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We're Hopeful That Caribou Biosciences (NASDAQ:CRBU) Will Use Its Cash Wisely

We're Hopeful That Caribou Biosciences (NASDAQ:CRBU) Will Use Its Cash Wisely

我們希望 Caribou Biosciences(納斯達克股票代碼:CRBU)能夠明智地使用其現金
Simply Wall St ·  04/05 18:09

We can readily understand why investors are attracted to unprofitable companies. For example, biotech and mining exploration companies often lose money for years before finding success with a new treatment or mineral discovery. But the harsh reality is that very many loss making companies burn through all their cash and go bankrupt.

我們很容易理解爲什麼投資者會被無利可圖的公司所吸引。例如,生物技術和礦業勘探公司通常會虧損多年,然後才能通過新的處理方法或礦物發現獲得成功。但嚴酷的現實是,許多虧損公司耗盡了所有現金並破產。

So, the natural question for Caribou Biosciences (NASDAQ:CRBU) shareholders is whether they should be concerned by its rate of cash burn. For the purposes of this article, cash burn is the annual rate at which an unprofitable company spends cash to fund its growth; its negative free cash flow. We'll start by comparing its cash burn with its cash reserves in order to calculate its cash runway.

因此,對於Caribou Biosciences(納斯達克股票代碼:CRBU)股東來說,自然而然的問題是他們是否應該擔心其現金消耗率。就本文而言,現金消耗是無利可圖的公司每年花費現金爲其增長提供資金的比率;其負自由現金流。首先,我們將將其現金消耗與現金儲備進行比較,以計算其現金流量。

How Long Is Caribou Biosciences' Cash Runway?

Caribou Biosciences 的現金跑道有多長?

You can calculate a company's cash runway by dividing the amount of cash it has by the rate at which it is spending that cash. As at December 2023, Caribou Biosciences had cash of US$329m and no debt. Importantly, its cash burn was US$105m over the trailing twelve months. That means it had a cash runway of about 3.1 years as of December 2023. A runway of this length affords the company the time and space it needs to develop the business. Depicted below, you can see how its cash holdings have changed over time.

你可以通過將公司的現金金額除以現金的支出率來計算公司的現金流量。截至2023年12月,Caribou Biosciences的現金爲3.29億美元,沒有債務。重要的是,在過去的十二個月中,其現金消耗爲1.05億美元。這意味着截至2023年12月,它的現金流約爲3.1年。如此長度的跑道爲公司提供了發展業務所需的時間和空間。如下所示,您可以看到其現金持有量隨着時間的推移而發生了怎樣的變化。

debt-equity-history-analysis
NasdaqGS:CRBU Debt to Equity History April 5th 2024
NASDAQGS: CRBU 債權與股本比率歷史記錄 2024 年 4 月 5 日

How Well Is Caribou Biosciences Growing?

Caribou Biosciences 的增長情況如何?

Some investors might find it troubling that Caribou Biosciences is actually increasing its cash burn, which is up 7.0% in the last year. On a more positive note, the operating revenue improved by 149% over the period, offering an indication that the expenditure may well be worthwhile. If that revenue does keep flowing reliably, then the company could see a strong improvement in free cash flow simply by reducing growth expenditure. We think it is growing rather well, upon reflection. Clearly, however, the crucial factor is whether the company will grow its business going forward. So you might want to take a peek at how much the company is expected to grow in the next few years.

一些投資者可能會感到不安的是,Caribou Biosciences實際上是 增加 其現金消耗量在去年增長了7.0%。從更積極的方面來看,營業收入同期增長了149%,這表明這筆支出很可能是值得的。如果收入確實保持了可靠的流動,那麼只要減少增長支出,公司的自由現金流就可以得到強勁的改善。經過反思,我們認爲它的增長相當不錯。但是,顯然,關鍵因素是該公司未來是否會發展其業務。因此,你可能想看看該公司在未來幾年預計將增長多少。

Can Caribou Biosciences Raise More Cash Easily?

馴鹿生物科學能否輕鬆籌集更多現金?

There's no doubt Caribou Biosciences seems to be in a fairly good position, when it comes to managing its cash burn, but even if it's only hypothetical, it's always worth asking how easily it could raise more money to fund growth. Generally speaking, a listed business can raise new cash through issuing shares or taking on debt. Many companies end up issuing new shares to fund future growth. By looking at a company's cash burn relative to its market capitalisation, we gain insight on how much shareholders would be diluted if the company needed to raise enough cash to cover another year's cash burn.

毫無疑問,Caribou Biosciences在管理現金消耗方面似乎處於相當有利的地位,但即使這只是假設,也總是值得一問的是,它籌集更多資金爲增長提供資金有多容易。一般而言,上市企業可以通過發行股票或承擔債務來籌集新現金。許多公司最終發行新股以資助未來的增長。通過觀察公司相對於其市值的現金消耗,我們可以深入了解如果公司需要籌集足夠的現金來彌補下一年的現金消耗,股東會被稀釋多少。

Since it has a market capitalisation of US$423m, Caribou Biosciences' US$105m in cash burn equates to about 25% of its market value. That's not insignificant, and if the company had to sell enough shares to fund another year's growth at the current share price, you'd likely witness fairly costly dilution.

由於其市值爲4.23億美元,Caribou Biosciences的1.05億美元現金消耗相當於其市值的25%左右。這並非微不足道,如果公司必須以當前股價出售足夠的股票來爲下一年的增長提供資金,那麼您可能會看到相當昂貴的稀釋。

So, Should We Worry About Caribou Biosciences' Cash Burn?

那麼,我們應該擔心Caribou Biosciences的現金消耗嗎?

On this analysis of Caribou Biosciences' cash burn, we think its revenue growth was reassuring, while its cash burn relative to its market cap has us a bit worried. Considering all the factors discussed in this article, we're not overly concerned about the company's cash burn, although we do think shareholders should keep an eye on how it develops. Taking a deeper dive, we've spotted 4 warning signs for Caribou Biosciences you should be aware of, and 1 of them shouldn't be ignored.

在對Caribou Biosciences現金消耗的分析中,我們認爲其收入增長令人放心,而相對於市值的現金消耗卻讓我們有些擔憂。考慮到本文中討論的所有因素,儘管我們確實認爲股東應該關注公司的發展情況,但我們並不過分擔心公司的現金消耗。深入研究,我們發現了你應該注意的4個Caribou Biosciences警告信號,其中一個不容忽視。

Of course Caribou Biosciences 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.

當然,Caribou Biosciences可能不是最好的買入股票。因此,你可能希望看到這份免費收藏的擁有高股本回報率的公司,或者這份內部人士正在購買的股票清單。

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.

對這篇文章有反饋嗎?對內容感到擔憂?直接聯繫我們。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。

譯文內容由第三人軟體翻譯。


以上內容僅用作資訊或教育之目的,不構成與富途相關的任何投資建議。富途竭力但無法保證上述全部內容的真實性、準確性和原創性。
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