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We Think EQRx (NASDAQ:EQRX) Can Afford To Drive Business Growth
We Think EQRx (NASDAQ:EQRX) Can Afford To Drive Business Growth
There's no doubt that money can be made by owning shares of unprofitable businesses. For example, although Amazon.com made losses for many years after listing, if you had bought and held the shares since 1999, you would have made a fortune. But while history lauds those rare successes, those that fail are often forgotten; who remembers Pets.com?
So, the natural question for EQRx (NASDAQ:EQRX) shareholders is whether they should be concerned by its rate of cash burn. For the purpose of this article, we'll define cash burn as the amount of cash the company is spending each year to fund its growth (also called its negative free cash flow). We'll start by comparing its cash burn with its cash reserves in order to calculate its cash runway.
View our latest analysis for EQRx
How Long Is EQRx's Cash Runway?
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 September 2022, EQRx had US$1.5b in cash, and was debt-free. Looking at the last year, the company burnt through US$262m. So it had a cash runway of about 5.7 years from September 2022. Even though this is but one measure of the company's cash burn, the thought of such a long cash runway warms our bellies in a comforting way. You can see how its cash balance has changed over time in the image below.
How Is EQRx's Cash Burn Changing Over Time?
Because EQRx isn't currently generating revenue, we consider it an early-stage business. Nonetheless, we can still examine its cash burn trajectory as part of our assessment of its cash burn situation. As it happens, the company's cash burn reduced by 5.2% over the last year, which suggests that management are maintaining a fairly steady rate of business development, albeit with a slight decrease in spending. 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.
How Easily Can EQRx Raise Cash?
Even though it has reduced its cash burn recently, shareholders should still consider how easy it would be for EQRx to raise more cash in the future. Generally speaking, a listed business can raise new cash through issuing shares or taking on debt. Many companies end up issuing new shares to fund future growth. By looking at a company's cash burn relative to its market capitalisation, we gain insight on how much shareholders would be diluted if the company needed to raise enough cash to cover another year's cash burn.
EQRx has a market capitalisation of US$1.2b and burnt through US$262m last year, which is 22% of the company's market value. That's fairly notable cash burn, so if the company had to sell shares to cover the cost of another year's operations, shareholders would suffer some costly dilution.
How Risky Is EQRx's Cash Burn Situation?
On this analysis of EQRx's cash burn, we think its cash runway was reassuring, while its cash burn relative to its market cap has us a bit worried. Considering all the factors discussed in this article, we're not overly concerned about the company's cash burn, although we do think shareholders should keep an eye on how it develops. On another note, EQRx has 4 warning signs (and 2 which shouldn't be ignored) we think you should know about.
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of companies insiders are buying, and this list of stocks growth stocks (according to analyst forecasts)
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.
There's no doubt that money can be made by owning shares of unprofitable businesses. For example, although Amazon.com made losses for many years after listing, if you had bought and held the shares since 1999, you would have made a fortune. But while history lauds those rare successes, those that fail are often forgotten; who remembers Pets.com?
毫无疑问,拥有无利可图的企业的股份可以赚钱。例如,尽管Amazon.com在上市后多年亏损,但如果您自1999年以来一直买入并持有股票,您本来可以发大财。但是,尽管历史称赞这些罕见的成功,但失败的成功往往被遗忘;谁还记得 Pets.com?
So, the natural question for EQRx (NASDAQ:EQRX) shareholders is whether they should be concerned by its rate of cash burn. For the purpose of this article, we'll define cash burn as the amount of cash the company is spending each year to fund its growth (also called its negative free cash flow). We'll start by comparing its cash burn with its cash reserves in order to calculate its cash runway.
所以,自然而然的问题是 eqrX 纳斯达克股票代码:EQRX)的股东们是否应该担心其现金消耗率。就本文而言,我们将现金消耗定义为公司每年为其增长提供资金所花费的现金金额(也称为负自由现金流)。首先,我们将将其现金消耗与现金储备进行比较,以计算其现金流向。
View our latest analysis for EQRx
查看我们对 eQRx 的最新分析
How Long Is EQRx's Cash Runway?
eQRx 的现金跑道有多长?
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 September 2022, EQRx had US$1.5b in cash, and was debt-free. Looking at the last year, the company burnt through US$262m. So it had a cash runway of about 5.7 years from September 2022. Even though this is but one measure of the company's cash burn, the thought of such a long cash runway warms our bellies in a comforting way. You can see how its cash balance has changed over time in the image below.
