这家公司的CASH FLOW 有问题吗?

sujiea

哪位同学熟悉财务帮忙看一下这家公司的CASH FLOW 有没有问题?谢谢.

PERIOD ENDING                30-Jun-09        30-Jun-08        30-Jun-07
Net Income                1,707,000          1,802,000          2,162,000  
                               
Operating Activities, Cash Flows Provided By or Used In                                
Depreciation                730,000          721,000          701,000  
Adjustments To Net Income                -178,000        -119,000        -918,000
Changes In Accounts Receivables                3,680,000          -1,975,000        -953,000
Changes In Liabilities                -2,223,000        1,735,000          783,000  
Changes In Inventories                1,899,000          -4,580,000        -1,215,000
Changes In Other Operating Activities                -274,000        -788,000        -257,000
                               
Total Cash Flow From Operating Activities                5,341,000          -3,204,000        303,000  
                               
Investing Activities, Cash Flows Provided By or Used In                               
Capital Expenditures                -1,898,000        -1,779,000        -1,198,000
Investments                -105,000        -215,000        422,000  
Other Cashflows from Investing Activities                132,000          99,000          421,000  
                               
Total Cash Flows From Investing Activities                -1,871,000        -1,895,000        -355,000
                               
Financing Activities, Cash Flows Provided By or Used In                               
Dividends Paid                -347,000        -316,000        -281,000
Sale Purchase of Stock                -100,000        -61,000        -662,000
Net Borrowings                -2,789,000        5,600,000          507,000  
Other Cash Flows from Financing Activities                11,000          23,000          38,000  
                               
Total Cash Flows From Financing Activities                -3,225,000        5,246,000          -398,000
Effect Of Exchange Rate Changes                -          -          -  
                               
Change In Cash and Cash Equivalents                 $245,000          $147,000          ($450,000

Brother

什么公司？ ASX Code?

Brother

Operation activities 有点问题。
看看后面的notes,所有突然的大规模的变动要很留意

sujiea

谢谢Brother.
是美国的公司, 不在澳洲. CASH FLOW一般为多少才算安全呢?如何衡量?这家公司的负债率为57.26%. Net Income  为1,707,000. (所有数据单位为千).中短期内这家公司会不会出现大的问题比如运行不下去了这类风险?

hhuang

这家公司现金流跟前两年比很强啊,
虽然收入基本持平,但应收和存货大幅减少,应付大幅提高,,所以营运现金流显著提高,5.3M到进项.挣的钱都还债去了,在融资现金流里有2.8M的出项.所有都是向健康反向发展
中短期内这家公司会不会出现大的问题比如运行不下去了这类风险,要具体看资产负债表,尤其短期负债项,和现金项.

sujiea

谢谢HHUANG.
短期负债今年有所改善. 看起来今年这家美国公司财务状况有所改善.
负债表如下:

PERIOD ENDING 30-Jun-09 30-Jun-08 30-Jun-07

Assets
Current Assets
Cash And Cash Equivalents 3,485,000   2,845,000   2,087,000   
Short Term Investments 500,000   455,000   -   
Net Receivables 7,311,000   11,483,000   6,404,000   
Inventory 7,782,000   10,160,000   6,060,000   
Other Current Assets 330,000   512,000   571,000   

Total Current Assets 19,408,000   25,455,000   15,122,000   
Long Term Investments 3,085,000   3,363,000   3,155,000   
Property Plant and Equipment 7,950,000   7,125,000   6,010,000   
Goodwill 532,000   506,000   317,000   
Intangible Assets -   -   -   
Accumulated Amortization -   -   -   
Other Assets 610,000   607,000   514,000   
Deferred Long Term Asset Charges -   -   -   

Total Assets 31,585,000   37,056,000   25,118,000   

Liabilities
Current Liabilities
Accounts Payable 8,481,000   11,266,000   7,335,000   
Short/Current Long Term Debt 404,000   3,355,000   533,000   
Other Current Liabilities -   -   -   

Total Current Liabilities 8,885,000   14,621,000   7,868,000   
Long Term Debt 7,800,000   7,690,000   4,752,000   
Other Liabilities 1,171,000   782,000   713,000   
Deferred Long Term Liability Charges 230,000   473,000   532,000   
Minority Interest -   -   -   
Negative Goodwill -   -   -   

Total Liabilities 18,086,000   23,566,000   13,865,000   

Stockholders' Equity  
Misc Stocks Options Warrants -   -   -   
Redeemable Preferred Stock -   -   -   
Preferred Stock -   -   -   
Common Stock 5,022,000   5,039,000   5,090,000   
Retained Earnings 8,832,000   7,494,000   5,982,000   
Treasury Stock -   -   -   
Capital Surplus -   -   -   
Other Stockholder Equity (355,000) 957,000   181,000   

Total Stockholder Equity 13,499,000   13,490,000   11,253,000   

Net Tangible Assets $12,967,000   $12,984,000   $10,936,000

hhuang

the company 's liquidity should be fine
Normally if quick ratio (Cash / short term liability ) > 1, and current ratio (current assets  / current liabilities) > 2, the company shouldn't have any liquidity issues.
It is a much stronger balance sheet than before