因此可以说它没有沉重的债务负担!毫无疑问,我们从资产负债表上了解债务最多。但是,未来的收益,胜过任何事情,将决定Centessa Pharmaceuticals维持健康资产负债表的能力。因此,如果您关注未来,可以查看这份免费报告,显示分析师的利润预测。
While it hasn't made a profit, at least Centessa Pharmaceuticals booked its first revenue as a publicly listed company, in the last twelve months.
虽然它没有盈利,但至少Centessa Pharmaceuticals在过去12个月公开上市公司的第一笔营业收入。
So How Risky Is Centessa Pharmaceuticals?
Centessa Pharmaceuticals有多冒险?
We have no doubt that loss making companies are, in general, riskier than profitable ones. And we do note that Centessa Pharmaceuticals had an earnings before interest and tax (EBIT) loss, over the last year. And over the same period it saw negative free cash outflow of US$146m and booked a US$157m accounting loss. However, it has net cash of US$218.3m, so it has a bit of time before it will need more capital. Even though its balance sheet seems sufficiently liquid, debt always makes us a little nervous if a company doesn't produce free cash flow regularly. When analysing debt levels, the balance sheet is the obvious place to start. However, not all investment risk resides within the balance sheet - far from it. These risks can be hard to spot. Every company has them, and we've spotted 2 warning signs for Centessa Pharmaceuticals you should know about.
我们毫不怀疑,亏损的公司总体上比盈利的公司更具风险。我们确实注意到Centessa Pharmaceuticals在过去一年中EBIT亏损。在同期内,它见负自由现金流流出14600万美元,录得15700万美元的会计损失。但它有21830万美元的净现金,因此还有一些时间需要更多资本。即使它的资产负债表似乎足够流动,如果一家公司不能定期产生自由现金流,债务总是会让我们有点紧张。当分析债务水平时,资产负债表是一个显而易见的起点。然而,并非所有的投资风险都存在于资产负债表内 - 远非如此。这些风险可能很难发现,每个公司都有这些风险,我们已经发现了2个Centessa Pharmaceuticals的警告信号,您应该知道这些风险。
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,有时候更容易集中精力关注根本不需要债务的公司。读者可以免费访问零净债务增长股票列表。
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