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Is Sanara MedTech (NASDAQ:SMTI) Using Too Much Debt?

Is Sanara MedTech (NASDAQ:SMTI) Using Too Much Debt?

萨纳拉医疗科技(纳斯达克股票代码:SMTI)是否使用过多的债务?
Simply Wall St ·  02/09 07:09

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says 'The biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital.' So it might be obvious that you need to consider debt, when you think about how risky any given stock is, because too much debt can sink a company. As with many other companies Sanara MedTech Inc. (NASDAQ:SMTI) makes use of debt. But the more important question is: how much risk is that debt creating?

由伯克希尔·哈撒韦公司的查理·芒格支持的外部基金经理李露对此毫不掩饰,他说:“最大的投资风险不是价格的波动,而是你是否会遭受永久的资本损失。”因此,很明显,当你考虑任何给定股票的风险时,你需要考虑债务,因为过多的债务会使公司陷入困境。与许多其他公司一样,萨纳拉医疗技术公司(纳斯达克股票代码:SMTI)也使用债务。但更重要的问题是:这笔债务会带来多大的风险?

What Risk Does Debt Bring?

债务会带来什么风险?

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. In the worst case scenario, a company can go bankrupt if it cannot pay its creditors. However, a more common (but still painful) scenario is that it has to raise new equity capital at a low price, thus permanently diluting shareholders. Of course, plenty of companies use debt to fund growth, without any negative consequences. The first thing to do when considering how much debt a business uses is to look at its cash and debt together.

当企业无法通过自由现金流或以诱人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成为风险。在最坏的情况下,如果公司无法向债权人付款,它可能会破产。但是,更常见(但仍然令人痛苦)的情况是,它必须以低廉的价格筹集新的股本,从而永久稀释股东。当然,许多公司使用债务为增长提供资金,而不会产生任何负面影响。在考虑企业使用多少债务时,要做的第一件事是同时考虑其现金和债务。

What Is Sanara MedTech's Debt?

Sanara MedTech的债务是多少?

You can click the graphic below for the historical numbers, but it shows that as of September 2023 Sanara MedTech had US$9.69m of debt, an increase on none, over one year. However, it also had US$6.24m in cash, and so its net debt is US$3.45m.

你可以点击下图查看历史数字,但它显示,截至2023年9月,萨纳拉医疗科技在一年内有969万美元的债务,比零有所增加。但是,它也有624万美元的现金,因此其净负债为345万美元。

debt-equity-history-analysis
NasdaqCM:SMTI Debt to Equity History February 9th 2024
纳斯达克股票代码:SMTI 债务与股本的比率历史记录 2024 年 2 月 9 日

A Look At Sanara MedTech's Liabilities

看看 Sanara MedTech 的负债

The latest balance sheet data shows that Sanara MedTech had liabilities of US$13.2m due within a year, and liabilities of US$18.1m falling due after that. Offsetting these obligations, it had cash of US$6.24m as well as receivables valued at US$7.50m due within 12 months. So it has liabilities totalling US$17.6m more than its cash and near-term receivables, combined.

最新的资产负债表数据显示,萨纳拉医疗科技在一年内到期的负债为1,320万美元,此后到期的负债为1,810万美元。除这些债务外,它有624万美元的现金以及价值750万美元的应收账款在12个月内到期。因此,它的负债总额比其现金和短期应收账款的总和多出1760万美元。

Of course, Sanara MedTech has a market capitalization of US$329.8m, so these liabilities are probably manageable. But there are sufficient liabilities that we would certainly recommend shareholders continue to monitor the balance sheet, going forward. But either way, Sanara MedTech has virtually no net debt, 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 it is future earnings, more than anything, that will determine Sanara MedTech's ability to maintain a healthy balance sheet going forward. So if you're focused on the future you can check out this free report showing analyst profit forecasts.

当然,萨纳拉医疗科技的市值为3.298亿美元,因此这些负债可能是可以控制的。但是,有足够的负债,我们肯定会建议股东今后继续监督资产负债表。但是无论哪种方式,Sanara MedTech几乎没有净负债,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,未来的收益将决定Sanara MedTech未来维持健康资产负债表的能力。因此,如果您专注于未来,可以查看这份显示分析师利润预测的免费报告。

Over 12 months, Sanara MedTech reported revenue of US$63m, which is a gain of 67%, although it did not report any earnings before interest and tax. With any luck the company will be able to grow its way to profitability.

在过去的12个月中,Sanara Medtech公布的收入为6300万美元,增长了67%,尽管它没有报告任何利息和税前收益。运气好的话,该公司将能够实现盈利。

Caveat Emptor

Caveat Emptor

Even though Sanara MedTech managed to grow its top line quite deftly, the cold hard truth is that it is losing money on the EBIT line. Indeed, it lost US$8.3m at the EBIT level. Considering that alongside the liabilities mentioned above does not give us much confidence that company should be using so much debt. So we think its balance sheet is a little strained, though not beyond repair. Another cause for caution is that is bled US$3.3m in negative free cash flow over the last twelve months. So to be blunt we think it is risky. The balance sheet is clearly the area to focus on when you are analysing debt. But ultimately, every company can contain risks that exist outside of the balance sheet. We've identified 1 warning sign with Sanara MedTech , and understanding them should be part of your investment process.

尽管Sanara MedTech成功地实现了收入增长,但冷酷的事实是,它在息税前利润方面正在亏损。事实上,它在息税前利润水平上损失了830万美元。考虑到除了上述负债外,我们对公司应该使用如此多的债务没有太大的信心。因此,我们认为其资产负债表有些紧张,尽管并非无法修复。另一个需要谨慎的原因是,在过去的十二个月中,自由现金流造成了330万美元的负自由现金流。因此,坦率地说,我们认为这是有风险的。资产负债表显然是分析债务时需要关注的领域。但归根结底,每家公司都可以控制资产负债表之外存在的风险。我们已经向Sanara MedTech确定了一个警告信号,我们知道它们应该是您投资过程的一部分。

At the end of the day, it's often better to focus on companies that are free from net debt. You can access our special list of such companies (all with a track record of profit growth). It's free.

归根结底,通常最好将注意力集中在没有净负债的公司身上。您可以访问我们的此类公司的特别名单(所有公司都有利润增长记录)。它是免费的。

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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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