Does Maravai LifeSciences Holdings (NASDAQ:MRVI) Have A Healthy Balance Sheet?
Does Maravai LifeSciences Holdings (NASDAQ:MRVI) Have A Healthy Balance Sheet?
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously said that 'Volatility is far from synonymous with risk.' 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 note that Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) does have debt on its balance sheet. But is this debt a concern to shareholders?
作为一位投资者,有人认为波动性而不是债务是风险的最佳体现方式,但沃伦·巴菲特曾说过,“波动性远非风险的代名词”。当我们考虑公司的风险程度时,我们总是喜欢看看它对债务的使用情况,因为过重的债务负担可能会导致破产。我们注意到,Maravai LifeSciences Holdings,Inc。 (纳斯达克:MRVI) 的资产负债表上确实有债务。但这种债务是否会对股东造成担忧呢?
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. If things get really bad, the lenders can take control of the business. However, a more usual (but still expensive) situation is where a company must dilute shareholders at a cheap share price simply to get debt under control. 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.
债务在企业遇到困难无法通过新资本或自由现金流偿还时会给企业提供帮助。但事情变得非常糟糕时,借款人会接管企业。然而,更常见(但仍然昂贵)的情况是公司必须以低廉的股票价格稀释股东,以便控制债务。虽然取而代之的是稀释,但债务对需要资本以高回报率投资增长的企业来说是一种非常好的工具。考虑企业债务水平的第一步是同时考虑现金和债务。
What Is Maravai LifeSciences Holdings's Debt?
Maravai LifeSciences Holdings的债务是什么?
As you can see below, Maravai LifeSciences Holdings had US$522.5m of debt, at June 2024, which is about the same as the year before. You can click the chart for greater detail. However, its balance sheet shows it holds US$579.7m in cash, so it actually has US$57.2m net cash.
正如您在下面所看到的,Maravai LifeSciences Holdings在2024年6月有US$52250万的债务,与前一年大致相同。您可以点击图表以获取更详细的信息。然而,其资产负债表显示它持有US$57970万现金,因此实际上有US$5720万的净现金。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240817/0-7a995a0d593724555475fdd2d7778772-0-b8b06ab397a17721dc9947e6379be4b5.png/big)
A Look At Maravai LifeSciences Holdings' Liabilities
查看Maravai LifeSciences Holdings的负债
According to the last reported balance sheet, Maravai LifeSciences Holdings had liabilities of US$68.6m due within 12 months, and liabilities of US$602.6m due beyond 12 months. Offsetting this, it had US$579.7m in cash and US$39.3m in receivables that were due within 12 months. So its liabilities total US$52.2m more than the combination of its cash and short-term receivables.
根据最后报告的资产负债表,Maravai LifeSciences Holdings有US$6860万的负债在12个月内到期,US$60260万的负债在12个月后到期。与此相抵消,它拥有US$57970万的现金和US$3930万的应收账款,这些应收账款在12个月内到期。因此,其负债总额超过现金和短期应收账款的组合多5220万美元。
Of course, Maravai LifeSciences Holdings has a market capitalization of US$2.01b, so these liabilities are probably manageable. However, we do think it is worth keeping an eye on its balance sheet strength, as it may change over time. Despite its noteworthy liabilities, Maravai LifeSciences Holdings boasts net cash, so it's fair to say it does not have a heavy debt load! When analysing debt levels, the balance sheet is the obvious place to start. But it is future earnings, more than anything, that will determine Maravai LifeSciences Holdings'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.
当然,Maravai LifeSciences Holdings的市值为2.01亿美元,因此这些负债可能是可管理的。但是,我们认为值得关注其资产负债表的强度,因为它随时间可能会发生变化。尽管其负债状况引人注目,但Maravai LifeSciences Holdings拥有净现金,因此可以说其没有沉重的债务负载!当分析债务水平时,资产负债表是一个明显的起点。但最终,未来的收益,而不是任何其他因素,将决定Maravai LifeSciences Holdings保持健康资产负债表的能力。因此,如果您专注于未来,可以查看这份免费的分析师利润预测报告。
In the last year Maravai LifeSciences Holdings had a loss before interest and tax, and actually shrunk its revenue by 49%, to US$279m. That makes us nervous, to say the least.
在过去的一年中,Maravai LifeSciences Holdings在利息和税前亏损,并将其收入缩减了4.9亿美元。这至少使我们感到紧张。
So How Risky Is Maravai LifeSciences Holdings?
Maravai LifeSciences Holdings有多大风险?
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 Maravai LifeSciences Holdings lost money at the earnings before interest and tax (EBIT) line. And over the same period it saw negative free cash outflow of US$17m and booked a US$132m accounting loss. Given it only has net cash of US$57.2m, the company may need to raise more capital if it doesn't reach break-even soon. Summing up, we're a little skeptical of this one, as it seems fairly risky in the absence of free cashflow. 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. These risks can be hard to spot. Every company has them, and we've spotted 1 warning sign for Maravai LifeSciences Holdings 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有风险。事实上,在过去的十二个月中,Maravai LifeSciences Holdings在利息和税前亏损了。在同一时期,它的负自由现金流达到了1700万美元,并进行了1.32亿美元的会计损失。由于其只有5720万美元的净现金,这家公司如果不能很快实现扭亏为盈,可能需要筹集更多资本。总之,在没有自由现金流的情况下,我们对这个公司有点持怀疑态度。毫无疑问,我们从资产负债表中了解债务的大部分内容。但是,最终,每家公司都可能存在纵身跳出资产负债表以外的风险。这些风险可能很难被发现。每家公司都有自己的风险,我们还在1个警告信号中发现了Maravai LifeSciences Holdings。您应该知道。
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,专注于没有净债务的公司往往更好。您可以访问我们的特别列表,其中包括所有表现出盈利增长轨迹的公司。这是免费的。
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