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Is Jilin Zixin Pharmaceutical IndustrialLtd (SZSE:002118) A Risky Investment?
Is Jilin Zixin Pharmaceutical IndustrialLtd (SZSE:002118) A Risky Investment?
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.' When we think about how risky a company is, we always like to look at its use of debt, since debt overload can lead to ruin. We note that Jilin Zixin Pharmaceutical Industrial Co.,Ltd. (SZSE:002118) does have debt on its balance sheet. But is this debt a concern to shareholders?
When Is Debt Dangerous?
Debt is a tool to help businesses grow, but if a business is incapable of paying off its lenders, then it exists at their mercy. Ultimately, if the company can't fulfill its legal obligations to repay debt, shareholders could walk away with nothing. While that is not too common, we often do see indebted companies permanently diluting shareholders because lenders force them to raise capital at a distressed price. Of course, the upside of debt is that it often represents cheap capital, especially when it replaces dilution in a company with the ability to reinvest at high rates of return. When we think about a company's use of debt, we first look at cash and debt together.
See our latest analysis for Jilin Zixin Pharmaceutical IndustrialLtd
What Is Jilin Zixin Pharmaceutical IndustrialLtd's Debt?
As you can see below, Jilin Zixin Pharmaceutical IndustrialLtd had CN¥6.18b of debt, at September 2022, which is about the same as the year before. You can click the chart for greater detail. Net debt is about the same, since the it doesn't have much cash.
SZSE:002118 Debt to Equity History December 14th 2022A Look At Jilin Zixin Pharmaceutical IndustrialLtd's Liabilities
Zooming in on the latest balance sheet data, we can see that Jilin Zixin Pharmaceutical IndustrialLtd had liabilities of CN¥6.92b due within 12 months and liabilities of CN¥1.46b due beyond that. On the other hand, it had cash of CN¥9.40m and CN¥718.4m worth of receivables due within a year. So it has liabilities totalling CN¥7.65b more than its cash and near-term receivables, combined.
This deficit casts a shadow over the CN¥3.70b company, like a colossus towering over mere mortals. So we definitely think shareholders need to watch this one closely. At the end of the day, Jilin Zixin Pharmaceutical IndustrialLtd would probably need a major re-capitalization if its creditors were to demand repayment. There's no doubt that we learn most about debt from the balance sheet. But you can't view debt in total isolation; since Jilin Zixin Pharmaceutical IndustrialLtd will need earnings to service that debt. So when considering debt, it's definitely worth looking at the earnings trend. Click here for an interactive snapshot.
Over 12 months, Jilin Zixin Pharmaceutical IndustrialLtd made a loss at the EBIT level, and saw its revenue drop to CN¥145m, which is a fall of 42%. To be frank that doesn't bode well.
Caveat Emptor
Not only did Jilin Zixin Pharmaceutical IndustrialLtd's revenue slip over the last twelve months, but it also produced negative earnings before interest and tax (EBIT). Indeed, it lost a very considerable CN¥584m at the EBIT level. Considering that alongside the liabilities mentioned above make us nervous about the company. We'd want to see some strong near-term improvements before getting too interested in the stock. Not least because it had negative free cash flow of CN¥211m over the last twelve months. So suffice it to say we consider the stock to be risky. 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 Jilin Zixin Pharmaceutical IndustrialLtd you should be aware of, and 2 of them are a bit unpleasant.
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.
David·伊本说得好,波动不是我们关心的风险,我们关心的是避免资本的永久性损失。当我们考虑一家公司的风险有多大时,我们总是喜欢看它对债务的使用,因为债务过重可能导致破产。我们注意到吉林紫鑫医药实业有限公司。(SZSE:002118)的资产负债表上确实有债务。但这笔债务对股东来说是一个担忧吗?
债务在什么时候是危险的?
债务是帮助企业发展的一种工具,但如果一家企业无法偿还贷款人的债务,那么它就只能听从贷款人的摆布。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。尽管这并不常见,但我们确实经常看到负债累累的公司永久性地稀释股东的权益,因为贷款人迫使他们以令人沮丧的价格筹集资金。当然,债务的好处是,它往往代表着廉价资本,特别是当它用能够以高回报率进行再投资的能力取代公司的稀释时。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。
查看我们对吉林紫鑫药业有限公司的最新分析
吉林紫鑫药业的债务是什么?
如下所示,截至2022年9月,吉林紫鑫医药工业有限公司的债务为61.8亿元,与前一年大致相同。您可以单击图表查看更多详细信息。净债务大致相同,因为它没有太多现金。
深交所:002118债转股历史2022年12月14日吉林紫鑫药业有限公司的负债问题
放大最新的资产负债表数据可以看到,吉林紫鑫药业有限公司有69.2亿加元的负债在12个月内到期,还有14.6亿加元的负债在12个月内到期。另一方面,它有940万加元的现金和7.184亿加元的应收账款在一年内到期。因此,它的负债总额为人民币76.5亿元,比现金和近期应收账款加起来还要多。
这一赤字给这家37亿元人民币的公司蒙上了一层阴影,就像一个庞然大物耸立在凡人之上。因此,我们肯定认为股东需要密切关注这一事件。归根结底,如果债权人要求偿还,吉林紫鑫药业有限公司可能需要进行重大资本重组。毫无疑问,我们从资产负债表中了解到的债务最多。但你不能完全孤立地看待债务,因为吉林紫鑫药业有限公司需要盈利来偿还债务。因此,当考虑债务时,绝对值得关注收益趋势。点击此处查看互动快照。
在过去的12个月里,吉林紫鑫医药工业有限公司息税前利润出现亏损,收入下降至1.45亿加元,降幅为42%。坦率地说,这不是一个好兆头。
告诫买入者
吉林紫鑫医药工业有限公司不仅在过去12个月中收入下滑,而且息税前收益(EBIT)也为负。事实上,在息税前利润水平上,它损失了非常可观的5.84亿元人民币。考虑到上面提到的债务,让我们对公司感到紧张。在对这只股票产生太大兴趣之前,我们希望看到一些强劲的短期改善。尤其是因为它在过去12个月中的自由现金流为负2.11亿加元。因此,可以说,我们认为这只股票是有风险的。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:我们发现了吉林紫鑫药业有限公司的3个警示标志你应该知道,其中两个有点令人不快。
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。
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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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