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Abbisko Cayman (HKG:2256) Is In A Good Position To Deliver On Growth Plans
Abbisko Cayman (HKG:2256) Is In A Good Position To Deliver On Growth Plans
There's no doubt that money can be made by owning shares of unprofitable businesses. For example, although software-as-a-service business Salesforce.com lost money for years while it grew recurring revenue, if you held shares since 2005, you'd have done very well indeed. But the harsh reality is that very many loss making companies burn through all their cash and go bankrupt.
So should Abbisko Cayman (HKG:2256) shareholders be worried about its cash burn? In this report, we will consider the company's annual negative free cash flow, henceforth referring to it as the 'cash burn'. First, we'll determine its cash runway by comparing its cash burn with its cash reserves.
See our latest analysis for Abbisko Cayman
When Might Abbisko Cayman Run Out Of Money?
A cash runway is defined as the length of time it would take a company to run out of money if it kept spending at its current rate of cash burn. In June 2022, Abbisko Cayman had CN¥2.5b in cash, and was debt-free. Importantly, its cash burn was CN¥212m over the trailing twelve months. So it had a very long cash runway of many years from June 2022. While this is only one measure of its cash burn situation, it certainly gives us the impression that holders have nothing to worry about. Depicted below, you can see how its cash holdings have changed over time.
SEHK:2256 Debt to Equity History October 25th 2022How Is Abbisko Cayman's Cash Burn Changing Over Time?
In our view, Abbisko Cayman doesn't yet produce significant amounts of operating revenue, since it reported just CN¥23m in the last twelve months. Therefore, for the purposes of this analysis we'll focus on how the cash burn is tracking. Over the last year its cash burn actually increased by 44%, which suggests that management are increasing investment in future growth, but not too quickly. However, the company's true cash runway will therefore be shorter than suggested above, if spending continues to increase. While the past is always worth studying, it is the future that matters most of all. So you might want to take a peek at how much the company is expected to grow in the next few years.
Can Abbisko Cayman Raise More Cash Easily?
While Abbisko Cayman does have a solid cash runway, its cash burn trajectory may have some shareholders thinking ahead to when the company may need to raise more cash. Generally speaking, a listed business can raise new cash through issuing shares or taking on debt. Commonly, a business will sell new shares in itself to raise cash and drive growth. By comparing a company's annual cash burn to its total market capitalisation, we can estimate roughly how many shares it would have to issue in order to run the company for another year (at the same burn rate).
Abbisko Cayman's cash burn of CN¥212m is about 12% of its CN¥1.8b market capitalisation. Given that situation, it's fair to say the company wouldn't have much trouble raising more cash for growth, but shareholders would be somewhat diluted.
So, Should We Worry About Abbisko Cayman's Cash Burn?
It may already be apparent to you that we're relatively comfortable with the way Abbisko Cayman is burning through its cash. For example, we think its cash runway suggests that the company is on a good path. While its increasing cash burn wasn't great, the other factors mentioned in this article more than make up for weakness on that measure. Looking at all the measures in this article, together, we're not worried about its rate of cash burn; the company seems well on top of its medium-term spending needs. Taking an in-depth view of risks, we've identified 2 warning signs for Abbisko Cayman that you should be aware of before investing.
Of course Abbisko Cayman may not be the best stock to buy. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks that insiders are buying.
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.
毫无疑问,持有无利可图的企业的股票可以赚钱。例如,虽然软件即服务业务Salesforce.com在经常性收入增长的同时多年来一直亏损,但如果你从2005年开始持有股票,你确实会做得非常好。但残酷的现实是,许多亏损的公司烧光了所有的现金,破产了。
所以也应该这样阿比斯科·开曼(HKG:2256)股东担心其烧钱?在这份报告中,我们将考虑该公司的年度自由现金流为负,此后将其称为“现金消耗”。首先,我们将通过比较其现金消耗和现金储备来确定其现金跑道。
请看我们对阿比斯科·开曼的最新分析
阿比斯科·开曼的钱什么时候会用完?
现金跑道的定义是,如果一家公司继续以目前的现金消耗速度支出,它需要多长时间才能耗尽资金。2022年6月,阿比斯科·开曼拥有25亿元人民币的现金,而且没有债务。重要的是,在接下来的12个月里,它的现金消耗为2.12亿元人民币。因此,从2022年6月开始,它有一条很长的现金跑道。虽然这只是其烧钱情况的一个衡量标准,但它肯定给我们的印象是,持有者没有什么可担心的。如下所示,你可以看到它的现金持有量是如何随着时间的推移而变化的。
联交所:2256债转股历史2022年10月25日阿比斯科·开曼的烧钱是如何随着时间的推移而变化的?
在我们看来,AbBisko Cayman还没有产生可观的运营收入,因为它在过去12个月里只报告了2300万元人民币。因此,出于本分析的目的,我们将重点关注现金消耗是如何跟踪的。在过去的一年里,它的现金消耗实际上增加了44%,这表明管理层正在增加对未来增长的投资,但不是太快。然而,如果支出继续增加,该公司真正的现金跑道将因此比上面建议的要短。虽然过去总是值得研究的,但最重要的是未来。因此,你可能想看看该公司在未来几年的预期增长速度。
阿比斯科·开曼能轻松筹集更多现金吗?
虽然阿布比斯科开曼确实有一条坚实的现金跑道,但它的现金消耗轨迹可能会让一些股东提前考虑公司何时可能需要筹集更多现金。一般来说,上市企业可以通过发行股票或承担债务来筹集新的现金。通常情况下,企业会自行发售新股,以筹集现金并推动增长。通过将一家公司的年度现金消耗与其总市值进行比较,我们可以粗略地估计出它需要发行多少股票才能维持公司下一年的运营(以相同的消耗速度)。
AbBisko Cayman的现金消耗为人民币2.12亿元,约占其18亿元人民币市值的12%。在这种情况下,公平地说,该公司将不会有太多困难筹集更多现金来实现增长,但股东的股份将被稀释。
那么,我们应该担心阿比斯科·开曼的烧钱吗?
你可能已经很明显了,我们对阿比斯科·开曼烧掉现金的方式相对满意。例如,我们认为它的现金跑道表明该公司正走在一条良好的道路上。虽然它不断增加的现金消耗并不是很好,但本文提到的其他因素足以弥补这一指标的疲软。看看本文中的所有衡量标准,我们并不担心它的现金消耗率;该公司似乎很好地满足了中期支出需求。深入分析风险,我们发现阿比斯科·开曼的2个警告信号在投资之前你应该意识到这一点。
当然了阿布比斯科·开曼可能不是最值得买入的股票。所以你可能想看看这个免费拥有高股本回报率的公司的集合,或内部人士正在购买的这份股票清单。
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。
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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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