<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/710DF133-B67A-4DB4-9F9B-9EE3C67884E5/chart/price-vs-fair-value?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/710DF133-B67A-4DB4-9F9B-9EE3C67884E5/chart/price-vs-fair-value"/></p>
<p>TSE:8194 1 年股价与公允价值对比</p>
<p>探索来自社区的生活公允价值并选择您的价值</p>
<p>沃伦·巴菲特曾 famously 说过，'波动性远非风险的同义词。' 所以聪明的钱知道，债务 - 通常与破产有关 - 是评估公司风险时非常重要的因素。我们注意到 <strong>Life Corporation</strong> (TSE:8194) 的资产负债表上确实有债务。但更重要的问题是：这些债务带来了多少风险？</p>
<p>我们发现 21 只美国股票预计明年将支付超过 6% 的股息收益率。查看完整列表，免费获取。</p>
<h2>债务何时成为问题？</h2>
<p>一般来说，债务只有在公司无法轻松偿还时才会成为真正的问题，无论是通过筹集资本还是通过自身的现金流。资本主义的一个组成部分是'创造性破坏'的过程，失败的企业会被其银行家无情地清算。然而，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权益，仅仅是为了控制债务。尽管如此，最常见的情况是公司合理管理其债务，并从中获益。当我们考虑公司的债务使用时，我们首先会将现金和债务结合起来看。</p>
<h2>Life 的债务有多少？</h2>
<p>您可以点击下面的图形查看历史数据，但它显示 Life 在 2025 年 5 月的债务为 363 亿日元，较一年前的 492 亿日元有所下降。然而，它也有 258 亿日元的现金，因此其净债务为 105 亿日元。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/880512-debt-equity-history-analysis-1-dark-2/1755490772997?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/880512-debt-equity-history-analysis-1-dark-2/1755490772997"/></p>
<p>TSE:8194 债务与股本历史 2025 年 8 月 18 日</p>
<h2>Life 的资产负债表有多强？</h2>
<p>我们可以从最新的资产负债表中看到，Life 有 1413 亿日元的负债将在一年内到期，且有 381 亿日元的负债将在此之后到期。抵消这些负债，它有 258 亿日元的现金和 515 亿日元的应收账款将在 12 个月内到期。因此，它的负债总额比其现金和短期应收账款多出 1020 亿日元。</p>
<p>虽然这看起来很多，但并不算太糟，因为 Life 的市值为 2127 亿日元，因此如果需要，它可能通过筹集资本来增强其资产负债表。但显然，我们应该密切关注它是否能够在不稀释的情况下管理其债务。</p>
<p>查看我们对 Life 的最新分析</p>
<p>我们通过查看净债务与息税折旧摊销前利润（EBITDA）的比率，以及计算息税前利润（EBIT）覆盖利息支出的能力，来衡量公司的债务负担。因此，我们考虑债务相对于收益的情况，包括和不包括折旧和摊销费用。</p>
<p>Life 的净债务仅为其 EBITDA 的 0.25 倍。其 EBIT 轻松覆盖其利息支出，达到 290 倍。因此，我们对其超保守的债务使用感到相当放松。好消息是，Life 在过去 12 个月中将其 EBIT 提高了 5.6%，这应该缓解对债务偿还的任何担忧。在分析债务时，资产负债表显然是重点。但未来的收益，尤其是，将决定 Life 未来维持健康资产负债表的能力。因此，如果您关注未来，可以查看这份 <strong>免费</strong> 报告，显示分析师的利润预测。</p>
<p>最后，虽然税务机关可能喜欢会计利润，但贷款人只接受冷硬的现金。因此，我们总是检查 EBIT 中有多少转化为自由现金流。在最近三年中，Life 记录的自由现金流占其 EBIT 的 68%，这在正常范围内，因为自由现金流不包括利息和税。这一自由现金流使公司在适当的时候能够偿还债务。</p>
<h2>我们的观点</h2>
<p>Life 的利息覆盖率表明，它可以像克里斯蒂亚诺·罗纳尔多对阵 14 岁以下守门员时那样轻松处理其债务。但更严肃地说，我们对其总负债水平有些担忧。当我们考虑上述各种因素时，Life 在债务使用上显得相当理智。虽然这带来了一些风险，但也可以增强股东的回报。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。然而，并非所有的投资风险都存在于资产负债表中 - 远非如此。这些风险可能很难发现。每家公司都有这些风险，而我们发现了 <strong>Life 的一个警告信号</strong>，您应该了解。</p>
<p>如果在这一切之后，您更感兴趣的是一家快速增长且资产负债表稳健的公司，请立即查看我们的净现金增长股票列表。</p>

8194

<p>生命公司（TSE:8194）在过去一年中将债务从 492 亿日元减少至 363 亿日元，扣除 258 亿日元现金后的净债务为 105 亿日元。尽管一年内到期的负债为 1413 亿日元，但其市值为 2127 亿日元，表明如有需要，公司可以筹集资金。生命公司的净债务仅为其息税折旧摊销前利润（EBITDA）的 0.25 倍，息税前利润（EBIT）覆盖利息支出 290 倍，显示出其保守的债务管理。然而，关于总负债的担忧依然存在，这突显了未来收益在维持健康资产负债表中的重要性</p>

<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/710DF133-B67A-4DB4-9F9B-9EE3C67884E5/chart/price-vs-fair-value" alt="" original-src="https://images.simplywall.st/company/710DF133-B67A-4DB4-9F9B-9EE3C67884E5/chart/price-vs-fair-value"/></p>
<p>TSE:8194 1 Year Share Price vs Fair Value</p>
<div class="lb-trans"><p>TSE:8194 1 年股价与公允价值对比</p>
</div><p>Explore Life's Fair Values from the Community and select yours</p>
<div class="lb-trans"><p>探索来自社区的生活公允价值并选择您的价值</p>
</div><p>Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that debt - which is usually involved in bankruptcies - is a very important factor, when you assess how risky a company is. We note that <strong>Life Corporation</strong> (TSE:8194) does have debt on its balance sheet. But the more important question is: how much risk is that debt creating?</p>
