What Does L Brands's Debt Look Like?
What Does L Brands's Debt Look Like?
Shares of L Brands (NYSE: LB) moved higher by 27.37% in the past three months. Before we understand the importance of debt, let us look at how much debt L Brands has. L Brands's Debt
的股份 L品牌 (紐約證券交易所代碼：PB)在過去三個月裏上漲了27.37%。在我們理解債務的重要性之前，讓我們先看看L Brands有多少債務。L Brands的債務
According to the L Brands’s most recent balance sheet as reported on September 3, 2020, total debt is at $6.73 billion, with $6.27 billion in long-term debt and $460.00 million in current debt. Adjusting for $2.61 billion in cash-equivalents, the company has a net debt of $4.12 billion.
根據L Brands於2020年9月3日公佈的最新資產負債表，總債務為67.3億美元，其中長期債務為62.7億美元，本期債務為4.6億美元。經26.1億美元的現金等價物調整後，該公司的淨債務為41.2億美元。
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 include 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.
讓我們定義一下我們在上面段落中使用的一些術語。當前債務是指公司1年內到期的債務部分，而長期債務是指1年以上到期的債務部分。現金等價物包括現金和任何到期日在90天或以下的流動證券。總債務等於當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 L Brands’s $10.88 billion in total assets, the debt-ratio is at 0.62. Generally speaking, a debt-ratio more than one 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. A debt ratio of 35% might be higher for one industry and average for another. Why Debt Is Important
為了瞭解一家公司的財務槓桿程度，投資者關注的是負債率。考慮到L Brands的總資產為108.8億美元，負債率為0.62。一般來説，負債率超過一這意味着很大一部分債務是由資產提供資金的。隨着債務比率的增加，如果利率上升，貸款違約的風險也會增加。不同行業對負債率的容忍度門檻不同。35%的負債率對於一個行業來説可能更高，而對另一個行業來説則是平均水平。為什麼債務很重要
Besides equity, debt is an important factor in the capital structure of a company, and contributes to its growth. Due to its lower financing cost compared to equity, it becomes an attractive option for executives trying to raise capital.
除了股權，債務是公司資本結構中的一個重要因素，並對公司的增長做出了貢獻。由於其融資成本低於股權，對於試圖籌集資金的高管來説，它成為一個有吸引力的選擇。
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.
然而，支付利息的義務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，允許股權所有者保留債務資本產生的超額利潤。
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尋找債務股本比率較低的股票？看看Benzinga Pro，這是一個市場研究平臺，為投資者提供了數十個股票指標的近乎即時的訪問-包括債務與股本比率。單擊此處瞭解更多信息。
譯文內容由第三人軟體翻譯。