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We Think Fujian Boss Software (SZSE:300525) Can Manage Its Debt With Ease
We Think Fujian Boss Software (SZSE:300525) Can Manage Its Debt With Ease
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously said that 'Volatility is far from synonymous with risk.' 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. We can see that Fujian Boss Software Corp. (SZSE:300525) does use debt in its business. But should shareholders be worried about its use of debt?
When Is Debt Dangerous?
Debt and other liabilities become risky for a business when it cannot easily fulfill those obligations, either with free cash flow or by raising capital at an attractive price. Ultimately, if the company can't fulfill its legal obligations to repay debt, shareholders could walk away with nothing. 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. Having said that, the most common situation is where a company manages its debt reasonably well - and to its own advantage. When we examine debt levels, we first consider both cash and debt levels, together.
View our latest analysis for Fujian Boss Software
How Much Debt Does Fujian Boss Software Carry?
As you can see below, Fujian Boss Software had CN¥82.0m of debt at March 2022, down from CN¥220.1m a year prior. However, it does have CN¥632.2m in cash offsetting this, leading to net cash of CN¥550.2m.
SZSE:300525 Debt to Equity History June 8th 2022A Look At Fujian Boss Software's Liabilities
We can see from the most recent balance sheet that Fujian Boss Software had liabilities of CN¥477.5m falling due within a year, and liabilities of CN¥33.2m due beyond that. Offsetting these obligations, it had cash of CN¥632.2m as well as receivables valued at CN¥640.6m due within 12 months. So it actually has CN¥762.1m more liquid assets than total liabilities.
This short term liquidity is a sign that Fujian Boss Software could probably pay off its debt with ease, as its balance sheet is far from stretched. Succinctly put, Fujian Boss Software boasts net cash, so it's fair to say it does not have a heavy debt load!
On top of that, Fujian Boss Software grew its EBIT by 45% over the last twelve months, and that growth will make it easier to handle its debt. There's no doubt that we learn most about debt from the balance sheet. But ultimately the future profitability of the business will decide if Fujian Boss Software 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.
Finally, while the tax-man may adore accounting profits, lenders only accept cold hard cash. Fujian Boss Software may have net cash on the balance sheet, but it is still interesting to look at how well the business converts its earnings before interest and tax (EBIT) to free cash flow, because that will influence both its need for, and its capacity to manage debt. Looking at the most recent three years, Fujian Boss Software recorded free cash flow of 33% of its EBIT, which is weaker than we'd expect. That weak cash conversion makes it more difficult to handle indebtedness.
Summing up
While we empathize with investors who find debt concerning, you should keep in mind that Fujian Boss Software has net cash of CN¥550.2m, as well as more liquid assets than liabilities. And it impressed us with its EBIT growth of 45% over the last year. So we don't think Fujian Boss Software's use of debt is risky. Above most other metrics, we think its important to track how fast earnings per share is growing, if at all. If you've also come to that realization, you're in luck, because today you can view this interactive graph of Fujian Boss Software's earnings per share history for free.
If you're interested in investing in businesses that can grow profits without the burden of debt, then check out this free list of growing businesses that have net cash on the balance sheet.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously said that 'Volatility is far from synonymous with risk.' 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. We can see that Fujian Boss Software Corp. (SZSE:300525) does use debt in its business. But should shareholders be worried about its use of debt?
一些人说,作为投资者,考虑风险的最佳方式是波动性,而不是债务,但巴菲特曾说过一句名言:波动性远非风险的同义词。当你考察一家公司的风险有多大时,考虑它的资产负债表是很自然的,因为当一家企业倒闭时,债务往往会涉及到它。我们可以看到福建博斯软件公司(SZSE:300525)确实在其业务中使用债务。但股东是否应该担心它的债务使用情况?
When Is Debt Dangerous?
债务在什么时候是危险的?
Debt and other liabilities become risky for a business when it cannot easily fulfill those obligations, either with free cash flow or by raising capital at an attractive price. Ultimately, if the company can't fulfill its legal obligations to repay debt, shareholders could walk away with nothing. 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. Having said that, the most common situation is where a company manages its debt reasonably well - and to its own advantage. When we examine debt levels, we first consider both cash and debt levels, together.
当一家企业无法轻松履行这些义务时,债务和其他债务就会变得有风险,无论是通过自由现金流还是通过以有吸引力的价格筹集资本。最终,如果公司不能履行其偿还债务的法定义务,股东可能会一无所有地离开。然而,一种更常见(但仍然昂贵)的情况是,一家公司必须以低廉的股价稀释股东的股份,才能控制债务。话虽如此,最常见的情况是一家公司对债务管理得相当好--并对自己有利。当我们检查债务水平时,我们首先同时考虑现金和债务水平。
View our latest analysis for Fujian Boss Software
查看我们对福建老板软件的最新分析
How Much Debt Does Fujian Boss Software Carry?
