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Sinomine Resource Group (SZSE:002738) Could Easily Take On More Debt
Sinomine Resource Group (SZSE:002738) Could Easily Take On More Debt
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously said that 'Volatility is far from synonymous with risk.' So it seems the smart money knows that debt - which is usually involved in bankruptcies - is a very important factor, when you assess how risky a company is. As with many other companies Sinomine Resource Group Co., Ltd. (SZSE:002738) makes use of debt. But the more important question is: how much risk is that debt creating?
Why Does Debt Bring Risk?
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. 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. 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. The first thing to do when considering how much debt a business uses is to look at its cash and debt together.
See our latest analysis for Sinomine Resource Group
What Is Sinomine Resource Group's Net Debt?
You can click the graphic below for the historical numbers, but it shows that as of June 2022 Sinomine Resource Group had CN¥2.19b of debt, an increase on CN¥914.2m, over one year. However, it does have CN¥2.31b in cash offsetting this, leading to net cash of CN¥118.5m.
SZSE:002738 Debt to Equity History August 26th 2022How Strong Is Sinomine Resource Group's Balance Sheet?
The latest balance sheet data shows that Sinomine Resource Group had liabilities of CN¥1.88b due within a year, and liabilities of CN¥1.77b falling due after that. Offsetting these obligations, it had cash of CN¥2.31b as well as receivables valued at CN¥754.9m due within 12 months. So its liabilities outweigh the sum of its cash and (near-term) receivables by CN¥589.8m.
This state of affairs indicates that Sinomine Resource Group's balance sheet looks quite solid, as its total liabilities are just about equal to its liquid assets. So while it's hard to imagine that the CN¥41.9b company is struggling for cash, we still think it's worth monitoring its balance sheet. While it does have liabilities worth noting, Sinomine Resource Group also has more cash than debt, so we're pretty confident it can manage its debt safely.
Better yet, Sinomine Resource Group grew its EBIT by 509% last year, which is an impressive improvement. That boost will make it even easier to pay down debt going forward. When analysing debt levels, the balance sheet is the obvious place to start. But it is future earnings, more than anything, that will determine Sinomine Resource Group'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.
Finally, a company can only pay off debt with cold hard cash, not accounting profits. Sinomine Resource Group may have net cash on the balance sheet, but it is still interesting to look at how well the business converts its earnings before interest and tax (EBIT) to free cash flow, because that will influence both its need for, and its capacity to manage debt. Looking at the most recent three years, Sinomine Resource Group recorded free cash flow of 39% of its EBIT, which is weaker than we'd expect. That's not great, when it comes to paying down debt.
Summing Up
We could understand if investors are concerned about Sinomine Resource Group's liabilities, but we can be reassured by the fact it has has net cash of CN¥118.5m. And it impressed us with its EBIT growth of 509% over the last year. So is Sinomine Resource Group's debt a risk? It doesn't seem so to us. The balance sheet is clearly the area to focus on when you are analysing debt. However, not all investment risk resides within the balance sheet - far from it. For example - Sinomine Resource Group has 1 warning sign we think you should be aware of.
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.
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.
一些人説,作為投資者,考慮風險的最佳方式是波動性,而不是債務,但巴菲特曾説過一句名言:波動性遠非風險的同義詞。因此,當你評估一家公司的風險有多大時,聰明的投資者似乎知道債務--通常涉及破產--是一個非常重要的因素。與許多其他公司一樣中礦資源集團有限公司。(SZSE:002738)利用債務。但更重要的問題是:這筆債務造成了多大的風險?
為什麼債務會帶來風險?
一般來説,只有當一家公司無法輕鬆償還債務時,債務才會成為一個真正的問題,無論是通過籌集資金還是用自己的現金流。資本主義的一部分是“創造性破壞”的過程,破產的企業被銀行家無情地清算。然而,更常見(但代價仍然高昂)的情況是,一家公司必須以極低的價格發行股票,永久性地稀釋股東的股份,只是為了支撐其資產負債表。當然,債務的好處是,它往往代表着廉價資本,特別是當它用能夠以高回報率進行再投資的能力取代公司的稀釋時。當考慮一家企業使用了多少債務時,首先要做的是把現金和債務放在一起看。
查看我們對Sinomine資源集團的最新分析
國礦資源集團的淨負債是多少?
你可以點擊下圖查看歷史數字,但它顯示,截至2022年6月,中礦資源集團的債務為21.9億元人民幣,比一年前增加了9.142億元人民幣。然而,它確實有23.1億加元的現金抵消了這一點,導致淨現金為1.185億加元。
深圳證交所:002738債轉股歷史2022年8月26日國美資源集團的資產負債表有多強?
