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We're Keeping An Eye On ITeos Therapeutics' (NASDAQ:ITOS) Cash Burn Rate

We're Keeping An Eye On ITeos Therapeutics' (NASDAQ:ITOS) Cash Burn Rate

我們正在關注iteos therapeutics(納斯達克:itos)的現金燃燒速度
Simply Wall St ·  09/18 09:01

There's no doubt that money can be made by owning shares of unprofitable businesses. For example, although software-as-a-service business Salesforce.com lost money for years while it grew recurring revenue, if you held shares since 2005, you'd have done very well indeed. But the harsh reality is that very many loss making companies burn through all their cash and go bankrupt.

毫無疑問,擁有盈利能力差的公司的股票是可以賺錢的。舉個例子,儘管軟件服務業務賽富時在增長持續收入的同時多年都虧損,但如果你從2005年開始持有股票,你會收益頗豐。但嚴酷的現實是,很多虧損的公司會在耗盡所有現金後破產。

Given this risk, we thought we'd take a look at whether iTeos Therapeutics (NASDAQ:ITOS) shareholders should be worried about its cash burn. In this report, we will consider the company's annual negative free cash flow, henceforth referring to it as the 'cash burn'. We'll start by comparing its cash burn with its cash reserves in order to calculate its cash runway.

鑑於這種風險,我們想對iteos therapeutics(納斯達克:ITOS)股東是否應該擔心其現金流耗盡情況進行分析。在本報告中,我們將考慮公司的年度自由現金流爲負值,以後簡稱爲「現金流耗盡」。我們將首先比較其現金流耗盡和現金儲備,以計算其現金銜接時間。

Does iTeos Therapeutics Have A Long Cash Runway?

iteos therapeutics有長期現金銜接時間嗎?

A company's cash runway is the amount of time it would take to burn through its cash reserves at its current cash burn rate. When iTeos Therapeutics last reported its June 2024 balance sheet in August 2024, it had zero debt and cash worth US$571m. Looking at the last year, the company burnt through US$118m. So it had a cash runway of about 4.9 years from June 2024. There's no doubt that this is a reassuringly long runway. The image below shows how its cash balance has been changing over the last few years.

公司的現金銜接時間是指以當前現金流耗盡速率耗盡儲備資金所需的時間。當iteos therapeutics於2024年6月在2024年8月報告其資產負債表時,其無債務,現金價值爲5700萬美元。回顧過去一年,該公司的現金流耗盡1180萬美元。因此,它從2024年6月起有大約4.9年的現金銜接時間。毫無疑問,這是一個令人放心的長期銜接時間。下圖顯示了過去幾年其現金餘額的變化情況。

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NasdaqGM:ITOS Debt to Equity History September 18th 2024
納斯達克:ITOS負債與權益歷史數據2024年9月18日

How Well Is iTeos Therapeutics Growing?

iteos therapeutics的發展如何?

At first glance it's a bit worrying to see that iTeos Therapeutics actually boosted its cash burn by 3.1%, year on year. The fact that operating revenue was down 59% only gives us further disquiet. Taken together, we think these growth metrics are a little worrying. While the past is always worth studying, it is the future that matters most of all. So you might want to take a peek at how much the company is expected to grow in the next few years.

乍一看,iteos therapeutics的現金流耗盡實際上增加了3.1%,同比增長。營業收入下降59%的事實使我們更擔心。綜合考慮,我們認爲這些增長指標有些令人擔憂。雖然過去總是值得研究的,但最重要的是未來。因此,您可能想要了解公司在未來幾年裏預計增長多少。

How Hard Would It Be For iTeos Therapeutics To Raise More Cash For Growth?

iTeos Therapeutics要爲增長籌集更多現金有多難?

iTeos Therapeutics seems to be in a fairly good position, in terms of cash burn, but we still think it's worthwhile considering how easily it could raise more money if it wanted to. Companies can raise capital through either debt or equity. Commonly, a business will sell new shares in itself to raise cash and drive growth. We can compare a company's cash burn to its market capitalisation to get a sense for how many new shares a company would have to issue to fund one year's operations.

iTeos Therapeutics似乎處於一個相當不錯的位置,就現金燃燒而言,但我們仍然認爲值得考慮,如果它想要輕鬆籌集更多資金的話。公司可以通過債務或者權益籌集資本。一般來說,一家企業會出售自身的新股份來籌集資金並推動增長。我們可以比較一家公司的現金燃燒與其市值,以了解一家公司需要發行多少新股來爲一年的運營籌集資金。

iTeos Therapeutics' cash burn of US$118m is about 27% of its US$442m market capitalisation. That's not insignificant, and if the company had to sell enough shares to fund another year's growth at the current share price, you'd likely witness fairly costly dilution.

iTeos Therapeutics的現金燃燒爲1.18億美元,約爲其4.42億美元的市值的27%。這並不可忽視,如果公司不得不以當前股價出售足夠的股份來爲另一年的增長籌集資金,您很可能會見證相當昂貴的稀釋。

So, Should We Worry About iTeos Therapeutics' Cash Burn?

那麼,我們應該擔心iTeos Therapeutics的現金燃燒嗎?

On this analysis of iTeos Therapeutics' cash burn, we think its cash runway was reassuring, while its falling revenue has us a bit worried. We don't think its cash burn is particularly problematic, but after considering the range of factors in this article, we do think shareholders should be monitoring how it changes over time. Taking an in-depth view of risks, we've identified 2 warning signs for iTeos Therapeutics that you should be aware of before investing.

在對iTeos Therapeutics的現金燃燒進行分析時,我們認爲其現金儲備是令人放心的,而其營業收入的下降讓我們有些擔憂。我們並不認爲其現金燃燒特別成問題,但在考慮本文中的一系列因素後,我們認爲股東應該密切關注其隨時間的變化。通過深入了解風險,我們已經發現了iTeos Therapeutics兩個投資前應該注意的警示信號。

If you would prefer to check out another company with better fundamentals, then do not miss this free list of interesting companies, that have HIGH return on equity and low debt or this list of stocks which are all forecast to grow.

如果您希望查詢其他基本面更好的公司,則不要錯過具有高淨資產回報率和低債務的有趣公司免費列表,或者這個預計所有股票都會增長的股票列表。

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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。

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