福建老板软件背负着多少债务?
As you can see below, Fujian Boss Software had CN¥82.0m of debt at March 2022, down from CN¥220.1m a year prior. However, it does have CN¥632.2m in cash offsetting this, leading to net cash of CN¥550.2m.
如下所示,截至2022年3月,福建博斯软件的债务为人民币8200万元,低于一年前的人民币2.201亿元。然而,它确实有6.322亿加元的现金来抵消这一点,导致净现金5.502亿加元。
A Look At Fujian Boss Software's Liabilities
看福建老板软件的负债情况
We can see from the most recent balance sheet that Fujian Boss Software had liabilities of CN¥477.5m falling due within a year, and liabilities of CN¥33.2m due beyond that. Offsetting these obligations, it had cash of CN¥632.2m as well as receivables valued at CN¥640.6m due within 12 months. So it actually has CN¥762.1m more liquid assets than total liabilities.
从最新的资产负债表可以看出,福建老板软件有4.775亿元的负债在一年内到期,超过一年的负债有3320万元到期。为了抵消这些债务,该公司有6.322亿加元的现金以及价值6.406亿加元的应收账款在12个月内到期。所以它实际上有7.621亿元人民币更多流动资产超过总负债。
This short term liquidity is a sign that Fujian Boss Software could probably pay off its debt with ease, as its balance sheet is far from stretched. Succinctly put, Fujian Boss Software boasts net cash, so it's fair to say it does not have a heavy debt load!
这种短期流动性是一个迹象,表明福建老板软件很可能可以轻松偿还债务,因为该公司的资产负债表远未捉襟见肘。简而言之,福建老板软件拥有净现金,所以可以说它没有沉重的债务负担!
On top of that, Fujian Boss Software grew its EBIT by 45% over the last twelve months, and that growth will make it easier to handle its debt. There's no doubt that we learn most about debt from the balance sheet. But ultimately the future profitability of the business will decide if Fujian Boss Software 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.
最重要的是,福建老板软件在过去12个月中息税前利润增长了45%,这一增长将使其更容易处理债务。毫无疑问,我们从资产负债表中了解到的债务最多。但最终,该业务未来的盈利能力将决定福建博斯软件能否随着时间的推移加强其资产负债表。所以,如果你关注未来,你可以看看这个免费显示分析师利润预测的报告。
Finally, while the tax-man may adore accounting profits, lenders only accept cold hard cash. Fujian Boss Software may have net cash on the balance sheet, but it is still interesting to look at how well the business converts its earnings before interest and tax (EBIT) to free cash flow, because that will influence both its need for, and its capacity to manage debt. Looking at the most recent three years, Fujian Boss Software recorded free cash flow of 33% of its EBIT, which is weaker than we'd expect. That weak cash conversion makes it more difficult to handle indebtedness.
最后,尽管税务人员可能喜欢会计利润,但贷款人只接受冷硬现金。福建老板软件的资产负债表上可能有净现金,但看看该业务将息税前利润(EBIT)转换为自由现金流的情况仍很有趣,因为这将影响其对债务的需求和管理债务的能力。纵观最近三年,福建博斯软件录得的自由现金流占其息税前利润的33%,比我们预期的要弱。这种疲软的现金转换增加了处理债务的难度。
Summing up
总结
While we empathize with investors who find debt concerning, you should keep in mind that Fujian Boss Software has net cash of CN¥550.2m, as well as more liquid assets than liabilities. And it impressed us with its EBIT growth of 45% over the last year. So we don't think Fujian Boss Software's use of debt is risky. Above most other metrics, we think its important to track how fast earnings per share is growing, if at all. If you've also come to that realization, you're in luck, because today you can view this interactive graph of Fujian Boss Software's earnings per share history for free.
虽然我们同情那些对债务感到担忧的投资者,但你应该记住,福建老板软件拥有5.502亿元人民币的净现金,流动资产多于负债。去年息税前利润增长了45%,给我们留下了深刻的印象。因此,我们不认为福建老板软件使用债务是有风险的。在大多数其他指标中,我们认为跟踪每股收益的增长速度(如果有的话)是很重要的。如果你也意识到了这一点,你就幸运了,因为今天你可以免费查看福建老板软件每股收益历史的互动图表。
If you're interested in investing in businesses that can grow profits without the burden of debt, then check out this free list of growing businesses that have net cash on the balance sheet.
如果你有兴趣投资于可以在没有债务负担的情况下增长利润的企业,那么看看这个免费资产负债表上有净现金的成长型企业名单。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
对这篇文章有什么反馈吗?担心内容吗? 保持联系直接与我们联系。或者,也可以给编辑组发电子邮件,地址是implywallst.com。
本文由Simply Wall St.撰写,具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论,我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议,也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意,我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。
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moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
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