What Does British American Tobacco's Debt Look Like?
What Does British American Tobacco's Debt Look Like?
Over the past three months, shares of British American Tobacco Inc. (NYSE:BTI) decreased by 7.72%. When understanding a companies price change over a time period like 3 months, it could be helpful to look at its financials. One key aspect of a companies financials is its debt, but before we understand the importance of debt, let's look at how much debt British American Tobacco has.
在過去三個月，英美煙草股份有限公司（紐約證交所代碼：BTI）的股價下降了 7.72%。當了解公司在 3 個月之類的時間段內的價格變化時，查看其財務狀況可能會有所幫助。公司財務的一個關鍵方面是債務，但在我們了解債務的重要性之前，讓我們來看看英美煙草有多少債務。
British American Tobacco Debt
英美煙草債務
According to the British American Tobacco's most recent financial statement as reported on March 26, 2020, total debt is at $61.57 billion, with $51.53 billion in long-term debt and $10.03 billion in current debt. Adjusting for $3.35 billion in cash-equivalents, the company has a net debt of $58.22 billion.
根據英美煙草公司 2020 年 3 月 26 日報導的最新財務報表，債務總額為 61.57 億美元，長期債務為 51.53 億美元，當前債務為 100.3 億美元。調整 33.5 億美元的現金等價物，該公司的淨債務為 58.22 億美元。
Let's define some of the terms we used in the paragraph above. Current debt is the portion of a company's debt which is due within 1 year, while long-term debt is the portion due in more than 1 year. Cash equivalents includes cash and any liquid securities with maturity periods of 90 days or less. Total debt equals current debt plus long-term debt minus cash equivalents.
讓我們定義一些我們在上面的段落中使用的術語。 目前債務 是公司債務的部分，該部分在 1 年內到期，而 長期債務 是在 1 年以上到期的部分。 等同現金 包括現金及任何到期期限為 90 天或以下的流動性證券。 債務總額 等於目前債務加上長期債務減去現金等價物。
To understand the degree of financial leverage a company has, investors look at the debt ratio. Considering British American Tobacco's $187.10 billion in total assets, the debt-ratio is at 0.33. Generally speaking, a debt-ratio more than 1 means that a large portion of debt is funded by assets. As the debt-ratio increases, so the does the risk of defaulting on loans, if interest rates were to increase. Different industries have different thresholds of tolerance for debt-ratios. For example, a debt ratio of 35% might be higher for one industry, but normal for another.
為了了解公司的財務槓桿程度，投資者需要考慮債務比率。考慮到英美煙草公司的總資產為 187.10 億美元，債務比率為 0.33。一般來說，債務比率超過 1 意味著很大一部分債務由資產提供資金。由於債務比率的增加，拖欠貸款的風險也是如此，如果利率增加。不同行業對債務比率有不同的容忍閾值。例如，對一個行業而言，35％ 的債務比率可能會更高，但對另一個行業來說是正常的。
Why Investors Look At Debt?
為什麼投資者看債務？
Debt is an important factor in the capital structure of a company, and can help it attain growth. Debt usually has a relatively lower financing cost than equity, which makes it an attractive option for executives.
債務是公司資本結構的一個重要因素，可以幫助它實現增長。債務通常具有相對較低的融資成本比股票, 這使其成為一個有吸引力的選擇對高管.
However, interest-payment obligations can have an adverse impact on the cash-flow of the company. Having financial leverage also allows companies to use additional capital for business operations, allowing equity owners to retain excess profit, generated by the debt capital.
但是，支付利息責任可能會對公司的現金流產生不利影響。擁有財務槓桿還允許公司將額外資本用於業務運營，從而使股權所有者可以保留由債務資本產生的額外利潤。
Looking for stocks with low debt-to-equity ratios? Check out Benzinga Pro, a market research platform which provides investors with near-instantaneous access to dozens of stock metrics - including debt-to-equity ratio. Click here to learn more.
尋找債務與股票比率較低的股票？查看 Beninga Pro，這是一個市場研究平台，該平台為投資者提供了幾乎即時的訪問數十種股票指標-包括債務與權益比率。點擊這裡了解更多。
This article was generated by Benzinga's automated content engine and reviewed by an editor.
本文由 Beninga 的自動化內容引擎生成，並由編輯審查。
譯文內容由第三人軟體翻譯。