-
市场
-
产品
-
资讯
-
Moo社区
-
课堂
-
查看更多
-
功能介绍
-
费用费用透明,无最低余额限制
投资选择、功能介绍、费用相关信息由Moomoo Financial Inc.提供
- English
- 中文繁體
- 中文简体
- 深色
- 浅色
These 4 Measures Indicate That Jiangsu Changbao SteeltubeLtd (SZSE:002478) Is Using Debt Reasonably Well
These 4 Measures Indicate That Jiangsu Changbao SteeltubeLtd (SZSE:002478) Is Using Debt Reasonably Well
Warren Buffett famously said, '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. As with many other companies Jiangsu Changbao Steeltube Co.,Ltd (SZSE:002478) makes use of debt. But the real question is whether this debt is making the company risky.
What Risk Does Debt Bring?
Debt assists a business until the business has trouble paying it off, either with new capital or with free cash flow. 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. Of course, debt can be an important tool in businesses, particularly capital heavy businesses. When we think about a company's use of debt, we first look at cash and debt together.
View our latest analysis for Jiangsu Changbao SteeltubeLtd
What Is Jiangsu Changbao SteeltubeLtd's Debt?
As you can see below, Jiangsu Changbao SteeltubeLtd had CN¥268.0m of debt, at March 2022, which is about the same as the year before. You can click the chart for greater detail. But on the other hand it also has CN¥1.44b in cash, leading to a CN¥1.17b net cash position.
SZSE:002478 Debt to Equity History August 9th 2022A Look At Jiangsu Changbao SteeltubeLtd's Liabilities
According to the last reported balance sheet, Jiangsu Changbao SteeltubeLtd had liabilities of CN¥2.45b due within 12 months, and liabilities of CN¥210.6m due beyond 12 months. Offsetting this, it had CN¥1.44b in cash and CN¥1.46b in receivables that were due within 12 months. So it actually has CN¥233.7m more liquid assets than total liabilities.
This surplus suggests that Jiangsu Changbao SteeltubeLtd has a conservative balance sheet, and could probably eliminate its debt without much difficulty. Succinctly put, Jiangsu Changbao SteeltubeLtd boasts net cash, so it's fair to say it does not have a heavy debt load!
It is just as well that Jiangsu Changbao SteeltubeLtd's load is not too heavy, because its EBIT was down 75% over the last year. Falling earnings (if the trend continues) could eventually make even modest debt quite risky. When analysing debt levels, the balance sheet is the obvious place to start. But it is future earnings, more than anything, that will determine Jiangsu Changbao SteeltubeLtd's ability to maintain a healthy balance sheet going forward. So if you want to see what the professionals think, you might find this free report on analyst profit forecasts to be interesting.
But our final consideration is also important, because a company cannot pay debt with paper profits; it needs cold hard cash. Jiangsu Changbao SteeltubeLtd 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. In the last three years, Jiangsu Changbao SteeltubeLtd created free cash flow amounting to 7.6% of its EBIT, an uninspiring performance. For us, cash conversion that low sparks a little paranoia about is ability to extinguish debt.
Summing Up
While we empathize with investors who find debt concerning, you should keep in mind that Jiangsu Changbao SteeltubeLtd has net cash of CN¥1.17b, as well as more liquid assets than liabilities. So we don't have any problem with Jiangsu Changbao SteeltubeLtd's use of debt. 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. For example, we've discovered 3 warning signs for Jiangsu Changbao SteeltubeLtd (1 makes us a bit uncomfortable!) that you should be aware of before investing here.
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.
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.
巴菲特(Warren Buffett)曾说过一句名言:波动性远非风险的代名词。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。与许多其他公司一样江苏长宝钢管有限公司(SZSE:002478)利用债务。但真正的问题是,这笔债务是否让该公司面临风险。
债务会带来什么风险?
债务帮助企业,直到企业难以偿还债务,无论是用新资本还是用自由现金流。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。当然,在企业中,债务可以是一个重要的工具,特别是资本密集型企业。当我们考虑一家公司的债务用途时,我们首先会把现金和债务放在一起看。
查看我们对江苏长宝钢管有限公司的最新分析
江苏长宝钢管有限公司的债务是什么?
如下所示,截至2022年3月,江苏长宝钢铁有限公司的债务为2.68亿元人民币,与前一年大致相同。您可以单击图表查看更多详细信息。但另一方面,它也拥有14.4亿元人民币的现金,导致11.7亿元人民币的净现金头寸。
深交所:002478债转股历史2022年8月9日江苏长宝钢管有限公司负债情况一瞥
根据最新报告的资产负债表,江苏长宝钢管有限公司有24.5亿加元的负债在12个月内到期,2.106亿加元的负债在12个月后到期。作为抵消,它有14.4亿加元的现金和14.6亿加元的应收账款在12个月内到期。所以它实际上有2.337亿元人民币更多流动资产超过总负债。
这一盈余表明,江苏长宝钢铁有限公司的资产负债表较为保守,很可能会毫不费力地消除债务。简而言之,江苏长宝钢铁有限公司拥有净现金,所以可以说它没有沉重的债务负担!
还好江苏长宝钢铁股份有限公司的负担不是太重,因为它的息税前利润比去年下降了75%。收益下降(如果这种趋势持续下去)最终可能会使规模不大的债务面临相当大的风险。在分析债务水平时,资产负债表显然是一个起点。但最重要的是,未来的收益将决定江苏长宝钢铁有限公司未来保持健康资产负债表的能力。因此,如果你想看看专业人士的想法,你可能会发现这份关于分析师利润预测的免费报告很有趣。
但我们的最后考虑也很重要,因为一家公司不能用账面利润来偿还债务;它需要冷硬现金。江苏长宝钢铁有限公司的资产负债表上可能有净现金,但看看该公司将息税前利润(EBIT)转换为自由现金流的情况仍然很有趣,因为这将影响其对债务的需求和管理债务的能力。在过去的三年里,江苏长宝钢管有限公司创造了相当于息税前利润7.6%的自由现金流,这是一个平淡无奇的表现。对我们来说,低现金转换引发了一点偏执,那就是偿还债务的能力。
总结
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,江苏长宝钢铁有限公司拥有11.7亿元人民币的净现金,流动资产多于负债。因此,我们对江苏长宝钢管有限公司的债务使用没有任何问题。在分析债务水平时,资产负债表显然是一个起点。然而,并非所有投资风险都存在于资产负债表中--远非如此。例如,我们发现江苏长宝钢管有限公司的3个警示标志(1让我们有点不舒服!)在这里投资之前你应该意识到这一点。
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,那么不要犹豫,今天就来看看我们的净现金成长型股票独家名单。
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。
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。
风险及免责提示
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。
- 分享到weixin
- 分享到qq
- 分享到facebook
- 分享到twitter
- 分享到微博
- 粘贴板
使用浏览器的分享功能,分享给你的好友吧