Does Kingenta Ecological Engineering Group (SZSE:002470) Have A Healthy Balance Sheet?
Does Kingenta Ecological Engineering Group (SZSE:002470) Have A Healthy Balance Sheet?
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.' It's only natural to consider a company's balance sheet when you examine how risky it is, since debt is often involved when a business collapses. As with many other companies Kingenta Ecological Engineering Group Co., Ltd. (SZSE:002470) makes use of debt. But should shareholders be worried about its use of debt?
由伯克希尔·哈撒韦公司的查理·芒格支持的外部基金经理李露对此毫不掩饰,他说:“最大的投资风险不是价格的波动,而是你是否会遭受永久的资本损失。”当你检查公司的资产负债表的风险时,考虑它的资产负债表是很自然的,因为企业倒闭时通常会涉及债务。与许多其他公司一样,金正达生态工程集团有限公司(深圳证券交易所:002470)也使用债务。但是,股东是否应该担心其债务的使用?
When Is Debt A Problem?
债务何时会成为问题?
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. If things get really bad, the lenders can take control of the business. However, a more frequent (but still costly) occurrence is where a company must issue shares at bargain-basement prices, permanently diluting shareholders, just to shore up its balance sheet. Having said that, the most common situation is where a company manages its debt reasonably well - and to its own advantage. The first thing to do when considering how much debt a business uses is to look at its cash and debt together.
债务是帮助企业增长的工具,但是如果企业无法偿还贷款,那么债务就任其摆布。如果情况变得非常糟糕,贷款人可以控制业务。但是,更频繁(但仍然昂贵)的情况是,公司必须以低廉的价格发行股票,永久稀释股东,以支撑其资产负债表。话虽如此,最常见的情况是公司合理地管理债务,而且对自己有利。在考虑企业使用多少债务时,要做的第一件事是同时考虑其现金和债务。
See our latest analysis for Kingenta Ecological Engineering Group
查看我们对金根塔生态工程集团的最新分析
What Is Kingenta Ecological Engineering Group's Debt?
金根塔生态工程集团的债务是多少?
The chart below, which you can click on for greater detail, shows that Kingenta Ecological Engineering Group had CN¥4.87b in debt in September 2023; about the same as the year before. However, it also had CN¥1.66b in cash, and so its net debt is CN¥3.21b.
您可以点击下图查看更多详情,该图表显示,金根塔生态工程集团在2023年9月有48.7亿元人民币的债务;与前一年大致相同。但是,它也有16.6亿元的现金,因此其净负债为32.1亿元人民币。
![debt-equity-history-analysis](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240104/0-29a57b5975e88f478ed828166afa4ce7-0-b381bc4b1a479045567bedf22d300498.png/big)
How Strong Is Kingenta Ecological Engineering Group's Balance Sheet?
金根塔生态工程集团的资产负债表有多强?
Zooming in on the latest balance sheet data, we can see that Kingenta Ecological Engineering Group had liabilities of CN¥8.32b due within 12 months and liabilities of CN¥1.91b due beyond that. Offsetting this, it had CN¥1.66b in cash and CN¥1.52b in receivables that were due within 12 months. So its liabilities outweigh the sum of its cash and (near-term) receivables by CN¥7.06b.
放大最新的资产负债表数据,我们可以看到,金根塔生态工程集团的负债为83.2亿元人民币,12个月后到期的负债为19.1亿元人民币。与此相抵消的是,它有16.6亿加元的现金和152亿元人民币的应收账款将在12个月内到期。因此,其负债超过其现金和(短期)应收账款总额70.6亿元人民币。
When you consider that this deficiency exceeds the company's CN¥5.95b market capitalization, you might well be inclined to review the balance sheet intently. In the scenario where the company had to clean up its balance sheet quickly, it seems likely shareholders would suffer extensive dilution. The balance sheet is clearly the area to focus on when you are analysing debt. But it is Kingenta Ecological Engineering Group's earnings that will influence how the balance sheet holds up in the future. So if you're keen to discover more about its earnings, it might be worth checking out this graph of its long term earnings trend.
当你考虑到这一缺口超过了公司59.5亿元人民币的市值时,你很可能会倾向于仔细审查资产负债表。在公司必须迅速清理资产负债表的情况下,股东似乎可能会遭受大规模稀释。资产负债表显然是分析债务时需要关注的领域。但是,影响未来资产负债表状况的是金根塔生态工程集团的收益。因此,如果你想进一步了解其收益,可能值得看看这张长期收益趋势图。
In the last year Kingenta Ecological Engineering Group had a loss before interest and tax, and actually shrunk its revenue by 2.9%, to CN¥9.0b. We would much prefer see growth.
去年,金根塔生态工程集团在利息和税前出现亏损,实际上其收入减少了2.9%,至90亿元人民币。我们更希望看到增长。
Caveat Emptor
Caveat Emptor
Over the last twelve months Kingenta Ecological Engineering Group produced an earnings before interest and tax (EBIT) loss. To be specific the EBIT loss came in at CN¥529m. When we look at that alongside the significant liabilities, we're not particularly confident about the company. It would need to improve its operations quickly for us to be interested in it. For example, we would not want to see a repeat of last year's loss of CN¥776m. In the meantime, we consider the stock to be 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. For instance, we've identified 1 warning sign for Kingenta Ecological Engineering Group that you should be aware of.
在过去的十二个月中,金根塔生态工程集团出现了息税前收益(EBIT)亏损。具体而言,息税前利润亏损为5.29亿元人民币。当我们将其与巨额负债一起看时,我们对公司并不特别有信心。它需要迅速改善其运营,我们才会对此感兴趣。例如,我们不希望看到去年7.76亿元人民币的亏损重演。同时,我们认为该股票存在风险。资产负债表显然是分析债务时需要关注的领域。但归根结底,每家公司都可以控制资产负债表之外存在的风险。例如,我们已经为金根塔生态工程集团确定了一个你应该注意的警告标志。
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.
当然,如果你是那种喜欢在没有债务负担的情况下购买股票的投资者,那么立即查看我们的净现金增长股票的独家清单。
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