<div class="lb-trans"><p>沃伦·巴菲特曾 famously 说过，'波动性远非风险的同义词。' 所以聪明的钱知道，债务 - 通常与破产有关 - 是评估公司风险时非常重要的因素。我们注意到 <strong>Life Corporation</strong> (TSE:8194) 的资产负债表上确实有债务。但更重要的问题是：这些债务带来了多少风险？</p>
</div><p>We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free.</p>
<div class="lb-trans"><p>我们发现 21 只美国股票预计明年将支付超过 6% 的股息收益率。查看完整列表，免费获取。</p>
</div><h2>When Is Debt A Problem?</h2>
<div class="lb-trans"><h2>债务何时成为问题？</h2>
</div><p>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. Part and parcel of capitalism is the process of 'creative destruction' where failed businesses are mercilessly liquidated by their bankers. 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. Having said that, the most common situation is where a company manages its debt reasonably well - and to its own advantage. When we think about a company's use of debt, we first look at cash and debt together.</p>
<div class="lb-trans"><p>一般来说，债务只有在公司无法轻松偿还时才会成为真正的问题，无论是通过筹集资本还是通过自身的现金流。资本主义的一个组成部分是'创造性破坏'的过程，失败的企业会被其银行家无情地清算。然而，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权益，仅仅是为了控制债务。尽管如此，最常见的情况是公司合理管理其债务，并从中获益。当我们考虑公司的债务使用时，我们首先会将现金和债务结合起来看。</p>
</div><h2>How Much Debt Does Life Carry?</h2>
<div class="lb-trans"><h2>Life 的债务有多少？</h2>
</div><p>You can click the graphic below for the historical numbers, but it shows that Life had JP¥36.3b of debt in May 2025, down from JP¥49.2b, one year before. However, it also had JP¥25.8b in cash, and so its net debt is JP¥10.5b.</p>
<div class="lb-trans"><p>您可以点击下面的图形查看历史数据，但它显示 Life 在 2025 年 5 月的债务为 363 亿日元，较一年前的 492 亿日元有所下降。然而，它也有 258 亿日元的现金，因此其净债务为 105 亿日元。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/880512-debt-equity-history-analysis-1-dark-2/1755490772997" alt="" original-src="https://images.simplywall.st/asset/chart/880512-debt-equity-history-analysis-1-dark-2/1755490772997"/></p>
<p>TSE:8194 Debt to Equity History August 18th 2025</p>
<div class="lb-trans"><p>TSE:8194 债务与股本历史 2025 年 8 月 18 日</p>
</div><h2>How Strong Is Life's Balance Sheet?</h2>
<div class="lb-trans"><h2>Life 的资产负债表有多强？</h2>
</div><p>We can see from the most recent balance sheet that Life had liabilities of JP¥141.3b falling due within a year, and liabilities of JP¥38.1b due beyond that. Offsetting this, it had JP¥25.8b in cash and JP¥51.5b in receivables that were due within 12 months. So it has liabilities totalling JP¥102.0b more than its cash and near-term receivables, combined.</p>
<div class="lb-trans"><p>我们可以从最新的资产负债表中看到，Life 有 1413 亿日元的负债将在一年内到期，且有 381 亿日元的负债将在此之后到期。抵消这些负债，它有 258 亿日元的现金和 515 亿日元的应收账款将在 12 个月内到期。因此，它的负债总额比其现金和短期应收账款多出 1020 亿日元。</p>
</div><p>While this might seem like a lot, it is not so bad since Life has a market capitalization of JP¥212.7b, 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.</p>
<div class="lb-trans"><p>虽然这看起来很多，但并不算太糟，因为 Life 的市值为 2127 亿日元，因此如果需要，它可能通过筹集资本来增强其资产负债表。但显然，我们应该密切关注它是否能够在不稀释的情况下管理其债务。</p>
</div><p>See our latest analysis for Life</p>
<div class="lb-trans"><p>查看我们对 Life 的最新分析</p>
