Will Nkarta (NASDAQ:NKTX) Spend Its Cash Wisely?
Will Nkarta (NASDAQ:NKTX) Spend Its Cash Wisely?
Just because a business does not make any money, does not mean that the stock will go down. For example, although Amazon.com made losses for many years after listing, if you had bought and held the shares since 1999, you would have made a fortune. Having said that, unprofitable companies are risky because they could potentially burn through all their cash and become distressed.
仅仅因为企业没有赚钱,并不意味着股票会下跌。例如,尽管亚马逊在上市后连续多年亏损,但如果你自1999年以来买入并持有股票,你就会发大财。话虽如此,无利可图的公司是有风险的,因为它们可能会耗尽所有现金并陷入困境。
Given this risk, we thought we'd take a look at whether Nkarta (NASDAQ:NKTX) shareholders should be worried about its cash burn. In this article, we define cash burn as its annual (negative) free cash flow, which is the amount of money a company spends each year to fund its growth. Let's start with an examination of the business' cash, relative to its cash burn.
鉴于这种风险,我们想看看是否 恩卡塔 纳斯达克股票代码:NKTX)的股东应该担心其现金消耗。在本文中,我们将现金消耗定义为其年度(负)自由现金流,即公司每年为资助其增长而花费的金额。让我们首先检查一下企业的现金与其现金消耗的关系。
See our latest analysis for Nkarta
查看我们对 Nkarta 的最新分析
Does Nkarta Have A Long Cash Runway?
Nkarta 的现金跑道很长吗?
A company's cash runway is calculated by dividing its cash hoard by its cash burn. As at June 2023, Nkarta had cash of US$281m and no debt. Importantly, its cash burn was US$123m over the trailing twelve months. Therefore, from June 2023 it had 2.3 years of cash runway. Arguably, that's a prudent and sensible length of runway to have. Depicted below, you can see how its cash holdings have changed over time.
公司的现金储备是通过将其现金储备除以现金消耗来计算的。截至2023年6月,恩卡塔拥有2.81亿美元的现金,没有债务。重要的是,在过去的十二个月中,其现金消耗为1.23亿美元。因此,从2023年6月起,它有2.3年的现金跑道。可以说,这是一个谨慎而明智的跑道长度。如下所示,您可以看到其现金持有量随着时间的推移发生了怎样的变化。
![debt-equity-history-analysis](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231018/0-b839f1295e88b7eeac1f6c97f5012b91-0-7ec4ca7aed82ec1a6e456579164c0f17.png/big)
How Is Nkarta's Cash Burn Changing Over Time?
随着时间的推移,Nkarta 的现金消耗会如何变化?
Nkarta didn't record any revenue over the last year, indicating that it's an early stage company still developing its business. Nonetheless, we can still examine its cash burn trajectory as part of our assessment of its cash burn situation. During the last twelve months, its cash burn actually ramped up 58%. Oftentimes, increased cash burn simply means a company is accelerating its business development, but one should always be mindful that this causes the cash runway to shrink. Clearly, however, the crucial factor is whether the company will grow its business going forward. For that reason, it makes a lot of sense to take a look at our analyst forecasts for the company.
Nkarta去年没有记录任何收入,这表明它是一家仍在发展业务的早期公司。尽管如此,作为我们评估其现金消耗状况的一部分,我们仍然可以检查其现金消耗轨迹。在过去的十二个月中,其现金消耗实际上增加了58%。通常,现金消耗的增加只是意味着公司正在加速其业务发展,但人们应该时刻注意,这会导致现金跑道萎缩。但是,很明显,关键因素是该公司未来是否会发展业务。出于这个原因,看看我们的分析师对公司的预测很有意义。
Can Nkarta Raise More Cash Easily?
Nkarta 能否轻松筹集更多现金?
Given its cash burn trajectory, Nkarta shareholders may wish to consider how easily it could raise more cash, despite its solid cash runway. Issuing new shares, or taking on debt, are the most common ways for a listed company to raise more money for its business. Many companies end up issuing new shares to fund future 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.
鉴于其现金消耗轨迹,Nkarta的股东不妨考虑尽管现金流稳健,但它如何轻松地筹集更多现金。发行新股或承担债务是上市公司为其业务筹集更多资金的最常见方式。许多公司最终发行新股来为未来的增长提供资金。我们可以将公司的现金消耗与其市值进行比较,以了解一家公司必须发行多少新股才能为一年的运营提供资金。
Since it has a market capitalisation of US$154m, Nkarta's US$123m in cash burn equates to about 80% of its market value. Given how large that cash burn is, relative to the market value of the entire company, we'd consider it to be a high risk stock, with the real possibility of extreme dilution.
由于Nkarta的市值为1.54亿美元,因此其1.23亿美元的现金消耗相当于其市值的80%左右。考虑到现金消耗量相对于整个公司的市值有多大,我们认为这是一只高风险股票,确实有可能出现极度稀释。
So, Should We Worry About Nkarta's Cash Burn?
那么,我们应该担心 Nkarta 的现金消耗吗?
Even though its cash burn relative to its market cap makes us a little nervous, we are compelled to mention that we thought Nkarta's cash runway was relatively promising. Summing up, we think the Nkarta's cash burn is a risk, based on the factors we mentioned in this article. On another note, Nkarta has 4 warning signs (and 3 which make us uncomfortable) we think you should know about.
尽管相对于市值而言,它的现金消耗让我们有些紧张,但我们不得不提一下,我们认为恩卡塔的现金跑道相对有希望。总而言之,根据我们在本文中提到的因素,我们认为恩卡塔的现金消耗是一种风险。另一方面,恩卡塔有 4 个警告标志 (还有三个让我们感到不舒服)我们认为你应该知道。
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当然, 你可能会在其他地方找到一笔不错的投资。 所以来看看这个 免费的 内部人士正在买入的公司名单,以及这份成长型股票清单(根据分析师的预测)
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Simply Wall St 的这篇文章本质上是笼统的。 我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。 它不构成买入或卖出任何股票的建议,也没有考虑您的目标或财务状况。我们的目标是为您提供由基本面数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感公司公告或定性材料。简而言之,华尔街在上述任何股票中都没有头寸。