share_log

Rock Star Growth Puts Castle Biosciences (NASDAQ:CSTL) In A Position To Use Debt

Rock Star Growth Puts Castle Biosciences (NASDAQ:CSTL) In A Position To Use Debt

搖滾明星的增長使Castle Biosciences(納斯達克:CSTL)能夠使用債務
Simply Wall St ·  01/06 22:10

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says 'The biggest investment risk is not the volatility of prices, but whether you will suffer a 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 note that Castle Biosciences, Inc. (NASDAQ:CSTL) does have debt on its balance sheet. But is this debt a concern to shareholders?

獲得伯克希爾哈撒韋的查理·芒格支持的外部基金經理李露直言不諱地表示:『最大的投資風險不是價格的波動,而是你是否會遭受永久性資本損失。』當我們考慮一家公司有多風險時,總是喜歡查看其債務的使用,因爲債務負擔過重可能導致毀滅。我們注意到Castle Biosciences, Inc.(納斯達克:CSTL)確實在其資產負債表上有債務。但這對股東來說是個問題嗎?

When Is Debt A Problem?

何時債務成爲問題?

Debt assists a business until the business has trouble paying it off, either with new capital or with free cash flow. Part and parcel of capitalism is the process of 'creative destruction' where failed businesses are mercilessly liquidated by their bankers. 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. The first step when considering a company's debt levels is to consider its cash and debt together.

債務幫助企業,直到企業在償還債務時遇到麻煩,無論是通過新的資本還是自有現金流。資本主義的一部分過程是『創造性破壞』,失敗的企業被它們的銀行家無情清算。雖然這種情況並不常見,但我們常常看到有債務的公司因借款人逼迫它們以困境價格融資而永久稀釋股東權益。當然,債務對企業而言可能是一個重要工具,尤其是在資本密集型的企業中。考慮一家公司債務水平的第一步是將其現金和債務一起考慮。

What Is Castle Biosciences's Net Debt?

Castle Biosciences的淨債務是多少?

You can click the graphic below for the historical numbers, but it shows that as of September 2024 Castle Biosciences had US$10.0m of debt, an increase on none, over one year. But on the other hand it also has US$279.8m in cash, leading to a US$269.8m net cash position.

您可以點擊下面的圖形查看歷史數據,但它顯示截至2024年9月,Castle Biosciences的債務爲1000萬美元,與一年前持平。但另一方面,它還有27980萬美元的現金,導致其淨現金頭寸爲26980萬美元。

big
NasdaqGM:CSTL Debt to Equity History January 6th 2025
納斯達克GM:CSTL債務與權益歷史 2025年1月6日

A Look At Castle Biosciences' Liabilities

城堡生物科學的負債分析

The latest balance sheet data shows that Castle Biosciences had liabilities of US$44.3m due within a year, and liabilities of US$29.2m falling due after that. Offsetting these obligations, it had cash of US$279.8m as well as receivables valued at US$50.3m due within 12 months. So it actually has US$256.5m more liquid assets than total liabilities.

最新的資產負債表數據顯示,城堡生物科學在一年內的負債爲4430萬美元,且在此之後的負債爲2920萬美元。 在抵消這些義務時,它擁有27980萬美元的現金以及在12個月內到期的應收款5030萬美元。因此,它實際上擁有的流動資產比總負債多出25650萬美元。

This surplus liquidity suggests that Castle Biosciences' 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 Castle Biosciences has more cash than debt is arguably a good indication that it can manage its debt safely. 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 Castle Biosciences 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.

這種流動性過剩表明,城堡生物科學的資產負債表可能會遭受打擊,就像霍默·辛普森的頭可以承受重擊一樣。從這個角度來看,貸方應該感到和黑帶空手道大師的愛人一樣安全。 簡而言之,城堡生物科學擁有的現金多於債務,顯然是它能夠安全管理債務的良好指標。毫無疑問,我們從資產負債表中學到關於債務的大多數知識。但最終,業務的未來盈利能力將決定城堡生物科學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看法,你可能會發現這份關於分析師利潤預測的免費報告很有意思。

Over 12 months, Castle Biosciences reported revenue of US$312m, which is a gain of 62%, although it did not report any earnings before interest and tax. With any luck the company will be able to grow its way to profitability.

在12個月內,城堡生物科學報告的營業收入爲31200萬美元,同比增長62%,儘管它沒有報告任何利息和稅前利潤。如果幸運的話,該公司將能夠通過增長實現盈利。

So How Risky Is Castle Biosciences?

那麼城堡生物科學有多危險?

While Castle Biosciences lost money on an earnings before interest and tax (EBIT) level, it actually booked a paper profit of US$6.1m. So when you consider it has net cash, along with the statutory profit, the stock probably isn't as risky as it might seem, at least in the short term. We think its revenue growth of 62% is a good sign. There's no doubt fast top line growth can cure all manner of ills, for a stock. 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. Case in point: We've spotted 2 warning signs for Castle Biosciences you should be aware of, and 1 of them can't be ignored.

雖然城堡生物科學在利息和稅前利潤(EBIT)等級上虧損,但實際上它獲得了610萬美元的紙面利潤。因此,當你考慮到它擁有淨現金以及法定利潤時,這隻股票可能並沒有看起來那麼危險,至少在短期內是如此。我們認爲62%的營業收入增長是一個好兆頭。毫無疑問,快速的銷售增長可以治癒股票的各種問題。當分析債務水平時,資產負債表是顯而易見的起點。然而,並非所有的投資風險都存在於資產負債表中,遠非如此。舉個例子:我們發現城堡生物科學有2個你應該注意的警告信號,其中1個無法忽視。

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,如果你是那種喜歡購買沒有債務負擔的股票的投資者,那麼不要猶豫,今天就來發現我們獨家的淨現金成長股票列表。

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.

對本文有反饋?對內容有疑慮?請直接與我們聯繫。或者,發送電子郵件至 editorial-team (at) simplywallst.com。
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。

声明:本內容僅用作提供資訊及教育之目的,不構成對任何特定投資或投資策略的推薦或認可。 更多信息
    搶先評論