现金流失的定义是,如果公司将支出保持在目前的现金消耗率,则需要多长时间才能耗尽资金。2022年9月,eQRx拥有15亿美元的现金,并且没有债务。纵观去年,该公司耗尽了2.62亿美元。因此,从2022年9月起,它的现金流持续了大约5.7年。尽管这只是衡量公司现金消耗的一个指标,但想到这么长的现金跑道却使我们的肚子温暖得令人欣慰。您可以在下图中看到其现金余额如何随着时间的推移而变化。
How Is EQRx's Cash Burn Changing Over Time?
随着时间的推移,eQRx 的现金消耗如何变化?
Because EQRx isn't currently generating revenue, we consider it an early-stage business. Nonetheless, we can still examine its cash burn trajectory as part of our assessment of its cash burn situation. As it happens, the company's cash burn reduced by 5.2% over the last year, which suggests that management are maintaining a fairly steady rate of business development, albeit with a slight decrease in spending. 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.
由于eQRx目前没有创造收入,因此我们认为这是一项早期业务。尽管如此,我们仍然可以研究其现金消耗轨迹,这是我们评估其现金消耗状况的一部分。碰巧的是,该公司的现金消耗比去年减少了5.2%,这表明尽管支出略有下降,但管理层仍在保持相当稳定的业务发展速度。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预计将增长多少。
How Easily Can EQRx Raise Cash?
eQRx 如何轻松筹集现金?
Even though it has reduced its cash burn recently, shareholders should still consider how easy it would be for EQRx to raise more cash in the future. Generally speaking, a listed business can raise new cash through issuing shares or taking on debt. Many companies end up issuing new shares to fund future growth. By looking at a company's cash burn relative to its market capitalisation, we gain insight on how much shareholders would be diluted if the company needed to raise enough cash to cover another year's cash burn.
尽管最近减少了现金消耗,但股东们仍应考虑eQRx在未来筹集更多现金会有多容易。一般而言,上市企业可以通过发行股票或承担债务来筹集新的现金。许多公司最终发行新股为未来的增长提供资金。通过研究一家公司的现金消耗与其市值的关系,我们可以深入了解如果公司需要筹集足够的现金来弥补下一年的现金消耗,股东会被稀释多少。
EQRx has a market capitalisation of US$1.2b and burnt through US$262m last year, which is 22% of the company's market value. That's fairly notable cash burn, so if the company had to sell shares to cover the cost of another year's operations, shareholders would suffer some costly dilution.
eQRx的市值为12亿美元,去年突破了2.62亿美元,占该公司市值的22%。这是相当明显的现金消耗,因此,如果公司不得不出售股票来支付另一年的运营成本,股东将遭受代价高昂的稀释。
How Risky Is EQRx's Cash Burn Situation?
eQRx 的现金消耗情况有多危险?
On this analysis of EQRx's cash burn, we think its cash runway was reassuring, while its cash burn relative to its market cap has us a bit worried. Considering all the factors discussed in this article, we're not overly concerned about the company's cash burn, although we do think shareholders should keep an eye on how it develops. On another note, EQRx has 4 warning signs (and 2 which shouldn't be ignored) we think you should know about.
通过对eQRx现金消耗的分析,我们认为其现金流令人放心,而相对于市值的现金消耗,我们有点担心。考虑到本文中讨论的所有因素,我们并不过分担心公司的现金消耗,尽管我们确实认为股东应该关注公司的发展情况。另一方面,eQRx 有 4 个警告标志 (以及 2 个不容忽视)我们认为你应该知道。
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of companies insiders are buying, and this list of stocks growth stocks (according to analyst forecasts)
当然, 你可能会在其他地方找到一笔不错的投资。 所以来看看这个 免费的 内部人士正在买入的公司名单,以及这份成长型股票清单(根据分析师的预测)
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.
对这篇文章有反馈吗?对内容感到担忧? 取得联系 直接和我们联系。 或者,给编辑团队 (at) simplywallst.com 发送电子邮件。
Simply Wall St 的这篇文章本质上是一般性的。 我们仅使用不偏不倚的方法根据历史数据和分析师预测提供评论,我们的文章并非旨在提供财务建议。 它不构成买入或卖出任何股票的建议,也没有考虑您的目标或财务状况。我们的目标是为您提供由基本面数据驱动的长期重点分析。请注意,我们的分析可能未将最新的价格敏感型公司公告或定性材料考虑在内。简而言之,华尔街对上述任何股票都没有头寸。
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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。
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