最新的資產負債表數據顯示,中礦資源集團有18.8億元的負債在一年內到期,17.7億元的負債在一年內到期。為了抵消這些債務,該公司有23.1億加元的現金和7.549億加元的應收賬款在12個月內到期。因此,它的負債超過了現金和(近期)應收賬款的總和5.898億元。
這種情況表明,國美資源集團的資產負債表看起來相當穩健,其總負債與流動資產大致相當。因此,儘管很難想象這家419億元人民幣的公司正在為現金而苦苦掙扎,但我們仍然認為值得監控其資產負債表。雖然國美資源集團確實有值得注意的負債,但它的現金也多於債務,因此我們非常有信心它能夠安全地管理其債務。
更好的是,國美資源集團去年息税前利潤增長了509%,這是一個令人印象深刻的進步。這一提振將使未來償還債務變得更加容易。在分析債務水平時,資產負債表顯然是一個起點。但決定國美資源集團未來能否保持健康資產負債表的,最重要的是未來的收益。所以,如果你關注未來,你可以看看這個免費顯示分析師利潤預測的報告。
最後,一家公司只能用冷硬現金償還債務,而不是會計利潤。國美資源集團的資產負債表上可能有淨現金,但看看該業務將息税前利潤(EBIT)轉換為自由現金流的情況仍很有趣,因為這將影響其對債務的需求和管理債務的能力。縱觀最近三年,國美資源集團的自由現金流佔其息税前利潤的39%,這一數字低於我們的預期。當涉及到償還債務時,這並不是很好。
總結
如果投資者擔心國美資源集團的負債,我們可以理解,但我們可以放心的是,該集團擁有1.185億元人民幣的淨現金。去年息税前利潤509%的增長給我們留下了深刻的印象。那麼,國美資源集團的債務是一種風險嗎?但在我們看來並非如此。當你分析債務時,資產負債表顯然是你關注的領域。然而,並非所有投資風險都存在於資產負債表中--遠非如此。例如-Sinomine資源集團擁有1個警告標誌我們認為你應該意識到。
總而言之,有時候專注於甚至不需要債務的公司會更容易。讀者可以訪問淨債務為零的成長型股票列表100%免費,現在。
對這篇文章有什麼反饋嗎?擔心內容嗎? 保持聯繫直接與我們聯繫。或者,也可以給編輯組發電子郵件,地址是implywallst.com。
本文由Simply Wall St.撰寫,具有概括性。我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論,我們的文章並不打算作為財務建議。它不構成買賣任何股票的建議,也沒有考慮你的目標或你的財務狀況。我們的目標是為您帶來由基本面數據驅動的長期重點分析。請注意,我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內。Simply Wall St.對上述任何一隻股票都沒有持倉。
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moomoo是Moomoo Technologies Inc.公司提供的金融資訊和交易應用程式。
在美國,moomoo上的投資產品和服務由Moomoo Financial Inc.提供,一家受美國證券交易委員會(SEC)監管的持牌主體。 Moomoo Financial Inc.是金融業監管局(FINRA)和證券投資者保護公司(SIPC)的成員。
在新加坡,moomoo上的投資產品和服務是通過Moomoo Financial Singapore Pte. Ltd.提供,該公司受新加坡金融管理局(MAS)監管(牌照號碼︰CMS101000) ,持有資本市場服務牌照 (CMS) ,持有財務顧問豁免(Exempt Financial Adviser)資質。本內容未經新加坡金融管理局的審查。
在澳大利亞,moomoo上的金融產品和服務是通過Futu Securities (Australia) Ltd提供,該公司是受澳大利亞證券和投資委員會(ASIC)監管的澳大利亞金融服務許可機構(AFSL No. 224663)。請閱讀並理解我們的《金融服務指南》、《條款與條件》、《隱私政策》和其他披露文件,這些文件可在我們的網站 https://www.moomoo.com/au中獲取。
在加拿大,透過moomoo應用程式提供的僅限訂單執行的券商服務由Moomoo Financial Canada Inc.提供,並受加拿大投資監管機構(CIRO)監管。
在馬來西亞,moomoo上的投資產品和服務是透過Moomoo Securities Malaysia Sdn. Bhd. 提供,該公司受馬來西亞證券監督委員會(SC)監管(牌照號碼︰eCMSL/A0397/2024) ,持有資本市場服務牌照 (CMSL) 。本內容未經馬來西亞證券監督委員會的審查。
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., 是關聯公司。
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