Is Everjoy Health Group (SZSE:002162) Using Too Much Debt?
Is Everjoy Health Group (SZSE:002162) Using Too Much Debt?
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.' 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 can see that Everjoy Health Group Co., Ltd. (SZSE:002162) does use debt in its business. But the more important question is: how much risk is that debt creating?
大衛·伊本說得好,他說:“波動性不是我們關心的風險。我們關心的是避免資本的永久損失。”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。我們可以看到,Everjoy Health Group 有限公司(深圳證券交易所:002162)確實在其業務中使用了債務。但更重要的問題是:這筆債務會帶來多大的風險?
When Is Debt Dangerous?
債務何時危險?
Debt and other liabilities become risky for a business when it cannot easily fulfill those obligations, either with free cash flow or by raising capital at an attractive price. If things get really bad, the lenders can take control of the business. However, a more frequent (but still costly) occurrence is where a company must issue shares at bargain-basement prices, permanently diluting shareholders, just to shore up its balance sheet. Having said that, the most common situation is where a company manages its debt reasonably well - and to its own advantage. The first thing to do when considering how much debt a business uses is to look at its cash and debt together.
當企業無法通過自由現金流或以誘人的價格籌集資金來輕鬆履行這些義務時,債務和其他負債就會變得有風險。如果情況變得非常糟糕,貸款人可以控制業務。但是,更頻繁(但仍然代價高昂)的情況是,公司必須以低廉的價格發行股票,永久稀釋股東,以支撐其資產負債表。話雖如此,最常見的情況是公司合理地很好地管理債務,而且有利於自己的利益。在考慮企業使用多少債務時,要做的第一件事就是綜合考慮其現金和債務。
What Is Everjoy Health Group's Net Debt?
Everjoy Health Group 的淨負債是多少?
As you can see below, Everjoy Health Group had CN¥523.6m of debt at September 2023, down from CN¥658.9m a year prior. However, it does have CN¥275.8m in cash offsetting this, leading to net debt of about CN¥247.8m.
如下所示,截至2023年9月,Everjoy Health Group的債務爲5.236億元人民幣,低於去年同期的6.589億元人民幣。但是,它確實有2.758億元的現金抵消了這一點,淨負債約爲2.478億元人民幣。
![debt-equity-history-analysis](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240302/0-4bf956c37cee6e3678f9e3f11449c76f-0-281b0a23c1f52c48c29d687bbbd08916.png/big)
How Strong Is Everjoy Health Group's Balance Sheet?
Everjoy Health Group 的資產負債表有多強?
Zooming in on the latest balance sheet data, we can see that Everjoy Health Group had liabilities of CN¥790.4m due within 12 months and liabilities of CN¥472.0m due beyond that. Offsetting this, it had CN¥275.8m in cash and CN¥340.4m in receivables that were due within 12 months. So its liabilities outweigh the sum of its cash and (near-term) receivables by CN¥646.1m.
放大最新的資產負債表數據,我們可以看到,Everjoy Health Group在12個月內到期的負債爲7.904億元人民幣,之後到期的負債爲4.72億元人民幣。與此相抵消的是,它有2.758億元的現金和3.404億元人民幣的應收賬款將在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6.461億元人民幣。
Since publicly traded Everjoy Health Group shares are worth a total of CN¥4.00b, it seems unlikely that this level of liabilities would be a major threat. But there are sufficient liabilities that we would certainly recommend shareholders continue to monitor the balance sheet, going forward. The balance sheet is clearly the area to focus on when you are analysing debt. But you can't view debt in total isolation; since Everjoy Health Group will need earnings to service that debt. So if you're keen to discover more about its earnings, it might be worth checking out this graph of its long term earnings trend.
由於公開交易的Everjoy Health Group股票總價值爲4.00億元人民幣,因此這種負債水平似乎不太可能構成重大威脅。但是,有足夠的負債,我們肯定會建議股東今後繼續監督資產負債表。資產負債表顯然是分析債務時需要關注的領域。但是你不能完全孤立地看待債務;因爲Everjoy Health Group需要收益來償還債務。因此,如果你想進一步了解其收益,可能值得看看這張長期收益趨勢圖。
In the last year Everjoy Health Group wasn't profitable at an EBIT level, but managed to grow its revenue by 3.5%, to CN¥1.3b. That rate of growth is a bit slow for our taste, but it takes all types to make a world.
去年,Everjoy Health Group在息稅前利潤水平上沒有盈利,但其收入增長了3.5%,達到13億元人民幣。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
Importantly, Everjoy Health Group had an earnings before interest and tax (EBIT) loss over the last year. Indeed, it lost CN¥161m at the EBIT level. Considering that alongside the liabilities mentioned above does not give us much confidence that company should be using so much debt. So we think its balance sheet is a little strained, though not beyond repair. We would feel better if it turned its trailing twelve month loss of CN¥84m into a profit. So we do think this stock is quite risky. 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. For example, we've discovered 1 warning sign for Everjoy Health Group that you should be aware of before investing here.
重要的是,Everjoy Health Group去年出現了息稅前收益(EBIT)虧損。事實上,它在息稅前利潤水平上損失了1.61億元人民幣。考慮到這一點,除了上述負債外,我們對公司應該使用如此多的債務沒有太大的信心。因此,我們認爲其資產負債表有些緊張,儘管並非無法修復。如果它將過去十二個月的8400萬元人民幣的虧損轉化爲利潤,我們會感覺更好。因此,我們確實認爲這隻股票風險很大。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。例如,我們發現了Everjoy Health Group的一個警告信號,在投資之前,您應該注意這一點。
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.
當然,如果你是那種喜歡在沒有債務負擔的情況下購買股票的投資者,那麼請立即查看我們的獨家淨現金增長股票清單。
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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。