Would MYT Netherlands Parent B.V (NYSE:MYTE) Be Better Off With Less Debt?
Would MYT Netherlands Parent B.V (NYSE:MYTE) Be Better Off With Less Debt?
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital.' 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 MYT Netherlands Parent B.V. (NYSE:MYTE) does use debt in its business. But the real question is whether this debt is making the company risky.
傳奇基金經理李魯(查理·芒格支持的)曾說過:'最大投資風險不是價格的波動,而是你是否會遭受永久資本損失。' 所以,當你考慮任何給定股票的風險時,考慮債務可能是顯而易見的,因爲過多的債務可能會使公司陷入困境。 我們可以看到MYt Netherlands Parent b.V.(紐交所:MYTE)確實在其業務中使用債務。 但真正的問題是,這些債務是否使公司變得危險。
When Is Debt Dangerous?
債務何時會變得危險?
Debt assists a business until the business has trouble paying it off, either with new capital or with free cash flow. 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. Of course, debt can be an important tool in businesses, particularly capital heavy businesses. When we think about a company's use of debt, we first look at cash and debt together.
債務可以幫助企業,直到企業在用新資本或自由現金流償還債務時遇到麻煩。 最終,如果公司無法履行法定義務償還債務,股東可能會一無所獲。 雖然這種情況並不常見,但我們經常看到負債公司由於貸款人迫使它們以被壓低的價格籌集資本而永久稀釋股東權益。 當然,債務可以成爲企業特別是資本密集型企業的重要工具。 當我們考慮公司的債務使用時,我們首先將現金和債務放在一起看。
What Is MYT Netherlands Parent B.V's Debt?
MYt Netherlands Parent b.V.的債務是什麼?
As you can see below, at the end of September 2024, MYT Netherlands Parent B.V had €25.3m of debt, up from €16.4m a year ago. Click the image for more detail. On the flip side, it has €9.11m in cash leading to net debt of about €16.2m.
如您所見,截至2024年9月底,MYt Netherlands Parent b.V.的債務爲€2530萬,比一年前的€1640萬有所增加。點擊圖片獲取更多細節。 另一方面,它有€911萬的現金,導致淨債務約爲€1620萬。
How Strong Is MYT Netherlands Parent B.V's Balance Sheet?
MYt Netherlands Parent b.V的資產負債表有多強?
The latest balance sheet data shows that MYT Netherlands Parent B.V had liabilities of €215.4m due within a year, and liabilities of €43.5m falling due after that. Offsetting this, it had €9.11m in cash and €11.2m in receivables that were due within 12 months. So its liabilities outweigh the sum of its cash and (near-term) receivables by €238.6m.
最新的資產負債表數據顯示,MYt Netherlands Parent b.V 有21540萬歐元的負債,需在一年內償還,還有4350萬歐元的負債將在其後到期。抵消這些負債,MYt Netherlands Parent b.V 現金爲911萬歐元,12個月內到期的應收賬款爲1120萬歐元。因此,它的負債超過其現金和(短期內)應收賬款的總和23860萬歐元。
MYT Netherlands Parent B.V has a market capitalization of €520.8m, so it could very likely raise cash to ameliorate its balance sheet, if the need arose. But it's clear that we should definitely closely examine whether it can manage its debt without dilution. 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 MYT Netherlands Parent B.V'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.
MYt Netherlands Parent b.V的市值爲52080萬歐元,因此如果需要,它很可能能夠籌集資金來改善其資產負債表。但很明顯,我們絕對應該仔細檢查它是否能夠在不稀釋的情況下管理其債務。毫無疑問,我們從資產負債表中了解債務最多。但實際上,未來的收益,將決定MYt Netherlands Parent b.V未來能否維持健康的資產負債表。因此,如果你關注未來,可以查看這份免費的報告,展示分析師的利潤預測。
Over 12 months, MYT Netherlands Parent B.V reported revenue of €855m, which is a gain of 10.0%, although it did not report any earnings before interest and tax. That rate of growth is a bit slow for our taste, but it takes all types to make a world.
在過去的12個月內,MYt Netherlands Parent b.V報告的營業收入爲85500萬歐元,增長了10.0%,儘管它並未報告稅息前利潤。在我們看來,這一增長速度有點慢,但世間百態,各種情況皆有。
Caveat Emptor
買者自負盈虧
Over the last twelve months MYT Netherlands Parent B.V produced an earnings before interest and tax (EBIT) loss. To be specific the EBIT loss came in at €6.8m. Considering that alongside the liabilities mentioned above does not give us much confidence that company should be using so much debt. Quite frankly we think the balance sheet is far from match-fit, although it could be improved with time. For example, we would not want to see a repeat of last year's loss of €36m. So we do think this stock is quite risky. 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 MYT Netherlands Parent B.V is showing 1 warning sign in our investment analysis , you should know about...
在過去的十二個月裏,MYt Netherlands Parent b.V出現了稅息前利潤(EBIT)虧損。具體來說,EBIT虧損爲680萬歐元。考慮到上述負債情況,這並未讓我們感到公司應使用如此多的債務有多大信心。坦率地說,我們認爲資產負債表遠未達到適合的狀態,儘管經過時間的推移可以改善。例如,我們不希望看到去年3600萬歐元的虧損再次上演。因此,我們確實認爲這隻股票相當有風險。分析債務水平時,資產負債表顯然是個起點。但最終,每家公司都可能存在資產負債表之外的風險。請注意,MYt Netherlands Parent b.V在我們的投資分析中顯示了1個警告信號,你應該知道……
If you're interested in investing in businesses that can grow profits without the burden of debt, then check out this free list of growing businesses that have net cash on the balance sheet.
如果你有興趣投資那些能夠在沒有債務負擔的情況下增長利潤的企業,那麼請查看這份免費的、擁有淨現金的成長型企業名單。
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這篇來自Simply Wall St的文章是一般性的。我們根據歷史數據和分析師預測提供評論,採用無偏見的方法,我們的文章並不旨在提供財務建議。它不構成對任何股票的買入或賣出建議,也未考慮到您的目標或財務狀況。我們旨在爲您提供以基本數據驅動的長期分析。請注意,我們的分析可能未考慮最新的價格敏感公司公告或定性材料。Simply Wall St在提到的任何股票中均沒有持倉。