We Think Luoxin Pharmaceuticals Group Stock (SZSE:002793) Has A Fair Chunk Of Debt
We Think Luoxin Pharmaceuticals Group Stock (SZSE:002793) Has A Fair Chunk Of 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 seems the smart money knows that debt - which is usually involved in bankruptcies - is a very important factor, when you assess how risky a company is. Importantly, Luoxin Pharmaceuticals Group Stock Co., Ltd. (SZSE:002793) does carry debt. But the more important question is: how much risk is that debt creating?
傳奇基金經理Li·Lu曾說過,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的資本損失。因此,當你評估一家公司的風險有多大時,聰明的投資者似乎知道債務--通常涉及破產--是一個非常重要的因素。重要的是洛新醫藥集團股份有限公司。(SZSE:002793)確實有債務。但更重要的問題是:這筆債務造成了多大的風險?
What Risk Does Debt Bring?
債務會帶來什麼風險?
Debt assists a business until the business has trouble paying it off, either with new capital or with free cash flow. In the worst case scenario, a company can go bankrupt if it cannot pay its creditors. However, a more usual (but still expensive) situation is where a company must dilute shareholders at a cheap share price simply to get debt under control. 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.
債務幫助企業,直到企業難以償還債務,無論是用新資本還是用自由現金流。在最糟糕的情況下,如果一家公司無法償還債權人的債務,它可能會破產。然而,一種更常見(但仍然昂貴)的情況是,一家公司必須以低廉的股價稀釋股東的股份,才能控制債務。當然,在企業中,債務可以是一個重要的工具,特別是資本密集型企業。當我們考慮一家公司的債務用途時,我們首先會把現金和債務放在一起看。
Check out our latest analysis for Luoxin Pharmaceuticals Group Stock
查看我們對羅欣製藥集團股票的最新分析
How Much Debt Does Luoxin Pharmaceuticals Group Stock Carry?
羅欣醫藥集團股票背負著多少債務?
As you can see below, Luoxin Pharmaceuticals Group Stock had CN¥2.29b of debt at June 2023, down from CN¥3.29b a year prior. However, because it has a cash reserve of CN¥1.22b, its net debt is less, at about CN¥1.07b.
如下所示,截至2023年6月,洛新醫藥集團的債務為人民幣22.9億元,低於一年前的人民幣32.9億元。然而,由於其現金儲備為12.2億加元,其淨債務較少,約為10.7億加元。
![debt-equity-history-analysis](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231021/0-82383eaa7be374c73a3617e1ac4ab673-0-4d87cafba61929d0d2b9de1c471c4fd6.png/big)
A Look At Luoxin Pharmaceuticals Group Stock's Liabilities
洛新醫藥集團股份有限公司的負債問題
The latest balance sheet data shows that Luoxin Pharmaceuticals Group Stock had liabilities of CN¥2.67b due within a year, and liabilities of CN¥709.2m falling due after that. On the other hand, it had cash of CN¥1.22b and CN¥1.16b worth of receivables due within a year. So its liabilities outweigh the sum of its cash and (near-term) receivables by CN¥995.9m.
最新的資產負債表數據顯示,洛新醫藥集團股份有限公司有26.7億元的負債在一年內到期,7.092億元的負債在一年內到期。另一方面,它有12.2億元現金和11.6億元應收賬款在一年內到期。因此,它的負債超過了現金和(近期)應收賬款的總和9.959億元。
Since publicly traded Luoxin Pharmaceuticals Group Stock shares are worth a total of CN¥5.87b, it seems unlikely that this level of liabilities would be a major threat. Having said that, it's clear that we should continue to monitor its balance sheet, lest it change for the worse. When analysing debt levels, the balance sheet is the obvious place to start. But you can't view debt in total isolation; since Luoxin Pharmaceuticals Group Stock will need earnings to service that debt. So when considering debt, it's definitely worth looking at the earnings trend. Click here for an interactive snapshot.
由於上市的羅欣醫藥集團股票總價值為58.7億元人民幣,這種負債水準似乎不太可能構成重大威脅。話雖如此,很明顯,我們應該繼續監控它的資產負債表,以免它變得更糟。在分析債務水準時,資產負債表顯然是一個起點。但你不能完全孤立地看待債務,因為洛新醫藥集團的股票需要盈利來償還債務。因此,當考慮債務時,絕對值得關注收益趨勢。點擊此處查看互動快照。
In the last year Luoxin Pharmaceuticals Group Stock had a loss before interest and tax, and actually shrunk its revenue by 72%, to CN¥1.7b. To be frank that doesn't bode well.
去年羅新醫藥集團股票息稅前虧損,實際營收縮水72%,至17億加元。坦率地說,這不是一個好兆頭。
Caveat Emptor
告誡買入者
While Luoxin Pharmaceuticals Group Stock's falling revenue is about as heartwarming as a wet blanket, arguably its earnings before interest and tax (EBIT) loss is even less appealing. Its EBIT loss was a whopping CN¥1.7b. Considering that alongside the liabilities mentioned above does not give us much confidence that company should be using so much debt. So we think its balance sheet is a little strained, though not beyond repair. Another cause for caution is that is bled CN¥77m in negative free cash flow over the last twelve months. So to be blunt we think it is risky. The balance sheet is clearly the area to focus on when you are analysing debt. But ultimately, every company can contain risks that exist outside of the balance sheet. These risks can be hard to spot. Every company has them, and we've spotted 1 warning sign for Luoxin Pharmaceuticals Group Stock you should know about.
雖然洛新制藥集團股票收入的下降令人心碎,但可以說,其息稅前利潤(EBIT)虧損就更沒有吸引力了。其息稅前利潤損失高達人民幣17億元。考慮到除了上面提到的債務,我們對公司應該使用如此多的債務沒有太大的信心。因此,我們認為它的資產負債表有點緊張,但並不是無法修復。另一個值得警惕的原因是,在過去的12個月裡,中國的自由現金流為負7700萬元。因此,坦率地說,我們認為這是有風險的。當你分析債務時,資產負債表顯然是你關注的領域。但歸根結底,每家公司都可能包含存在於資產負債表之外的風險。這些風險可能很難發現。每家公司都有它們,我們已經發現1羅欣醫藥集團股票警示標誌你應該知道。
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,那麼不要猶豫,今天就來看看我們的淨現金成長型股票獨家名單。
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本文由Simply Wall St.撰寫,具有概括性.我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論,我們的文章並不打算作為財務建議.它不構成買賣任何股票的建議,也沒有考慮你的目標或你的財務狀況.我們的目標是為您帶來由基本面數據驅動的長期重點分析.請注意,我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內.Simply Wall St.對上述任何一隻股票都沒有持倉.