We Think Jamf Holding (NASDAQ:JAMF) Has A Fair Chunk Of Debt
We Think Jamf Holding (NASDAQ:JAMF) Has A Fair Chunk Of Debt
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of permanent loss is the risk I worry about... and every practical investor I know worries about.' 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. We note that Jamf Holding Corp. (NASDAQ:JAMF) does have debt on its balance sheet. But is this debt a concern to shareholders?
霍華德·馬克斯說得好,他說的不是擔心股價的波動,而是 “永久損失的可能性是我擔心的風險... 也是我認識的每位實際投資者所擔心的風險。”因此,當你評估公司的風險時,看來聰明的貨幣知道債務(通常涉及破產)是一個非常重要的因素。我們注意到,Jamf Holding Corp.(納斯達克股票代碼:JAMF)的資產負債表上確實有債務。但是這筆債務是股東關心的問題嗎?
When Is Debt Dangerous?
債務何時危險?
Debt is a tool to help businesses grow, but if a business is incapable of paying off its lenders, then it exists at their mercy. In the worst case scenario, a company can go bankrupt if it cannot pay its creditors. 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. Of course, debt can be an important tool in businesses, particularly capital heavy businesses. When we examine debt levels, we first consider both cash and debt levels, together.
債務是幫助企業發展的工具,但是如果企業無法還清貸款人,那麼債務就任由他們擺佈。在最壞的情況下,如果公司無法向債權人付款,它可能會破產。但是,更常見(但仍然昂貴)的情況是,公司爲了控制債務,必須以低廉的股價稀釋股東。當然,債務可以成爲企業的重要工具,尤其是資本密集型企業。當我們研究債務水平時,我們首先將現金和債務水平放在一起考慮。
What Is Jamf Holding's Net Debt?
Jamf Holding 的淨負債是多少?
The chart below, which you can click on for greater detail, shows that Jamf Holding had US$366.4m in debt in September 2023; about the same as the year before. However, it also had US$227.6m in cash, and so its net debt is US$138.8m.
您可以點擊下圖查看更多詳情,該圖表顯示,2023年9月,Jamf Holding的債務爲3.664億美元;與前一年大致相同。但是,它也有2.276億美元的現金,因此其淨負債爲1.388億美元。
![debt-equity-history-analysis](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240210/0-db4ef80f93661c7f4d5ba3826d9a129f-0-ef7bfec96d2f819ec9c6c2202c19ca15.png/big)
A Look At Jamf Holding's Liabilities
看看 Jamf Holding 的負債
The latest balance sheet data shows that Jamf Holding had liabilities of US$401.3m due within a year, and liabilities of US$451.3m falling due after that. Offsetting these obligations, it had cash of US$227.6m as well as receivables valued at US$92.4m due within 12 months. So its liabilities outweigh the sum of its cash and (near-term) receivables by US$532.6m.
最新的資產負債表數據顯示,Jamf Holding的負債爲4.013億美元,此後到期的負債爲4.513億美元。除這些債務外,它有2.276億美元的現金以及價值9,240萬美元的應收賬款將在12個月內到期。因此,其負債超過其現金和(短期)應收賬款總額5.326億美元。
While this might seem like a lot, it is not so bad since Jamf Holding has a market capitalization of US$2.40b, and so it could probably strengthen its balance sheet by raising capital if it needed to. But we definitely want to keep our eyes open to indications that its debt is bringing too much risk. 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 Jamf Holding can strengthen its balance sheet over time. So if you're focused on the future you can check out this free report showing analyst profit forecasts.
儘管這可能看起來很多,但還不錯,因爲Jamf Holding的市值爲24.0億美元,因此如果需要,它可能會通過籌集資金來加強其資產負債表。但是,我們絕對希望留意其債務帶來過大風險的跡象。毫無疑問,我們從資產負債表中學到的關於債務的知識最多。但最終,該業務的未來盈利能力將決定Jamf Holding能否隨着時間的推移加強其資產負債表。因此,如果您專注於未來,可以查看這份顯示分析師利潤預測的免費報告。
In the last year Jamf Holding wasn't profitable at an EBIT level, but managed to grow its revenue by 19%, to US$540m. That rate of growth is a bit slow for our taste, but it takes all types to make a world.
去年,Jamf Holding在息稅前利潤水平上沒有盈利,但成功將其收入增長了19%,達到5.4億美元。這種增長速度對我們的口味來說有點慢,但要創造一個世界需要所有類型。
Caveat Emptor
Caveat Emptor
Over the last twelve months Jamf Holding produced an earnings before interest and tax (EBIT) loss. To be specific the EBIT loss came in at US$114m. When we look at that and recall the liabilities on its balance sheet, relative to cash, it seems unwise to us for the company to have any debt. Quite frankly we think the balance sheet is far from match-fit, although it could be improved with time. For example, we would not want to see a repeat of last year's loss of US$114m. So to be blunt we do think it is risky. The balance sheet is clearly the area to focus on when you are analysing debt. But ultimately, every company can contain risks that exist outside of the balance sheet. We've identified 2 warning signs with Jamf Holding , and understanding them should be part of your investment process.
在過去的十二個月中,Jamf Holding出現了息稅前收益(EBIT)虧損。具體而言,息稅前利潤虧損爲1.14億美元。當我們審視這一點並回顧其資產負債表上相對於現金的負債時,對我們來說,公司有任何債務似乎是不明智的。坦率地說,我們認爲資產負債表遠非匹配,儘管可以隨着時間的推移而改善。例如,我們不希望看到去年1.14億美元的虧損重演。因此,坦率地說,我們確實認爲這是有風險的。資產負債表顯然是分析債務時需要關注的領域。但歸根結底,每家公司都可以控制資產負債表之外存在的風險。我們已經向Jamf Holding確定了兩個警告信號,了解它們應該成爲您投資過程的一部分。
If you're interested in investing in businesses that can grow profits without the burden of debt, then check out this free list of growing businesses that have net cash on the balance sheet.
如果你有興趣投資能夠在沒有債務負擔的情況下增加利潤的企業,請查看這份資產負債表上有淨現金的成長型企業的免費清單。
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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.
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Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。