</div><p>We measure a company's debt load relative to its earnings power by looking at its net debt divided by its earnings before interest, tax, depreciation, and amortization (EBITDA) and by calculating how easily its earnings before interest and tax (EBIT) cover its interest expense (interest cover). Thus we consider debt relative to earnings both with and without depreciation and amortization expenses.</p>
<div class="lb-trans"><p>我们通过查看净债务与息税折旧摊销前利润（EBITDA）的比率，以及计算息税前利润（EBIT）覆盖利息支出的能力，来衡量公司的债务负担。因此，我们考虑债务相对于收益的情况，包括和不包括折旧和摊销费用。</p>
</div><p>Life's net debt is only 0.25 times its EBITDA. And its EBIT easily covers its interest expense, being 290 times the size. So we're pretty relaxed about its super-conservative use of debt. The good news is that Life has increased its EBIT by 5.6% over twelve months, which should ease any concerns about debt repayment. The balance sheet is clearly the area to focus on when you are analysing debt. But it is future earnings, more than anything, that will determine Life's ability to maintain a healthy balance sheet going forward. So if you're focused on the future you can check out this <strong>free</strong> report showing analyst profit forecasts.</p>
<div class="lb-trans"><p>Life 的净债务仅为其 EBITDA 的 0.25 倍。其 EBIT 轻松覆盖其利息支出，达到 290 倍。因此，我们对其超保守的债务使用感到相当放松。好消息是，Life 在过去 12 个月中将其 EBIT 提高了 5.6%，这应该缓解对债务偿还的任何担忧。在分析债务时，资产负债表显然是重点。但未来的收益，尤其是，将决定 Life 未来维持健康资产负债表的能力。因此，如果您关注未来，可以查看这份 <strong>免费</strong> 报告，显示分析师的利润预测。</p>
</div><p>Finally, while the tax-man may adore accounting profits, lenders only accept cold hard cash. So we always check how much of that EBIT is translated into free cash flow. Over the most recent three years, Life recorded free cash flow worth 68% of its EBIT, which is around normal, given free cash flow excludes interest and tax. This free cash flow puts the company in a good position to pay down debt, when appropriate.</p>
<div class="lb-trans"><p>最后，虽然税务机关可能喜欢会计利润，但贷款人只接受冷硬的现金。因此，我们总是检查 EBIT 中有多少转化为自由现金流。在最近三年中，Life 记录的自由现金流占其 EBIT 的 68%，这在正常范围内，因为自由现金流不包括利息和税。这一自由现金流使公司在适当的时候能够偿还债务。</p>
</div><h2>Our View</h2>
<div class="lb-trans"><h2>我们的观点</h2>
</div><p>Life's interest cover suggests it can handle its debt as easily as Cristiano Ronaldo could score a goal against an under 14's goalkeeper. But, on a more sombre note, we are a little concerned by its level of total liabilities. When we consider the range of factors above, it looks like Life is pretty sensible with its use of debt. While that brings some risk, it can also enhance returns for shareholders. 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. These risks can be hard to spot. Every company has them, and we've spotted <strong>1 warning sign for Life</strong> you should know about.</p>
<div class="lb-trans"><p>Life 的利息覆盖率表明，它可以像克里斯蒂亚诺·罗纳尔多对阵 14 岁以下守门员时那样轻松处理其债务。但更严肃地说，我们对其总负债水平有些担忧。当我们考虑上述各种因素时，Life 在债务使用上显得相当理智。虽然这带来了一些风险，但也可以增强股东的回报。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。然而，并非所有的投资风险都存在于资产负债表中 - 远非如此。这些风险可能很难发现。每家公司都有这些风险，而我们发现了 <strong>Life 的一个警告信号</strong>，您应该了解。</p>
</div><p>If, after all that, you're more interested in a fast growing company with a rock-solid balance sheet, then check out our list of net cash growth stocks without delay.</p>
<div class="lb-trans"><p>如果在这一切之后，您更感兴趣的是一家快速增长且资产负债表稳健的公司，请立即查看我们的净现金增长股票列表。</p>
</div>

这四项指标显示 Life（TSE:8194）在债务使用方面表现良好