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Would Compañía De Minas BuenaventuraA (NYSE:BVN) Be Better Off With Less Debt?

Would Compañía De Minas BuenaventuraA (NYSE:BVN) Be Better Off With Less Debt?

如果减少债务,Compani'a De Minas Buenaventuraa(纽约证券交易所代码:BVN)会过得更好吗?
Simply Wall St ·  2023/05/26 20:39

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital.' It's only natural to consider a company's balance sheet when you examine how risky it is, since debt is often involved when a business collapses. We can see that Compañía de Minas Buenaventura S.A.A. (NYSE:BVN) does use debt in its business. But is this debt a concern to shareholders?

传奇基金经理李露(Charlie Munger 支持他)曾经说过:“最大的投资风险不是价格的波动,而是你是否会遭受永久的资本损失。”在研究公司的资产负债表有多风险时,考虑公司的资产负债表是很自然的,因为企业倒闭时通常涉及债务。我们可以看出来 Compani'a de Minas Buenaventura S.A.A. 纽约证券交易所代码:BVN)确实在其业务中使用了债务。但是这笔债务是股东关心的问题吗?

What Risk Does Debt Bring?

债务会带来什么风险?

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. In the worst case scenario, a company can go bankrupt if it cannot pay its creditors. However, a more usual (but still expensive) situation is where a company must dilute shareholders at a cheap share price simply to get debt under control. Of course, plenty of companies use debt to fund growth, without any negative consequences. The first thing to do when considering how much debt a business uses is to look at its cash and debt together.

一般而言,只有当公司无法通过筹集资金或利用自己的现金流轻松还清债务时,债务才会成为真正的问题。在最坏的情况下,如果公司无法向债权人付款,它可能会破产。但是,更常见(但仍然昂贵)的情况是,公司必须以低廉的股价稀释股东,这样才能控制债务。当然,许多公司使用债务为增长提供资金,而不会产生任何负面后果。在考虑企业使用多少债务时,要做的第一件事是将其现金和债务放在一起考虑。

View our latest analysis for Compañía de Minas BuenaventuraA

查看我们对 Compani'a de Minas Buenaventura 的最新分析

What Is Compañía de Minas BuenaventuraA's Debt?

Compani'a de Minas Beunaventuraa 的债务是多少?

You can click the graphic below for the historical numbers, but it shows that as of March 2023 Compañía de Minas BuenaventuraA had US$730.3m of debt, an increase on US$653.3m, over one year. However, because it has a cash reserve of US$173.5m, its net debt is less, at about US$556.8m.

你可以点击下图查看历史数字,但它显示,截至2023年3月,Compani'a de Minas Buenaventuraa在一年内有7.303亿美元的债务,比6.533亿美元有所增加。但是,由于其现金储备为1.735亿美元,其净负债较少,约为5.568亿美元。

debt-equity-history-analysis
NYSE:BVN Debt to Equity History May 26th 2023
纽约证券交易所:BVN 债转股历史记录 2023 年 5 月 26 日

A Look At Compañía de Minas BuenaventuraA's Liabilities

看看 Compani'a de Minas Beunaventuraa 的负债

The latest balance sheet data shows that Compañía de Minas BuenaventuraA had liabilities of US$330.7m due within a year, and liabilities of US$954.4m falling due after that. Offsetting these obligations, it had cash of US$173.5m as well as receivables valued at US$282.9m due within 12 months. So it has liabilities totalling US$828.6m more than its cash and near-term receivables, combined.

最新的资产负债表数据显示,Compani'a de Minas Buenaventuraa在一年内到期的负债为3.307亿美元,此后到期的负债为9.544亿美元。抵消了这些债务,它有1.735亿美元的现金以及在12个月内到期的价值2.829亿美元的应收账款。因此,它的负债总额比其现金和短期应收账款的总和多出8.286亿美元。

While this might seem like a lot, it is not so bad since Compañía de Minas BuenaventuraA has a market capitalization of US$1.68b, and so it could probably strengthen its balance sheet by raising capital if it needed to. But it's clear that we should definitely closely examine whether it can manage its debt without dilution. When analysing debt levels, the balance sheet is the obvious place to start. But it is future earnings, more than anything, that will determine Compañía de Minas BuenaventuraA'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.

尽管这可能看起来很多,但还不错,因为Compani'a de Minas Buenaventuraa的市值为16.8亿美元,因此,如果需要,它可能会通过筹集资金来加强资产负债表。但很明显,我们绝对应该仔细研究它能否在不稀释的情况下管理债务。在分析债务水平时,资产负债表是显而易见的起点。但是,未来的收益比什么都重要,将决定Compani'a de Minas Buenaventuraa未来维持健康资产负债表的能力。因此,如果你专注于未来,你可以看看这个 免费的 显示分析师盈利预测的报告。

Over 12 months, Compañía de Minas BuenaventuraA made a loss at the EBIT level, and saw its revenue drop to US$777m, which is a fall of 18%. That's not what we would hope to see.

在过去的12个月中,Compani'a de Minas Buenaventuraa在息税前利润水平上亏损,收入降至7.77亿美元,下降了18%。这不是我们希望看到的。

Caveat Emptor

Caveat Emptor

Not only did Compañía de Minas BuenaventuraA's revenue slip over the last twelve months, but it also produced negative earnings before interest and tax (EBIT). Indeed, it lost US$74m at the EBIT level. When we look at that and recall the liabilities on its balance sheet, relative to cash, it seems unwise to us for the company to have any debt. So we think its balance sheet is a little strained, though not beyond repair. However, it doesn't help that it burned through US$103m of cash over the last year. So suffice it to say we consider the stock very risky. There's no doubt that we learn most about debt from the balance sheet. However, not all investment risk resides within the balance sheet - far from it. Be aware that Compañía de Minas BuenaventuraA is showing 2 warning signs in our investment analysis , you should know about...

在过去的十二个月中,Compani'a de Minas Buenaventuraa的收入不仅下滑,而且还产生了利息和税前收益(EBIT)为负收益。事实上,它在息税前利润水平上损失了7400万美元。当我们审视这一点并回顾其资产负债表上相对于现金的负债时,对我们来说,该公司有任何债务似乎是不明智的。因此,我们认为其资产负债表有点紧张,尽管并非无法修复。但是,去年它消耗了1.03亿美元的现金,这无济于事。因此,只要说我们认为这只股票风险很高就足够了。毫无疑问,我们从资产负债表中学到的关于债务的知识最多。但是,并非所有的投资风险都存在于资产负债表内——远非如此。注意 Compani'a de Minas Buenaventuraa 正在露面 我们的投资分析中有两个警告信号 ,你应该知道...

Of course, if you're the type of investor who prefers buying stocks without the burden of debt, then don't hesitate to discover our exclusive list of net cash growth stocks, today.

当然,如果你是那种喜欢在没有债务负担的情况下购买股票的投资者,那么请立即查看我们的独家净现金增长股票清单。

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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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Simply Wall St 的这篇文章本质上是笼统的。 我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。 它不构成买入或卖出任何股票的建议,也没有考虑您的目标或财务状况。我们的目标是为您提供由基本面数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感公司公告或定性材料。简而言之,华尔街在上述任何股票中都没有头寸。

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