These 4 Measures Indicate That Ingersoll Rand (NYSE:IR) Is Using Debt Safely
These 4 Measures Indicate That Ingersoll Rand (NYSE:IR) Is Using Debt Safely
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' 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 note that Ingersoll Rand Inc. (NYSE:IR) does have debt on its balance sheet. But should shareholders be worried about its use of debt?
禾倫·巴菲特曾說過一句名言:「波動性遠非風險的代名詞。」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。我們注意到,英格索蘭公司(紐約證券交易所代碼:IR)的資產負債表上確實有債務。但是,股東是否應該擔心其債務的使用?
What Risk Does Debt Bring?
債務會帶來什麼風險?
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. 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. 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 think about a company's use of debt, we first look at cash and debt together.
債務是幫助企業增長的工具,但是如果企業無法還清貸款人的債務,那麼債務就任其擺佈。最終,如果公司無法履行償還債務的法律義務,股東們可能會一無所獲。儘管這種情況並不常見,但我們經常會看到負債公司永久稀釋股東,因爲貸款人迫使他們以不良价格籌集資金。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。當我們考慮公司使用債務時,我們首先將現金和債務放在一起考慮。
How Much Debt Does Ingersoll Rand Carry?
英格索蘭揹負了多少債務?
The image below, which you can click on for greater detail, shows that at June 2024 Ingersoll Rand had debt of US$4.74b, up from US$2.76b in one year. However, it also had US$1.07b in cash, and so its net debt is US$3.67b.
您可以點擊下圖查看更多詳情,該圖片顯示,截至2024年6月,英格索蘭的債務爲47.4億美元,高於一年的27.6億美元。但是,它也有10.7億美元的現金,因此其淨負債爲36.7億美元。
![1725044586987](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240831/43140217-0-fb619c30c0ca654cc54bc575195a4128.webp/bigjpg)
A Look At Ingersoll Rand's Liabilities
看看英格索蘭的負債
The latest balance sheet data shows that Ingersoll Rand had liabilities of US$1.76b due within a year, and liabilities of US$6.05b falling due after that. On the other hand, it had cash of US$1.07b and US$1.43b worth of receivables due within a year. So it has liabilities totalling US$5.32b more than its cash and near-term receivables, combined.
最新的資產負債表數據顯示,英格索蘭的負債爲17.6億美元,之後到期的負債爲60.5億美元。另一方面,它有10.7億美元的現金和價值14.3億美元的應收賬款將在一年內到期。因此,它的負債總額比其現金和短期應收賬款的總和多出53.2億美元。
Of course, Ingersoll Rand has a titanic market capitalization of US$36.1b, so these liabilities are probably manageable. However, we do think it is worth keeping an eye on its balance sheet strength, as it may change over time.
當然,英格索蘭的市值高達361億美元,因此這些負債可能是可以控制的。但是,我們確實認爲值得關注其資產負債表的實力,因爲它可能會隨着時間的推移而發生變化。
We use two main ratios to inform us about debt levels relative to earnings. The first is net debt divided by earnings before interest, tax, depreciation, and amortization (EBITDA), while the second is how many times its earnings before interest and tax (EBIT) covers its interest expense (or its interest cover, for short). Thus we consider debt relative to earnings both with and without depreciation and amortization expenses.
我們使用兩個主要比率來告知我們相對於收益的債務水平。第一個是淨負債除以利息、稅項、折舊和攤銷前的收益(EBITDA),第二個是其利息和稅前收益(EBIT)覆蓋其利息支出(或簡稱利息保障)的多少倍。因此,我們將債務與收益的關係考慮在內,包括和不包括折舊和攤銷費用。
With a debt to EBITDA ratio of 2.0, Ingersoll Rand uses debt artfully but responsibly. And the fact that its trailing twelve months of EBIT was 9.2 times its interest expenses harmonizes with that theme. Also relevant is that Ingersoll Rand has grown its EBIT by a very respectable 30% in the last year, thus enhancing its ability to pay down debt. 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 Ingersoll Rand can strengthen its balance sheet over time. So if you want to see what the professionals think, you might find this free report on analyst profit forecasts to be interesting.
英格索蘭的債務與息稅折舊攤銷前利潤的比率爲2.0,巧妙但負責任地使用債務。而且,其過去十二個月的息稅前利潤是其利息支出的9.2倍,這一事實與這一主題一致。同樣重要的是,英格索蘭去年其息稅前利潤增長了非常可觀的30%,從而增強了其償還債務的能力。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英格索蘭能否隨着時間的推移加強其資產負債表。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。
Finally, a business needs free cash flow to pay off debt; accounting profits just don't cut it. So it's worth checking how much of that EBIT is backed by free cash flow. During the last three years, Ingersoll Rand generated free cash flow amounting to a very robust 87% of its EBIT, more than we'd expect. That puts it in a very strong position to pay down debt.
最後,企業需要自由現金流來償還債務;會計利潤根本無法減少債務。因此,值得檢查一下該息稅前利潤中有多少是由自由現金流支持的。在過去三年中,英格索蘭創造的自由現金流相當於其息稅前利潤的87%,超出了我們的預期。這使其在償還債務方面處於非常有利的地位。
Our View
我們的觀點
Ingersoll Rand's conversion of EBIT to free cash flow suggests it can handle its debt as easily as Cristiano Ronaldo could score a goal against an under 14's goalkeeper. And the good news does not stop there, as its EBIT growth rate also supports that impression! Looking at the bigger picture, we think Ingersoll Rand's use of debt seems quite reasonable and we're not concerned about it. After all, sensible leverage can boost returns on equity. Another factor that would give us confidence in Ingersoll Rand would be if insiders have been buying shares: if you're conscious of that signal too, you can find out instantly by clicking this link.
英格索蘭將息稅前利潤轉換爲自由現金流,這表明它可以像克里斯蒂亞諾·羅納爾多在對陣14歲以下的守門員的比賽中進球一樣輕鬆地處理債務。好消息不止於此,因爲其息稅前利潤增長率也支持這種印象!從大局來看,我們認爲英格索蘭使用債務似乎相當合理,我們對此並不擔心。畢竟,合理的槓桿可以提高股本回報率。讓我們對英格索蘭充滿信心的另一個因素是內部人士是否一直在買入股票:如果你也意識到這個信號,你可以通過點擊這個鏈接立即找到答案。
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。