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Abbisko Cayman (HKG:2256) Is In A Good Position To Deliver On Growth Plans
Abbisko Cayman (HKG:2256) Is In A Good Position To Deliver On Growth Plans
There's no doubt that money can be made by owning shares of unprofitable businesses. For example, although software-as-a-service business Salesforce.com lost money for years while it grew recurring revenue, if you held shares since 2005, you'd have done very well indeed. But the harsh reality is that very many loss making companies burn through all their cash and go bankrupt.
So should Abbisko Cayman (HKG:2256) shareholders be worried about its cash burn? In this report, we will consider the company's annual negative free cash flow, henceforth referring to it as the 'cash burn'. First, we'll determine its cash runway by comparing its cash burn with its cash reserves.
See our latest analysis for Abbisko Cayman
When Might Abbisko Cayman Run Out Of Money?
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 June 2022, Abbisko Cayman had CN¥2.5b in cash, and was debt-free. Importantly, its cash burn was CN¥212m over the trailing twelve months. So it had a very long cash runway of many years from June 2022. While this is only one measure of its cash burn situation, it certainly gives us the impression that holders have nothing to worry about. Depicted below, you can see how its cash holdings have changed over time.
SEHK:2256 Debt to Equity History October 25th 2022How Is Abbisko Cayman's Cash Burn Changing Over Time?
In our view, Abbisko Cayman doesn't yet produce significant amounts of operating revenue, since it reported just CN¥23m in the last twelve months. Therefore, for the purposes of this analysis we'll focus on how the cash burn is tracking. Over the last year its cash burn actually increased by 44%, which suggests that management are increasing investment in future growth, but not too quickly. However, the company's true cash runway will therefore be shorter than suggested above, if spending continues to increase. 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.
Can Abbisko Cayman Raise More Cash Easily?
While Abbisko Cayman does have a solid cash runway, its cash burn trajectory may have some shareholders thinking ahead to when the company may need to raise more cash. Generally speaking, a listed business can raise new cash through issuing shares or taking on debt. Commonly, a business will sell new shares in itself to raise cash and drive growth. By comparing a company's annual cash burn to its total market capitalisation, we can estimate roughly how many shares it would have to issue in order to run the company for another year (at the same burn rate).
Abbisko Cayman's cash burn of CN¥212m is about 12% of its CN¥1.8b market capitalisation. Given that situation, it's fair to say the company wouldn't have much trouble raising more cash for growth, but shareholders would be somewhat diluted.
So, Should We Worry About Abbisko Cayman's Cash Burn?
It may already be apparent to you that we're relatively comfortable with the way Abbisko Cayman is burning through its cash. For example, we think its cash runway suggests that the company is on a good path. While its increasing cash burn wasn't great, the other factors mentioned in this article more than make up for weakness on that measure. Looking at all the measures in this article, together, we're not worried about its rate of cash burn; the company seems well on top of its medium-term spending needs. Taking an in-depth view of risks, we've identified 2 warning signs for Abbisko Cayman that you should be aware of before investing.
Of course Abbisko Cayman may not be the best stock to buy. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks that insiders are buying.
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.
毫無疑問,持有無利可圖的企業的股票可以賺錢。例如,雖然軟件即服務業務Salesforce.com在經常性收入增長的同時多年來一直虧損,但如果你從2005年開始持有股票,你確實會做得非常好。但殘酷的現實是,許多虧損的公司燒光了所有的現金,破產了。
所以也應該這樣阿比斯科·開曼(HKG:2256)股東擔心其燒錢?在這份報告中,我們將考慮該公司的年度自由現金流為負,此後將其稱為“現金消耗”。首先,我們將通過比較其現金消耗和現金儲備來確定其現金跑道。
請看我們對阿比斯科·開曼的最新分析
阿比斯科·開曼的錢什麼時候會用完?
現金跑道的定義是,如果一家公司繼續以目前的現金消耗速度支出,它需要多長時間才能耗盡資金。2022年6月,阿比斯科·開曼擁有25億元人民幣的現金,而且沒有債務。重要的是,在接下來的12個月裏,它的現金消耗為2.12億元人民幣。因此,從2022年6月開始,它有一條很長的現金跑道。雖然這只是其燒錢情況的一個衡量標準,但它肯定給我們的印象是,持有者沒有什麼可擔心的。如下所示,你可以看到它的現金持有量是如何隨着時間的推移而變化的。
聯交所:2256債轉股歷史2022年10月25日阿比斯科·開曼的燒錢是如何隨着時間的推移而變化的?
在我們看來,AbBisko Cayman還沒有產生可觀的運營收入,因為它在過去12個月裏只報告了2300萬元人民幣。因此,出於本分析的目的,我們將重點關注現金消耗是如何跟蹤的。在過去的一年裏,它的現金消耗實際上增加了44%,這表明管理層正在增加對未來增長的投資,但不是太快。然而,如果支出繼續增加,該公司真正的現金跑道將因此比上面建議的要短。雖然過去總是值得研究的,但最重要的是未來。因此,你可能想看看該公司在未來幾年的預期增長速度。
阿比斯科·開曼能輕鬆籌集更多現金嗎?
雖然阿布比斯科開曼確實有一條堅實的現金跑道,但它的現金消耗軌跡可能會讓一些股東提前考慮公司何時可能需要籌集更多現金。一般來説,上市企業可以通過發行股票或承擔債務來籌集新的現金。通常情況下,企業會自行發售新股,以籌集現金並推動增長。通過將一家公司的年度現金消耗與其總市值進行比較,我們可以粗略地估計出它需要發行多少股票才能維持公司下一年的運營(以相同的消耗速度)。
AbBisko Cayman的現金消耗為人民幣2.12億元,約佔其18億元人民幣市值的12%。在這種情況下,公平地説,該公司將不會有太多困難籌集更多現金來實現增長,但股東的股份將被稀釋。
那麼,我們應該擔心阿比斯科·開曼的燒錢嗎?
你可能已經很明顯了,我們對阿比斯科·開曼燒掉現金的方式相對滿意。例如,我們認為它的現金跑道表明該公司正走在一條良好的道路上。雖然它不斷增加的現金消耗並不是很好,但本文提到的其他因素足以彌補這一指標的疲軟。看看本文中的所有衡量標準,我們並不擔心它的現金消耗率;該公司似乎很好地滿足了中期支出需求。深入分析風險,我們發現阿比斯科·開曼的2個警告信號在投資之前你應該意識到這一點。
當然了阿布比斯科·開曼可能不是最值得買入的股票。所以你可能想看看這個免費擁有高股本回報率的公司的集合,或內部人士正在購買的這份股票清單。
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 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。
風險及免責聲明
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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