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Is Talkweb Information SystemLtd (SZSE:002261) Weighed On By Its Debt Load?

Is Talkweb Information SystemLtd (SZSE:002261) Weighed On By Its Debt Load?

Talkweb Information SystemLtd(深圳证券交易所:002261)是否受到债务负担的压力?
Simply Wall St ·  2023/11/13 22:58

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 can see that Talkweb Information System Co.,Ltd. (SZSE:002261) does use debt in its business. But is this debt a concern to shareholders?

沃伦·巴菲特曾说过一句名言:“波动性远非风险的代名词。”当我们考虑一家公司的风险时,我们总是喜欢看它对债务的使用,因为债务超负荷可能导致破产。我们可以看出 Talkweb 信息系统有限公司, Ltd.(SZSE:002261)确实在其业务中使用了债务。但是这笔债务是股东关心的问题吗?

When Is Debt A Problem?

债务何时会成为问题?

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. Part and parcel of capitalism is the process of 'creative destruction' where failed businesses are mercilessly liquidated by their bankers. 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 examine debt levels, we first consider both cash and debt levels, together.

当企业无法通过自由现金流或以有吸引力的价格筹集资金来轻松履行这些义务时,债务和其他负债就会变得有风险。资本主义的重要组成部分是 “创造性破坏” 的过程,在这个过程中,银行家无情地清算倒闭的企业。但是,更常见(但成本仍然很高)的情况是,公司必须以低廉的价格发行股票,永久稀释股东,只是为了支撑其资产负债表。但是,通过取代稀释,对于需要资本以高回报率投资增长的企业来说,债务可能是一个非常好的工具。当我们研究债务水平时,我们首先将现金和债务水平放在一起考虑。

Check out our latest analysis for Talkweb Information SystemLtd

查看我们对 Talkweb Information SystemLtd 的最新分析

What Is Talkweb Information SystemLtd's Debt?

Talkweb Information SystemLtd 的债务是什么?

The image below, which you can click on for greater detail, shows that at September 2023 Talkweb Information SystemLtd had debt of CN¥1.21b, up from CN¥337.1m in one year. However, it does have CN¥1.21b in cash offsetting this, leading to net cash of CN¥3.40m.

下图显示截至2023年9月,Talkweb Information SystemLtd的债务为12.1亿元人民币,高于一年的3.371亿元人民币,你可以点击下图了解更多详情。但是,它确实有12.1亿元人民币的现金抵消了这一点,净现金为340万元人民币。

debt-equity-history-analysis
SZSE:002261 Debt to Equity History November 14th 2023
深圳证券交易所:002261 债权与股权历史记录 2023 年 11 月 14 日

How Healthy Is Talkweb Information SystemLtd's Balance Sheet?

Talkweb Information SystemLtd 的资产负债表有多健康?

Zooming in on the latest balance sheet data, we can see that Talkweb Information SystemLtd had liabilities of CN¥1.51b due within 12 months and liabilities of CN¥429.7m due beyond that. On the other hand, it had cash of CN¥1.21b and CN¥803.0m worth of receivables due within a year. So it can boast CN¥76.0m more liquid assets than total liabilities.

纵观最新的资产负债表数据,我们可以看到,Talkweb Information SystemLtd在12个月内到期的负债为151亿元人民币,此后到期的负债为4.297亿元人民币。另一方面,它在一年内有12.1亿元人民币的现金和价值8.030亿元人民币的应收账款。因此,它的流动资产可以比之多出7,600万元人民币 负债。

Having regard to Talkweb Information SystemLtd's size, it seems that its liquid assets are well balanced with its total liabilities. So while it's hard to imagine that the CN¥21.5b company is struggling for cash, we still think it's worth monitoring its balance sheet. Succinctly put, Talkweb Information SystemLtd boasts net cash, so it's fair to say it does not have a heavy debt load! There's no doubt that we learn most about debt from the balance sheet. But you can't view debt in total isolation; since Talkweb Information SystemLtd will need earnings to service that debt. 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.

考虑到Talkweb Information SystemLtd的规模,其流动资产与总负债似乎非常平衡。因此,尽管很难想象这家215亿元人民币的公司正在为现金而苦苦挣扎,但我们仍然认为值得监控其资产负债表。简而言之,Talkweb Information SystemLtd拥有净现金,因此可以公平地说,它没有沉重的债务负担!毫无疑问,我们从资产负债表中学到的关于债务的知识最多。但是你不能完全孤立地看待债务;因为Talkweb Information SystemLtd需要收入来偿还这笔债务。因此,如果你想进一步了解其收益,可能值得看看这张长期收益趋势图。

In the last year Talkweb Information SystemLtd's revenue was pretty flat, and it made a negative EBIT. While that's not too bad, we'd prefer see growth.

去年,Talkweb Information SystemLtd的收入相当持平,息税前利润为负。虽然这还不错,但我们更希望看到增长。

So How Risky Is Talkweb Information SystemLtd?

那么 Talkweb 信息系统有限公司的风险有多大?

We have no doubt that loss making companies are, in general, riskier than profitable ones. And in the last year Talkweb Information SystemLtd had an earnings before interest and tax (EBIT) loss, truth be told. Indeed, in that time it burnt through CN¥782m of cash and made a loss of CN¥1.0b. Given it only has net cash of CN¥3.40m, the company may need to raise more capital if it doesn't reach break-even soon. 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. However, not all investment risk resides within the balance sheet - far from it. Be aware that Talkweb Information SystemLtd is showing 1 warning sign in our investment analysis , you should know about...

我们毫不怀疑,总体而言,亏损公司比盈利公司的风险更大。说实话,去年Talkweb Information SystemLtd出现了息税前收益(EBIT)亏损。事实上,在那段时间里,它耗尽了7.82亿元人民币的现金,亏损了10亿元人民币。鉴于该公司只有340万元人民币的净现金,如果不能很快达到收支平衡,则可能需要筹集更多资金。尽管其资产负债表似乎具有足够的流动性,但如果一家公司不定期产生自由现金流,债务总是会让我们有些紧张。毫无疑问,我们从资产负债表中学到的关于债务的知识最多。但是,并非所有的投资风险都存在于资产负债表中——远非如此。请注意,Talkweb Information SystemLtd在我们的投资分析中显示了1个警告信号,你应该知道...

When all is said and done, sometimes its easier to focus on companies that don't even need debt. Readers can access a list of growth stocks with zero net debt 100% free, right now.

当一切都说完之后,有时更容易将注意力集中在甚至不需要债务的公司上。读者现在可以100%免费访问净负债为零的成长型股票清单。

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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.

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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。

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