Is Centessa Pharmaceuticals (NASDAQ:CNTA) Weighed On By Its Debt Load?
Is Centessa Pharmaceuticals (NASDAQ:CNTA) Weighed On By Its Debt Load?
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.' 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 can see that Centessa Pharmaceuticals plc (NASDAQ:CNTA) does use debt in its business. But should shareholders be worried about its use of debt?
當大衛·伊本說「波動性不是我們關心的風險。我們關心的是避免永久性資本損失。」時,他說得很好。當我們考慮一個公司有多大的風險時,我們總是喜歡看它的債務使用情況,因爲債務過載會導致破產。我們可以看到納斯達克:Centessa Pharmaceuticals plc (NASDAQ:CNTA)在業務中使用了債務。但股東是否應該擔心它的債務使用?
Why Does Debt Bring Risk?
爲什麼債務會帶來風險?
Generally speaking, debt only becomes a real problem when a company can't easily pay it off, either by raising capital or with its own cash flow. If things get really bad, the lenders can take control of the business. However, a more common (but still painful) scenario is that it has to raise new equity capital at a low price, thus permanently diluting shareholders. Of course, plenty of companies use debt to fund growth, without any negative consequences. When we think about a company's use of debt, we first look at cash and debt together.
一般來說,只有當公司不能輕鬆地支付債務,無論是通過籌集資本還是利用自己的現金流,債務才會成爲真正的問題。如果情況變得非常糟糕,貸款人可以控制企業。然而,一種更常見(但仍然痛苦的)情況是,它必須以低價籌集新的股權資本,從而永久性地稀釋股東。當然,很多公司使用債務來融資增長,沒有任何負面影響。當我們考慮公司使用債務的情況時,我們首先看現金和債務的綜合狀況。
What Is Centessa Pharmaceuticals's Debt?
Centessa Pharmaceuticals的債務狀況是怎樣的?
The image below, which you can click on for greater detail, shows that at June 2024 Centessa Pharmaceuticals had debt of US$76.5m, up from US$73.3m in one year. But it also has US$294.8m in cash to offset that, meaning it has US$218.3m net cash.
下面的圖像,您可以點擊查看更多詳情,顯示在2024年6月Centessa Pharmaceuticals有7650萬美元的債務,比一年前的7330萬美元增加了。但它也擁有29480萬美元的現金來抵消,這意味着它擁有21830萬美元的淨現金。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240815/0-f3ad1cc8cf91bd8f5fe3adbca7e78ca5-0-9cdedb0676f16eec76be452ef5990d6a.png/big)
How Strong Is Centessa Pharmaceuticals' Balance Sheet?
Centessa Pharmaceuticals的資產負債表有多強?
We can see from the most recent balance sheet that Centessa Pharmaceuticals had liabilities of US$26.8m falling due within a year, and liabilities of US$85.1m due beyond that. Offsetting these obligations, it had cash of US$294.8m as well as receivables valued at US$41.9m due within 12 months. So it can boast US$224.9m more liquid assets than total liabilities.
我們可以從最近的資產負債表看到,Centessa Pharmaceuticals有2680萬美元的負債在一年內到期,8510萬美元的負債超過一年到期。抵銷這些義務,它擁有29480萬美元的現金,以及價值4190萬美元的應收款,應於12個月內到期。因此,它可以誇口有超過22490萬美元的流動資產超過總負債。
This surplus suggests that Centessa Pharmaceuticals is using debt in a way that is appears to be both safe and conservative. Due to its strong net asset position, it is not likely to face issues with its lenders. Succinctly put, Centessa Pharmaceuticals boasts net cash, so it's fair to say it does not have a heavy debt load! There's no doubt that we learn most about debt from the balance sheet. But it is future earnings, more than anything, that will determine Centessa Pharmaceuticals'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.
這份盈餘表明,Centessa Pharmaceuticals使用債務的方式似乎既安全又保守。由於其強勁的淨資產位置,它不太可能面臨與其貸方的問題。簡言之,Centessa Pharmaceuticals擁有淨現金,因此可以說它沒有沉重的債務負擔!毫無疑問,我們從資產負債表上了解債務最多。但是,未來的收益,勝過任何事情,將決定Centessa Pharmaceuticals維持健康資產負債表的能力。因此,如果您關注未來,可以查看這份免費報告,顯示分析師的利潤預測。
While it hasn't made a profit, at least Centessa Pharmaceuticals booked its first revenue as a publicly listed company, in the last twelve months.
雖然它沒有盈利,但至少Centessa Pharmaceuticals在過去12個月公開上市公司的第一筆營業收入。
So How Risky Is Centessa Pharmaceuticals?
Centessa Pharmaceuticals有多冒險?
We have no doubt that loss making companies are, in general, riskier than profitable ones. And we do note that Centessa Pharmaceuticals 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$146m and booked a US$157m accounting loss. However, it has net cash of US$218.3m, so it has a bit of time before it will need more capital. Even though its balance sheet seems sufficiently liquid, debt always makes us a little nervous if a company doesn't produce free cash flow regularly. When analysing debt levels, the balance sheet is the obvious place to start. However, not all investment risk resides within the balance sheet - far from it. These risks can be hard to spot. Every company has them, and we've spotted 2 warning signs for Centessa Pharmaceuticals you should know about.
我們毫不懷疑,虧損的公司總體上比盈利的公司更具風險。我們確實注意到Centessa Pharmaceuticals在過去一年中EBIT虧損。在同期內,它見負自由現金流流出14600萬美元,錄得15700萬美元的會計損失。但它有21830萬美元的淨現金,因此還有一些時間需要更多資本。即使它的資產負債表似乎足夠流動,如果一家公司不能定期產生自由現金流,債務總是會讓我們有點緊張。當分析債務水平時,資產負債表是一個顯而易見的起點。然而,並非所有的投資風險都存在於資產負債表內 - 遠非如此。這些風險可能很難發現,每個公司都有這些風險,我們已經發現了2個Centessa Pharmaceuticals的警告信號,您應該知道這些風險。
When all is said and done, sometimes its easier to focus on companies that don't even need debt. Readers can access a list of growth stocks with zero net debt 100% free, right now.
說到底,有時候更容易集中精力關注根本不需要債務的公司。讀者可以免費訪問零淨債務增長股票列表。
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