Is Tandem Diabetes Care (NASDAQ:TNDM) Using Debt In A Risky Way?
Is Tandem Diabetes Care (NASDAQ:TNDM) Using Debt In A Risky Way?
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the permanent loss of capital.' So it might be obvious that you need to consider debt, when you think about how risky any given stock is, because too much debt can sink a company. We note that Tandem Diabetes Care, Inc. (NASDAQ:TNDM) does have debt on its balance sheet. But should shareholders be worried about its use of debt?
大衛·伊本說得好,他說:“波動性不是我們關心的風險。我們關心的是避免資本的永久損失。”因此,很明顯,當你考慮任何給定股票的風險時,你需要考慮債務,因爲過多的債務會使公司陷入困境。我們注意到,Tandem Diabetes Care, Inc.(納斯達克股票代碼:TNDM)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?
Why Does Debt Bring Risk?
爲什麼債務會帶來風險?
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 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 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,更頻繁(但仍然昂貴)的情況是,公司必須以低廉的價格發行股票,永久稀釋股東,以支撐其資產負債表。話雖如此,最常見的情況是公司合理地管理債務,而且對自己有利。考慮公司的債務水平的第一步是同時考慮其現金和債務。
What Is Tandem Diabetes Care's Net Debt?
什麼是Tandem Diabetes Care的淨負債?
The chart below, which you can click on for greater detail, shows that Tandem Diabetes Care had US$289.7m in debt in December 2023; about the same as the year before. But on the other hand it also has US$467.9m in cash, leading to a US$178.2m net cash position.
您可以點擊下圖了解更多詳情,該圖表顯示,2023年12月,Tandem Diabetes Care的債務爲2.897億美元;與前一年大致相同。但另一方面,它也有4.679億美元的現金,淨現金狀況爲1.782億美元。
![debt-equity-history-analysis](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240322/0-6315819ef82e5888c0c283230a10290f-0-937109fb9df4d3d25565c2fbef7f0822.png/big)
How Strong Is Tandem Diabetes Care's Balance Sheet?
Tandem Diabetes Care的資產負債表有多強?
According to the last reported balance sheet, Tandem Diabetes Care had liabilities of US$195.3m due within 12 months, and liabilities of US$443.8m due beyond 12 months. Offsetting these obligations, it had cash of US$467.9m as well as receivables valued at US$105.6m due within 12 months. So its liabilities total US$65.6m more than the combination of its cash and short-term receivables.
根據上次報告的資產負債表,Tandem Diabetes Care的負債爲1.953億美元,12個月以後到期的負債爲4.438億美元。除這些債務外,它有4.679億美元的現金以及價值1.056億美元的應收賬款將在12個月內到期。因此,其負債總額比其現金和短期應收賬款的總和高出6,560萬美元。
Given Tandem Diabetes Care has a market capitalization of US$2.13b, it's hard to believe these liabilities pose much threat. However, we do think it is worth keeping an eye on its balance sheet strength, as it may change over time. While it does have liabilities worth noting, Tandem Diabetes Care also has more cash than debt, so we're pretty confident it can manage its debt safely. When analysing debt levels, the balance sheet is the obvious place to start. But ultimately the future profitability of the business will decide if Tandem Diabetes Care can strengthen its balance sheet over time. So if you're focused on the future you can check out this free report showing analyst profit forecasts.
鑑於Tandem Diabetes Care的市值爲21.3億美元,很難相信這些負債會構成很大的威脅。但是,我們確實認爲值得關注其資產負債表的實力,因爲它可能會隨着時間的推移而發生變化。儘管Tandem Diabetes Care確實有值得注意的負債,但其現金也多於債務,因此我們非常有信心它可以安全地管理債務。在分析債務水平時,資產負債表是顯而易見的起點。但最終,該業務未來的盈利能力將決定Tandem Diabetes Care能否隨着時間的推移加強其資產負債表。因此,如果您專注於未來,可以查看這份顯示分析師利潤預測的免費報告。
Over 12 months, Tandem Diabetes Care made a loss at the EBIT level, and saw its revenue drop to US$748m, which is a fall of 6.7%. We would much prefer see growth.
在過去的12個月中,Tandem Diabetes Care的息稅前利潤水平出現虧損,收入降至7.48億美元,下降6.7%。我們更希望看到增長。
So How Risky Is Tandem Diabetes Care?
那麼,Tandem 糖尿病護理的風險有多大?
By their very nature companies that are losing money are more risky than those with a long history of profitability. And we do note that Tandem Diabetes Care had an earnings before interest and tax (EBIT) loss, over the last year. And over the same period it saw negative free cash outflow of US$83m and booked a US$223m accounting loss. But the saving grace is the US$178.2m on the balance sheet. That kitty means the company can keep spending for growth for at least two years, at current rates. Overall, we'd say the stock is a bit risky, and we're usually very cautious until we see positive free cash flow. 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. To that end, you should be aware of the 2 warning signs we've spotted with Tandem Diabetes Care .
就其本質而言,虧損的公司比盈利歷史悠久的公司風險更大。而且我們確實注意到,Tandem Diabetes Care去年出現了息稅前收益(EBIT)虧損。同期,它的自由現金流出爲負8300萬美元,會計虧損爲2.23億美元。但最幸運的是資產負債表上的1.782億美元。這意味着,按照目前的速度,公司可以將增長支出保持至少兩年。總的來說,我們會說這隻股票有點風險,在看到正的自由現金流之前,我們通常會非常謹慎。在分析債務水平時,資產負債表是顯而易見的起點。但是,並非所有的投資風險都存在於資產負債表中,遠非如此。爲此,你應該注意我們在Tandem Diabetes Care中發現的兩個警告信號。
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根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。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,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。