Health Check: How Prudently Does Cetc Potevio Science&TechnologyLtd (SZSE:002544) Use Debt?
Health Check: How Prudently Does Cetc Potevio Science&TechnologyLtd (SZSE:002544) Use 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 might be obvious that you need to consider debt, when you think about how risky any given stock is, because too much debt can sink a company. We can see that Cetc Potevio Science&Technology Co.,Ltd. (SZSE:002544) does use debt in its business. But the more important question is: how much risk is that debt creating?
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,很明顯,當你考慮任何給定股票的風險時,你需要考慮債務,因爲過多的債務會使公司陷入困境。我們可以看到 Cetc Potevio Science&Technology Co., Ltd.(深圳證券交易所:002544)確實在其業務中使用債務。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 is a tool to help businesses grow, but if a business is incapable of paying off its lenders, then it exists at their mercy. Ultimately, if the company can't fulfill its legal obligations to repay debt, shareholders could walk away with nothing. 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. When we examine debt levels, we first consider both cash and debt levels, together.
債務是幫助企業增長的工具,但是如果企業無法償還貸款人的債務,那麼債務就會任由他們擺佈。歸根結底,如果公司無法履行其償還債務的法律義務,股東可能會一無所獲。但是,更常見(但仍然昂貴)的情況是,公司必須以低廉的股價稀釋股東才能控制債務。但是,通過取代稀釋,對於需要資本以高回報率投資增長的企業來說,債務可以成爲一個非常好的工具。當我們研究債務水平時,我們首先要同時考慮現金和債務水平。
What Is Cetc Potevio Science&TechnologyLtd's Net Debt?
Cetc Potevio Science&TechnologyLtd 的淨負債是多少?
The image below, which you can click on for greater detail, shows that Cetc Potevio Science&TechnologyLtd had debt of CN¥574.7m at the end of March 2024, a reduction from CN¥939.3m over a year. But it also has CN¥1.97b in cash to offset that, meaning it has CN¥1.40b net cash.
您可以點擊下圖查看更多詳情,該圖片顯示,截至2024年3月底,Cetc Potevio科學與技術有限公司的債務爲5.747億元人民幣,較一年9.393億元人民幣有所減少。但它也有19.7億元的現金來抵消這一點,這意味着它的淨現金爲14.0億元人民幣。
![debt-equity-history-analysis](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240523/0-09a550ddef694dc334f15f7515fd86df-0-9d0fe8d02b1a8e7f126b1ef618323c1b.png/big)
How Strong Is Cetc Potevio Science&TechnologyLtd's Balance Sheet?
Cetc Potevio Science&TechnologyLtd 的資產負債表有多強?
The latest balance sheet data shows that Cetc Potevio Science&TechnologyLtd had liabilities of CN¥6.03b due within a year, and liabilities of CN¥77.6m falling due after that. Offsetting this, it had CN¥1.97b in cash and CN¥5.04b in receivables that were due within 12 months. So it can boast CN¥905.6m more liquid assets than total liabilities.
最新的資產負債表數據顯示,Cetc Potevio Science&TechnologyLtd的負債爲60.3億元人民幣,此後到期的負債爲7,760萬元人民幣。與此相抵消的是,它有19.7億元的現金和50.4億元人民幣的應收賬款將在12個月內到期。因此,它擁有的流動資產可以多出9.056億元人民幣 總 負債。
This short term liquidity is a sign that Cetc Potevio Science&TechnologyLtd could probably pay off its debt with ease, as its balance sheet is far from stretched. Simply put, the fact that Cetc Potevio Science&TechnologyLtd 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 Cetc Potevio Science&TechnologyLtd's ability to maintain a healthy balance sheet going forward. So if you want to see what the professionals think, you might find this free report on analyst profit forecasts to be interesting.
這種短期流動性表明,由於資產負債表遠未緊張,Cetc Potevio Science&TechnologyLtd可能會輕鬆還清債務。簡而言之,Cetc Potevio Science&TechnologyLtd的現金多於債務,這一事實可以說是一個很好的跡象,表明它可以安全地管理債務。在分析債務水平時,資產負債表是顯而易見的起點。但是,未來的收益將決定Cetc Potevio Science&TechnologyLtd未來維持健康資產負債表的能力。因此,如果你想看看專業人士的想法,你可能會發現這份關於分析師利潤預測的免費報告很有趣。
Over 12 months, Cetc Potevio Science&TechnologyLtd made a loss at the EBIT level, and saw its revenue drop to CN¥5.3b, which is a fall of 25%. That makes us nervous, to say the least.
在過去的12個月中,Cetc Potevio科學與技術有限公司在息稅前利潤水平上出現虧損,收入下降至53億元人民幣,下降了25%。至少可以說,這讓我們感到緊張。
So How Risky Is Cetc Potevio Science&TechnologyLtd?
那麼 Cetc Potevio Science&TechnologyLtd 的風險有多大?
While Cetc Potevio Science&TechnologyLtd lost money on an earnings before interest and tax (EBIT) level, it actually booked a paper profit of CN¥30m. So when you consider it has net cash, along with the statutory profit, the stock probably isn't as risky as it might seem, at least in the short term. We'll feel more comfortable with the stock once EBIT is positive, given the lacklustre revenue growth. The balance sheet is clearly the area to focus on when you are analysing debt. However, not all investment risk resides within the balance sheet - far from it. To that end, you should be aware of the 3 warning signs we've spotted with Cetc Potevio Science&TechnologyLtd .
儘管Cetc Potevio Science&TechnologyLtd在息稅前收益(EBIT)水平上蒙受了損失,但其實際賬面利潤爲3000萬元人民幣。因此,當你考慮到它有淨現金和法定利潤時,該股票的風險可能沒有看起來那麼大,至少在短期內是如此。鑑於收入增長乏善可陳,一旦息稅前利潤爲正,我們將對該股感到更加滿意。資產負債表顯然是分析債務時需要關注的領域。但是,並非所有的投資風險都存在於資產負債表中,遠非如此。爲此,你應該注意我們在Cetc Potevio Science&TechnologyLtd身上發現的3個警告信號。
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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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。