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Health Check: How Prudently Does IRhythm Technologies (NASDAQ:IRTC) Use Debt?
Health Check: How Prudently Does IRhythm Technologies (NASDAQ:IRTC) Use Debt?
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility of prices, but whether you will suffer a 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 can see that iRhythm Technologies, Inc. (NASDAQ:IRTC) does use debt in its business. But the real question is whether this debt is making the company risky.
What Risk Does Debt Bring?
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. 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. 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.
Check out our latest analysis for iRhythm Technologies
What Is iRhythm Technologies's Debt?
The image below, which you can click on for greater detail, shows that at June 2022 iRhythm Technologies had debt of US$34.9m, up from US$27.2m in one year. But on the other hand it also has US$204.5m in cash, leading to a US$169.6m net cash position.
NasdaqGS:IRTC Debt to Equity History September 26th 2022How Healthy Is iRhythm Technologies' Balance Sheet?
We can see from the most recent balance sheet that iRhythm Technologies had liabilities of US$70.4m falling due within a year, and liabilities of US$120.6m due beyond that. On the other hand, it had cash of US$204.5m and US$57.4m worth of receivables due within a year. So it can boast US$70.8m more liquid assets than total liabilities.
Having regard to iRhythm Technologies' size, it seems that its liquid assets are well balanced with its total liabilities. So while it's hard to imagine that the US$3.69b company is struggling for cash, we still think it's worth monitoring its balance sheet. Succinctly put, iRhythm Technologies boasts net cash, so it's fair to say it does not have a heavy debt load! The balance sheet is clearly the area to focus on when you are analysing debt. But it is future earnings, more than anything, that will determine iRhythm Technologies's ability to maintain a healthy balance sheet going forward. So if you're focused on the future you can check out this free report showing analyst profit forecasts.
In the last year iRhythm Technologies wasn't profitable at an EBIT level, but managed to grow its revenue by 18%, to US$362m. We usually like to see faster growth from unprofitable companies, but each to their own.
So How Risky Is iRhythm Technologies?
We have no doubt that loss making companies are, in general, riskier than profitable ones. And the fact is that over the last twelve months iRhythm Technologies lost money at the earnings before interest and tax (EBIT) line. Indeed, in that time it burnt through US$69m of cash and made a loss of US$131m. However, it has net cash of US$169.6m, so it has a bit of time before it will need more capital. Even though its balance sheet seems sufficiently liquid, debt always makes us a little nervous if a company doesn't produce free cash flow regularly. There's no doubt that we learn most about debt from the balance sheet. But ultimately, every company can contain risks that exist outside of the balance sheet. Case in point: We've spotted 3 warning signs for iRhythm Technologies you should be aware of.
At the end of the day, it's often better to focus on companies that are free from net debt. You can access our special list of such companies (all with a track record of profit growth). It's free.
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.
传奇基金经理理想汽车·卢曾说,最大的投资风险不是价格的波动,而是你是否会遭受永久性的资本损失。因此,当你考虑到任何一只股票的风险有多大时,你需要考虑债务可能是显而易见的,因为太多的债务可能会让一家公司倒闭。我们可以看到IRhythm技术公司纳斯达克(Sequoia Capital:IRTC)确实在业务中使用债务。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?
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。如果情况真的变得很糟糕,贷款人可以控制业务。然而,更常见(但代价仍然高昂)的情况是,一家公司必须以极低的价格发行股票,永久性地稀释股东的股份,只是为了支撑其资产负债表。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。在考虑一家公司的债务水平时,第一步是同时考虑其现金和债务。
查看我们对iRhythm Technologies的最新分析
IRhythm Technologies的债务是什么?
下图(您可以单击查看更多详细信息)显示,截至2022年6月,iRhythm Technologies的债务为3490万美元,高于一年内的2720万美元。但另一方面,它也拥有2.045亿美元的现金,导致净现金头寸为1.696亿美元。
NasdaqGS:IRTC债转股历史2022年9月26日IRhythm Technologies的资产负债表有多健康?
我们可以从最新的资产负债表中看到,iRhythm Technologies有7040万美元的负债在一年内到期,超过一年的负债有1.206亿美元到期。另一方面,它有2.045亿美元的现金和5740万美元的应收账款在一年内到期。因此,它可以吹嘘自己拥有的流动资产比总计负债。
考虑到iRhythm Technologies的规模,它的流动资产与总负债似乎很好地平衡了。因此,尽管很难想象这家市值36.9亿美元的公司正在为现金而苦苦挣扎,但我们仍认为值得监控其资产负债表。简而言之,iRhythm Technologies拥有净现金,所以可以公平地说,它没有沉重的债务负担!当你分析债务时,资产负债表显然是你关注的领域。但iRhythm Technologies未来保持健康资产负债表的能力将取决于未来的收益,而不是任何东西。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。
去年,iRhythm Technologies在息税前利润水平上没有盈利,但其收入增长了18%,达到3.62亿美元。我们通常喜欢看到不盈利的公司实现更快的增长,但每个公司都有自己的特点。
那么iRhythm Technologies的风险有多大呢?
我们毫不怀疑,总的来说,亏损公司比盈利公司风险更大。事实是,在过去的12个月里,iRhythm Technologies在息税前收益(EBIT)线上亏损。事实上,在此期间,它烧掉了6900万美元的现金,亏损了1.31亿美元。然而,它拥有1.696亿美元的净现金,因此它在需要更多资本之前还有一段时间。尽管一家公司的资产负债表似乎流动性充足,但如果一家公司不能定期产生自由现金流,债务总是会让我们感到有点紧张。毫无疑问,我们从资产负债表中了解到的债务最多。但归根结底,每家公司都可能包含存在于资产负债表之外的风险。一个恰当的例子:我们发现了IRhythm Technologies的3个警告信号你应该意识到。
归根结底,关注那些没有净债务的公司往往更好。你可以访问我们的这类公司的特别名单(都有利润增长的记录)。这是免费的。
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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