Does Nuvation Bio (NYSE:NUVB) Have A Healthy Balance Sheet?
Does Nuvation Bio (NYSE:NUVB) Have A Healthy Balance Sheet?
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. Importantly, Nuvation Bio Inc. (NYSE:NUVB) does carry debt. But should shareholders be worried about its use of debt?
霍華德·馬克斯說得好,與其擔心股價波動,‘永久性損失的可能性是我擔心的風險... 我認識的每個實踐投資者都擔心這個。’因此,當你考慮任何給定股票的風險時,需要考慮債務,因爲過多的債務會使一家公司陷入困境。特別是,Nuvation Bio Inc. (NYSE:NUVB) 有債務。但股東們應該擔心它的債務使用嗎?
When Is Debt Dangerous?
債務何時有危險?
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. While that is not too common, we often do see indebted companies permanently diluting shareholders because lenders force them to raise capital at a distressed price. Having said that, the most common situation is where a company manages its debt reasonably well - and to its own advantage. When we examine debt levels, we first consider both cash and debt levels, together.
當企業無法通過自由現金流或以優惠價籌集資本來輕鬆履行債務時,債務和其他負債變得具有風險性。如果情況變得非常糟糕,放貸人可以接管公司。雖然這並不是太常見的情況,但我們經常看到負債累累的公司因爲放貸人強迫他們以低價籌集資本而永久稀釋股東利益。話雖如此,最常見的情況是一家公司合理掌控債務,真正發揮它的優勢。當我們檢查債務水平時,首先要考慮現金和債務的總和。
What Is Nuvation Bio's Debt?
什麼是Nuvation Bio的債務?
You can click the graphic below for the historical numbers, but it shows that as of June 2024 Nuvation Bio had US$11.6m of debt, an increase on none, over one year. But it also has US$577.2m in cash to offset that, meaning it has US$565.5m net cash.
你可以點擊下面的圖表查看歷史數字,但它顯示截至2024年6月,Nuvation Bio有1160萬美元的債務,比去年增加了none。 但它還有57720萬美元的現金來抵消這筆債務,這意味着它有56550萬美元的淨現金。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240807/0-217c3a382d07b363539cbface9890253-0-9cd1d2e678ef40d7c85c1f3293cbdb13.png/big)
How Strong Is Nuvation Bio's Balance Sheet?
Nuvation Bio的資產負債表有多強?
Zooming in on the latest balance sheet data, we can see that Nuvation Bio had liabilities of US$51.1m due within 12 months and liabilities of US$11.6m due beyond that. On the other hand, it had cash of US$577.2m and US$4.01m worth of receivables due within a year. So it can boast US$518.5m more liquid assets than total liabilities.
放大對最新的資產負債表數據,我們可以看到Nuvation Bio有5100萬美元的負債在12個月內到期,1160萬美元的負債超過這個期限。 另一方面,它有57720萬美元的現金和401萬美元的應收賬款在一年內到期。 因此,它可以比總負債多擁有51850萬美元的流動資產。
This surplus liquidity suggests that Nuvation Bio's balance sheet could take a hit just as well as Homer Simpson's head can take a punch. On this view, lenders should feel as safe as the beloved of a black-belt karate master. Simply put, the fact that Nuvation Bio 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 ultimately the future profitability of the business will decide if Nuvation Bio 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.
這種剩餘流動性表明Nuvation Bio的資產負債表可能像霍默·辛普森的頭部一樣承受打擊。 從這個角度來看,放貸者應該像黑帶空手道大師的愛人一樣感到安全。 簡而言之,Nuvation Bio擁有的現金數大於債務數,這可能是它能夠安全地管理債務的很好的指標。 在分析債務水平時,資產負債表是顯而易見的起點。 但最終,業務未來的盈利能力會決定Nuvation Bio是否能夠隨着時間推移加強其資產負債表。 因此,如果你關注未來,可以查看這個顯示分析師利潤預測的免費報告。
In the last year Nuvation Bio managed to produce its first revenue as a listed company, but given the lack of profit, shareholders will no doubt be hoping to see some strong increases.
在過去的一年中,Nuvation Bio設法作爲上市公司獲得了首次收入,但考慮到缺乏利潤,股東們無疑希望看到一些強勁增長。
So How Risky Is Nuvation Bio?
那麼,Nuvation Bio的風險有多大?
We have no doubt that loss making companies are, in general, riskier than profitable ones. And we do note that Nuvation Bio 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$84m and booked a US$511m accounting loss. While this does make the company a bit risky, it's important to remember it has net cash of US$565.5m. That means it could keep spending at its current rate for more than two years. Overall, its balance sheet doesn't seem overly risky, at the moment, but we're always cautious until we see the positive free cash flow. When analysing debt levels, the balance sheet is the obvious place to start. But ultimately, every company can contain risks that exist outside of the balance sheet. Be aware that Nuvation Bio is showing 3 warning signs in our investment analysis , you should know about...
我們毫不懷疑,虧損的公司通常比盈利的公司更具風險。 我們確實注意到,在過去的一年中,Nuvation Bio的利息和稅前利潤(EBIT)虧損。 同期,它出現了8400萬美元的負自由現金流和5100萬美元的會計虧損。 儘管這使公司有些冒險,但重要的是記住,它有56550萬美元的淨現金。 這意味着它可以以當前速度繼續支出兩年以上。 總體而言,在目前,它的資產負債表似乎並不過於冒險,但我們總是在看到正的自由現金流之前保持謹慎。 在分析債務水平時,資產負債表是顯而易見的起點。 但最終,每個公司都可能存在超出資產負債表的風險。 請注意,Nuvation Bio在我們的投資分析中顯示了3個警告信號,你應該知道...
If, after all that, you're more interested in a fast growing company with a rock-solid balance sheet, then check out our list of net cash growth stocks without delay.
如果在所有這些之後,您更感興趣的是具有堅實資產負債表的快速增長公司,那麼不要拖延,查看我們的淨現金增長股票列表。
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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.
對本文有任何反饋?對內容有任何疑慮?請直接與我們聯繫。或者,發送電子郵件至editorial-team@simplywallst.com。
這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論,只使用公正的方法論,我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議,也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意,我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
對本文有任何反饋?對內容有任何疑慮?請直接與我們聯繫。或者,發送電子郵件至editorial-team@simplywallst.com。