Heilongjiang ZBD Pharmaceutical (SHSE:603567) Is Making Moderate Use Of Debt
Heilongjiang ZBD Pharmaceutical (SHSE:603567) Is Making Moderate Use Of Debt
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' 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. We note that Heilongjiang ZBD Pharmaceutical Co., Ltd. (SHSE:603567) does have debt on its balance sheet. But should shareholders be worried about its use of debt?
沃倫·巴菲特曾說過一句名言:“波動性遠非風險的代名詞。”因此,當你評估公司的風險時,看來聰明的貨幣知道債務(通常涉及破產)是一個非常重要的因素。我們注意到,黑龍江正必達藥業有限公司(SHSE: 603567)的資產負債表上確實有債務。但是,股東是否應該擔心其債務的使用?
When Is Debt Dangerous?
債務何時危險?
Debt is a tool to help businesses grow, but if a business is incapable of paying off its lenders, then it exists at their mercy. In the worst case scenario, a company can go bankrupt if it cannot pay its creditors. However, a more common (but still painful) scenario is that it has to raise new equity capital at a low price, thus permanently diluting shareholders. 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.
債務是幫助企業增長的工具,但是如果企業無法償還貸款,那麼債務就任其擺佈。在最壞的情況下,如果公司無法向債權人付款,它可能會破產。但是,更常見(但仍然令人痛苦)的情況是,它必須以低廉的價格籌集新的股本,從而永久稀釋股東。當然,債務可以成爲企業的重要工具,尤其是資本密集型企業。考慮公司的債務水平的第一步是同時考慮其現金和債務。
Check out our latest analysis for Heilongjiang ZBD Pharmaceutical
查看我們對黑龍江ZBD製藥的最新分析
What Is Heilongjiang ZBD Pharmaceutical's Debt?
黑龍江ZBD製藥的債務是多少?
As you can see below, Heilongjiang ZBD Pharmaceutical had CN¥3.05b of debt, at September 2023, which is about the same as the year before. You can click the chart for greater detail. However, because it has a cash reserve of CN¥854.2m, its net debt is less, at about CN¥2.19b.
如下所示,截至2023年9月,黑龍江衆邦達藥業的債務爲30.5億元人民幣,與前一年大致持平。您可以單擊圖表以獲取更多詳細信息。但是,由於其現金儲備爲8.542億元人民幣,其淨負債較少,約爲21.9億元人民幣。
![debt-equity-history-analysis](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231218/0-fb17add8ed111db76b2dd5d9a763e030-0-fce6b38b4e58912ba54887b760edc781.png/big)
How Healthy Is Heilongjiang ZBD Pharmaceutical's Balance Sheet?
黑龍江ZBD製藥的資產負債表有多健康?
The latest balance sheet data shows that Heilongjiang ZBD Pharmaceutical had liabilities of CN¥2.69b due within a year, and liabilities of CN¥1.44b falling due after that. On the other hand, it had cash of CN¥854.2m and CN¥4.28b worth of receivables due within a year. So it actually has CN¥1.01b more liquid assets than total liabilities.
最新的資產負債表數據顯示,黑龍江中邦達藥業在一年內到期的負債爲26.9億元人民幣,此後到期的負債爲14.4億元人民幣。另一方面,它在一年內有8.542億元人民幣的現金和價值42.8億元人民幣的應收賬款。所以它實際上有人民幣1.01億元人民幣 更多 流動資產大於總負債。
This short term liquidity is a sign that Heilongjiang ZBD Pharmaceutical could probably pay off its debt with ease, as its balance sheet is far from stretched. When analysing debt levels, the balance sheet is the obvious place to start. But you can't view debt in total isolation; since Heilongjiang ZBD Pharmaceutical 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.
這種短期流動性表明,黑龍江正必達藥業可能會輕鬆償還債務,因爲其資產負債表遠未捉襟見肘。在分析債務水平時,資產負債表是顯而易見的起點。但是你不能完全孤立地看待債務;因爲黑龍江ZBD Pharmical需要收益來償還債務。因此,在考慮債務時,絕對值得一看收益趨勢。單擊此處查看交互式快照。
In the last year Heilongjiang ZBD Pharmaceutical had a loss before interest and tax, and actually shrunk its revenue by 8.7%, to CN¥4.3b. We would much prefer see growth.
去年,黑龍江ZBD製藥在利息和稅前出現虧損,實際收入減少了8.7%,至43億元人民幣。我們更希望看到增長。
Caveat Emptor
Caveat Emptor
Importantly, Heilongjiang ZBD Pharmaceutical had an earnings before interest and tax (EBIT) loss over the last year. Indeed, it lost CN¥161m at the EBIT level. On a more positive note, the company does have liquid assets, so it has a bit of time to improve its operations before the debt becomes an acute problem. Still, we'd be more encouraged to study the business in depth if it already had some free cash flow. So it seems too risky for our taste. 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. For example, we've discovered 2 warning signs for Heilongjiang ZBD Pharmaceutical (1 is potentially serious!) that you should be aware of before investing here.
重要的是,黑龍江ZBD製藥在去年出現了息稅前收益(EBIT)虧損。事實上,它在息稅前利潤水平上損失了1.61億元人民幣。從更積極的方面來看,該公司確實擁有流動資產,因此在債務成爲嚴重問題之前,它有一點時間來改善運營。儘管如此,如果該業務已經有一定的自由現金流,我們將更鼓勵我們深入研究該業務。因此,對於我們的口味來說,這似乎太冒險了。在分析債務水平時,資產負債表是顯而易見的起點。但歸根結底,每家公司都可以控制資產負債表之外存在的風險。例如,我們發現了黑龍江正必達藥業的 2 個警告信號(1 個可能很嚴重!)在這裏投資之前,您應該注意這一點。
If, after all that, you're more interested in a fast growing company with a rock-solid balance sheet, then check out our list of net cash growth stocks without delay.
畢竟,如果你對一家資產負債表堅如磐石的快速成長型公司更感興趣,那麼請立即查看我們的淨現金增長股票清單。
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Simply Wall St 的這篇文章本質上是籠統的。我們僅使用公正的方法提供基於歷史數據和分析師預測的評論,我們的文章並非旨在提供財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不會考慮最新的價格敏感型公司公告或定性材料。華爾街只是沒有持有上述任何股票的頭寸。