We're Hopeful That QuinStreet (NASDAQ:QNST) Will Use Its Cash Wisely
We're Hopeful That QuinStreet (NASDAQ:QNST) Will Use Its Cash Wisely
Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the right price. 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.
即使一家企業虧損,如果股東以適當的價格購買到一家好的企業,他們仍然有可能賺錢。例如,生物技術和礦業勘探公司在成功開發新的治療方法或發現礦物質之前往往多年虧損。但現實情況是,很多虧損的公司會燒光所有現金並破產。
So should QuinStreet (NASDAQ:QNST) shareholders be worried about its cash burn? In this article, we define cash burn as its annual (negative) free cash flow, which is the amount of money a company spends each year to fund its growth. The first step is to compare its cash burn with its cash reserves, to give us its 'cash runway'.
那麼,QuinStreet (納斯達克: QNST) 的股東們應該擔心其現金燃燒嗎?在本文中,我們將現金燃燒定義爲其年度(負面)自由現金流,即公司每年用於資助其增長的資金金額。第一步是將其現金燃燒與其現金儲備進行比較,從而得出其'現金補充'。
Does QuinStreet Have A Long Cash Runway?
QuinStreet擁有長期的現金補充嗎?
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. When QuinStreet last reported its June 2024 balance sheet in August 2024, it had zero debt and cash worth US$50m. Importantly, its cash burn was US$4.7m over the trailing twelve months. So it had a very long cash runway of many years from June 2024. The image below shows how its cash balance has been changing over the last few years.
您可以通過將公司的現金金額除以其花費現金的速度來計算公司的現金補充。當QuinStreet於2024年6月在2024年8月報告其資產負債表時,它沒有債務,現金價值爲5000萬美元。重要的是,其現金燃燒在過去十二個月中爲470萬元。因此,從2024年6月開始,它擁有很長時間的現金補充。下圖顯示了其現金餘額在過去幾年中的變化。
![1725193790352](https://newsfile.futunn.com/public/NN-PersistNewsContentImage/7781/20240901/47338702-0-89cb52a7af24a63641e6a14b482b3622.avif/big)
How Well Is QuinStreet Growing?
Quinstreet的業務增長如何?
At first glance it's a bit worrying to see that QuinStreet actually boosted its cash burn by 48%, year on year. At least the revenue was up 5.7% during the period, even if it wasn't up by much. Considering both these factors, we're not particularly excited by its growth profile. While the past is always worth studying, it is the future that matters most of all. For that reason, it makes a lot of sense to take a look at our analyst forecasts for the company.
乍一看,看到QuinStreet的現金燃燒實際上同比增長了48%有點令人擔憂。至少在這段時期內,營收增長了5.7%,即使增幅不大。考慮到這兩個因素,我們對其增長情況並不是特別激動。雖然過去總是值得研究的,但最重要的是未來。因此,瀏覽一下公司分析師的預測非常有意義。
How Easily Can QuinStreet Raise Cash?
QuinStreet能否輕鬆籌集資金?
QuinStreet seems to be in a fairly good position, in terms of cash burn, but we still think it's worthwhile considering how easily it could raise more money if it wanted to. Companies can raise capital through either debt or equity. One of the main advantages held by publicly listed companies is that they can sell shares to investors to raise cash and fund 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).
QuinStreet在現金燃燒方面似乎處於相當不錯的位置,但我們仍認爲值得考慮的是,如果有需要,它能夠輕鬆籌集更多資金。 公司可以通過債務或股權來籌集資本。 公開上市公司的一個主要優勢是它們可以向投資者出售股票以籌集資金並支持其發展。 通過比較公司的年度現金燃燒與其總市值,我們可以大致估計公司需要發行多少股份才能以相同的燃燒速度運營一年。
QuinStreet's cash burn of US$4.7m is about 0.4% of its US$1.1b market capitalisation. That means it could easily issue a few shares to fund more growth, and might well be in a position to borrow cheaply.
QuinStreet的現金燃燒爲470萬美元,約佔其11億美元的總市值的0.4%。 這意味着它可以輕鬆發行一些股票以籌集更多資金,並且很可能處於廉價借貸的位置。
So, Should We Worry About QuinStreet's Cash Burn?
所以,我們應該擔心QuinStreet的現金燃燒嗎?
As you can probably tell by now, we're not too worried about QuinStreet's cash burn. In particular, we think its cash runway stands out as evidence that the company is well on top of its spending. While its increasing cash burn wasn't great, the other factors mentioned in this article more than make up for weakness on that measure. After taking into account the various metrics mentioned in this report, we're pretty comfortable with how the company is spending its cash, as it seems on track to meet its needs over the medium term. Readers need to have a sound understanding of business risks before investing in a stock, and we've spotted 1 warning sign for QuinStreet that potential shareholders should take into account before putting money into a stock.
正如您現在可能已經看出來的那樣,我們對QuinStreet的現金燃燒並不太擔心。 特別是,我們認爲它的現金儲備能力顯示出公司在控制支出方面非常出色。 儘管其不斷增加的現金燃燒並不理想,但本文提到的其他因素絕對彌補了這一指標的弱點。 考慮到本報告中提及的各種指標,我們對公司的資金使用方式非常滿意,因爲它似乎在中期內能夠滿足其需求。 投資者在投資股票之前需要對業務風險有深入的了解,我們已經注意到QuinStreet存在1個警告信號,潛在股東在投資股票時應該考慮到這一點。
If you would prefer to check out another company with better fundamentals, then do not miss this free list of interesting companies, that have HIGH return on equity and low debt or this list of stocks which are all forecast to grow.
如果您希望查詢其他基本面更好的公司,則不要錯過具有高淨資產回報率和低債務的有趣公司免費列表,或者這個預計所有股票都會增長的股票列表。
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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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這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論,只使用公正的方法論,我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議,也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意,我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
譯文內容由第三人軟體翻譯。