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Is Dalian My Gym Education TechnologyLtd (SZSE:002621) Using Too Much Debt?
Is Dalian My Gym Education TechnologyLtd (SZSE:002621) Using Too Much Debt?
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' 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 Dalian My Gym Education Technology Co.,Ltd. (SZSE:002621) does have debt on its balance sheet. But is this debt a concern to shareholders?
When Is Debt Dangerous?
Generally speaking, debt only becomes a real problem when a company can't easily pay it off, either by raising capital or with its own cash flow. 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. By replacing dilution, though, debt can be an extremely good tool for businesses that need capital to invest in growth at high rates of return. When we think about a company's use of debt, we first look at cash and debt together.
Check out our latest analysis for Dalian My Gym Education TechnologyLtd
What Is Dalian My Gym Education TechnologyLtd's Debt?
The chart below, which you can click on for greater detail, shows that Dalian My Gym Education TechnologyLtd had CN¥309.1m in debt in September 2022; about the same as the year before. But on the other hand it also has CN¥960.5m in cash, leading to a CN¥651.4m net cash position.
SZSE:002621 Debt to Equity History December 15th 2022A Look At Dalian My Gym Education TechnologyLtd's Liabilities
According to the last reported balance sheet, Dalian My Gym Education TechnologyLtd had liabilities of CN¥943.5m due within 12 months, and liabilities of CN¥416.1m due beyond 12 months. Offsetting this, it had CN¥960.5m in cash and CN¥236.9m in receivables that were due within 12 months. So it has liabilities totalling CN¥162.2m more than its cash and near-term receivables, combined.
Given Dalian My Gym Education TechnologyLtd has a market capitalization of CN¥3.91b, it's hard to believe these liabilities pose much threat. Having said that, it's clear that we should continue to monitor its balance sheet, lest it change for the worse. While it does have liabilities worth noting, Dalian My Gym Education TechnologyLtd also has more cash than debt, so we're pretty confident it can manage its debt safely. There's no doubt that we learn most about debt from the balance sheet. But it is Dalian My Gym Education TechnologyLtd's earnings that will influence how the balance sheet holds up in the future. So if you're keen to discover more about its earnings, it might be worth checking out this graph of its long term earnings trend.
Over 12 months, Dalian My Gym Education TechnologyLtd made a loss at the EBIT level, and saw its revenue drop to CN¥202m, which is a fall of 42%. To be frank that doesn't bode well.
So How Risky Is Dalian My Gym Education TechnologyLtd?
We have no doubt that loss making companies are, in general, riskier than profitable ones. And we do note that Dalian My Gym Education TechnologyLtd had an earnings before interest and tax (EBIT) loss, over the last year. Indeed, in that time it burnt through CN¥19m of cash and made a loss of CN¥316m. With only CN¥651.4m on the balance sheet, it would appear that its going to need to raise capital again soon. Summing up, we're a little skeptical of this one, as it seems fairly risky in the absence of free cashflow. There's no doubt that we learn most about debt from the balance sheet. However, not all investment risk resides within the balance sheet - far from it. Be aware that Dalian My Gym Education TechnologyLtd is showing 2 warning signs in our investment analysis , and 1 of those is a bit unpleasant...
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.
巴菲特(Warren Buffett)曾说过一句名言:波动性远非风险的代名词。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。我们注意到大连我的健身房教育科技有限公司(SZSE:002621)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?
一般来说,只有当一家公司无法轻松偿还债务时,债务才会成为一个真正的问题,无论是通过筹集资金还是用自己的现金流。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。然而,通过取代稀释,对于需要资本投资于高回报率增长的企业来说,债务可以成为一个非常好的工具。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。
查看我们对大连我的健身房教育科技有限公司的最新分析
大连我的健身房教育科技有限公司的债务是什么?
下面的图表,你可以点击查看更多细节,显示大连我的健身房教育科技有限公司在2022年9月负债3.091亿元人民币,与前一年大致相同。但另一方面,它也有9.605亿新元的现金,导致6.514亿新元的净现金头寸。
深交所:002621债转股历史2022年12月15日大连我的健身房教育科技有限公司的负债问题
根据最新报告的资产负债表,大连我的健身房教育科技有限公司有9.435亿加元的负债在12个月内到期,4.161亿加元的负债在12个月后到期。作为抵消,它有9.605亿加元的现金和2.369亿加元的应收账款在12个月内到期。因此,它的负债总额比现金和近期应收账款加起来还要多1.622亿元。
鉴于大连我的健身房教育科技有限公司的市值为39.1亿元人民币,很难相信这些债务会构成如此大的威胁。话虽如此,很明显,我们应该继续监控它的资产负债表,以免它变得更糟。虽然大连我的健身房教育科技有限公司确实有值得注意的负债,但它的现金也多于债务,所以我们非常有信心它能够安全地管理债务。毫无疑问,我们从资产负债表中了解到的债务最多。但大连我的健身房教育科技有限公司的收益将影响未来资产负债表的表现。因此,如果你热衷于了解更多关于它的收益,可能值得查看一下它的长期收益趋势图。
12个月来,大连我的健身房教育科技有限公司息税前利润出现亏损,收入下降至2.02亿元,降幅为42%。坦率地说,这不是一个好兆头。
那么,大连我的健身房教育科技有限公司的风险有多大?
我们毫不怀疑,总的来说,亏损公司比盈利公司风险更大。我们确实注意到,大连我的健身房教育科技有限公司在过去一年中出现了息税前收益(EBIT)亏损。事实上,在此期间,它烧掉了1900万元人民币的现金,亏损了3.16亿元人民币。在资产负债表上只有6.514亿加元的情况下,它似乎很快就需要再次筹集资金。总而言之,我们对这一点持怀疑态度,因为在没有自由现金流的情况下,它似乎有相当大的风险。毫无疑问,我们从资产负债表中了解到的债务最多。然而,并非所有投资风险都存在于资产负债表中--远非如此。请注意,大连我的健身房教育科技有限公司正在展示我们的投资分析中的2个警告信号,其中一条有点令人不快...
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。
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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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