Montrose Environmental Group (NYSE:MEG) Is Carrying A Fair Bit Of Debt
Montrose Environmental Group (NYSE:MEG) Is Carrying A Fair Bit Of Debt
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 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, Montrose Environmental Group, Inc. (NYSE:MEG) does carry debt. But the real question is whether this debt is making the company risky.
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,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。重要的是,蒙特羅斯環境集團有限公司(紐約證券交易所代碼:MEG)確實有債務。但真正的問題是這筆債務是否使公司面臨風險。
What Risk Does Debt Bring?
債務會帶來什麼風險?
Generally speaking, debt only becomes a real problem when a company can't easily pay it off, either by raising capital or with its own cash flow. If things get really bad, the lenders can take control of the business. 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. The first step when considering a company's debt levels is to consider its cash and debt together.
一般而言,只有當公司無法通過籌集資金或用自己的現金流輕鬆還清債務時,債務才會成爲真正的問題。如果情況變得非常糟糕,貸款人可以控制業務。但是,更常見(但仍然昂貴)的情況是,公司爲了控制債務,必須以低廉的股價稀釋股東。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。
How Much Debt Does Montrose Environmental Group Carry?
蒙特羅斯環境集團揹負了多少債務?
You can click the graphic below for the historical numbers, but it shows that as of June 2024 Montrose Environmental Group had US$212.4m of debt, an increase on US$169.1m, over one year. However, it does have US$18.3m in cash offsetting this, leading to net debt of about US$194.1m.
你可以點擊下圖查看歷史數字,但它顯示,截至2024年6月,蒙特羅斯環境集團在一年內有2.124億美元的債務,比1.691億美元有所增加。但是,它確實有1830萬美元的現金抵消了這一點,淨負債約爲1.941億美元。
![1724930573038](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240829/43063596-0-422dcf165a40e8f2115773dbbb85a309.webp/bigjpg)
A Look At Montrose Environmental Group's Liabilities
看看蒙特羅斯環境集團的負債
According to the last reported balance sheet, Montrose Environmental Group had liabilities of US$131.7m due within 12 months, and liabilities of US$270.5m due beyond 12 months. Offsetting this, it had US$18.3m in cash and US$208.9m in receivables that were due within 12 months. So its liabilities outweigh the sum of its cash and (near-term) receivables by US$175.0m.
根據上次報告的資產負債表,蒙特羅斯環境集團在12個月內到期的負債爲1.317億美元,12個月以後到期的負債爲2.705億美元。與此相抵消的是,它有1,830萬美元的現金和2.089億美元的應收賬款將在12個月內到期。因此,其負債超過其現金和(短期)應收賬款總額1.75億美元。
Given Montrose Environmental Group has a market capitalization of US$1.12b, 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. When analysing debt levels, the balance sheet is the obvious place to start. But ultimately the future profitability of the business will decide if Montrose Environmental Group can strengthen its balance sheet over time. So if you want to see what the professionals think, you might find this free report on analyst profit forecasts to be interesting.
鑑於蒙特羅斯環境集團的市值爲11.2億美元,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。在分析債務水平時,資產負債表是顯而易見的起點。但最終,該業務的未來盈利能力將決定蒙特羅斯環境集團能否隨着時間的推移加強其資產負債表。因此,如果你想看看專業人士的想法,你可能會發現這份關於分析師利潤預測的免費報告很有趣。
Over 12 months, Montrose Environmental Group reported revenue of US$662m, which is a gain of 18%, although it did not report any earnings before interest and tax. We usually like to see faster growth from unprofitable companies, but each to their own.
在過去的12個月中,蒙特羅斯環境集團報告的收入爲6.62億美元,增長了18%,儘管它沒有報告任何利息和稅前收益。我們通常希望看到無利可圖的公司實現更快的增長,但每家公司都有自己的發展。
Caveat Emptor
Caveat Emptor
Importantly, Montrose Environmental Group had an earnings before interest and tax (EBIT) loss over the last year. Indeed, it lost US$18m at the EBIT level. When we look at that and recall the liabilities on its balance sheet, relative to cash, it seems unwise to us for the company to have any debt. So we think its balance sheet is a little strained, though not beyond repair. Another cause for caution is that is bled US$19m in negative free cash flow over the last twelve months. So suffice it to say we do consider the stock to be risky. The balance sheet is clearly the area to focus on when you are analysing debt. However, not all investment risk resides within the balance sheet - far from it. To that end, you should be aware of the 3 warning signs we've spotted with Montrose Environmental Group .
重要的是,蒙特羅斯環境集團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1800萬美元。當我們審視這一點並回顧其資產負債表上相對於現金的負債時,對我們來說,公司有任何債務似乎是不明智的。因此,我們認爲其資產負債表有些緊張,儘管並非無法修復。另一個需要謹慎的原因是,在過去的十二個月中,自由現金流的負數爲1900萬美元。因此,只要說我們確實認爲這隻股票有風險就足夠了。資產負債表顯然是分析債務時需要關注的領域。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,你應該注意我們在蒙特羅斯環境集團發現的3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。