<p>大卫·伊本说得好，‘波动性不是我们关心的风险。我们关心的是避免资本的永久性损失。’ 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。与许多其他公司一样，<strong>Excelerate Energy, Inc.</strong>（纽约证券交易所代码：EE）也利用债务。但是，股东应该担心其债务的使用吗？</p>
<p>特朗普承诺要 “释放” 美国的石油和天然气，这 15 只美国股票的发展将受益。</p>
<h2>为什么债务带来风险？</h2>
<p>债务在企业能够偿还时是有帮助的，无论是通过新资本还是自由现金流。如果情况变得非常糟糕，贷款人可能会控制企业。然而，更常见（但仍然代价高昂）的情况是，公司必须以低价发行股票，永久性稀释股东的股份，仅仅是为了巩固其资产负债表。当然，债务的好处在于，它通常代表着廉价资本，特别是当它替代了能够以高回报率再投资的公司的稀释时。考虑公司债务水平的第一步是将其现金和债务一起考虑。</p>
<h2>Excelerate Energy 的净债务是多少？</h2>
<p>下图（您可以点击以获取更详细的信息）显示，截至 2025 年 9 月，Excelerate Energy 的债务为 11.2 亿美元，较一年前的 5.205 亿美元有所增加。然而，它也有 4.626 亿美元的现金，因此其净债务为 6.576 亿美元。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/1763672656-debt-equity-history-analysis-1-dark-2/1765537310729?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1642" height="1052" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/1763672656-debt-equity-history-analysis-1-dark-2/1765537310729"/></p>
<p>纽约证券交易所：EE 债务与股本历史 2025 年 12 月 12 日</p>
<h2>Excelerate Energy 的资产负债表健康吗？</h2>
<p>根据最后报告的资产负债表，Excelerate Energy 有 2.91 亿美元的负债在 12 个月内到期，以及 16.1 亿美元的负债在 12 个月后到期。另一方面，它有 4.626 亿美元的现金和 1.882 亿美元的应收账款在一年内到期。因此，其负债超过了现金和（短期）应收账款总和的 12.5 亿美元。</p>
<p>这个赤字并不算太糟糕，因为 Excelerate Energy 的市值为 31.1 亿美元，因此如果需要，可能能够筹集足够的资本来巩固其资产负债表。然而，仔细审视其偿还债务的能力仍然是值得的。</p>
<p>查看我们对 Excelerate Energy 的最新分析</p>
<p>我们通过查看公司的净债务与息税折旧摊销前利润（EBITDA）的比率，以及计算其息税前利润（EBIT）覆盖利息支出的能力（利息覆盖）来衡量公司的债务负担相对于其盈利能力。因此，我们考虑债务相对于盈利的情况，包括和不包括折旧和摊销费用。</p>
<p>Excelerate Energy 的净债务是 EBITDA 的 1.8 倍，这并不算太多，但其利息覆盖率看起来有点低，EBIT 仅为利息支出的 3.2 倍。虽然这些数字并没有让我们感到警觉，但值得注意的是，公司债务的成本确实产生了实际影响。重要的是，Excelerate Energy 在过去 12 个月中将 EBIT 增长了 32%，这种增长将使其更容易处理债务。在分析债务水平时，资产负债表显然是一个好的起点。但最终，企业的未来盈利能力将决定 Excelerate Energy 是否能够随着时间的推移增强其资产负债表。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，企业需要自由现金流来偿还债务；会计利润并不足够。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，Excelerate Energy 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。这种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>好消息是，Excelerate Energy 显示出增长 EBIT 的能力让我们像小狗让幼儿开心一样高兴。但从更严肃的角度来看，我们对其利息覆盖率有些担忧。综合考虑上述所有因素，我们认为 Excelerate Energy 能够相对轻松地处理其债务。当然，虽然这种杠杆可以增强股本回报，但也带来了更多风险，因此值得关注。在所有其他指标中，我们认为跟踪每股收益的增长速度是重要的。如果您也意识到了这一点，那么您很幸运，因为今天您可以免费查看 Excelerate Energy 每股收益历史的互动图表。</p>
<p>说到底，有时关注那些根本不需要债务的公司更容易。读者现在可以访问一份零净债务的成长股名单，<strong>完全免费</strong>。</p>
<p>国防和灾难的移动基础设施</p>
<p>下一波机器人技术不是类人型的。它是完全自主的塔，在 30 分钟内提供 5G、ISR 和雷达，随时随地。</p>
<p>在下一轮合同之前获取投资者简报</p>
<p>代表 CiTech 赞助</p>

<p>Excelerate Energy（纽约证券交易所代码：EE）的净债务为 6.576 亿美元，负债超过现金和应收款项 12.5 亿美元。尽管如此，该公司的估值为 31.1 亿美元，EBIT 增长了 32%，显示出其管理债务的能力。利息覆盖率较低，但自由现金流占 EBIT 的 68%，表明其偿还债务的良好能力。总体而言，Excelerate Energy 能够舒适地应对其债务，尽管仍需进行监控</p>

<p>David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the permanent loss of capital.' 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. As with many other companies <strong>Excelerate Energy, Inc.</strong> (NYSE:EE) makes use of debt. But should shareholders be worried about its use of debt?</p>
<div class="lb-trans"><p>大卫·伊本说得好，‘波动性不是我们关心的风险。我们关心的是避免资本的永久性损失。’ 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。与许多其他公司一样，<strong>Excelerate Energy, Inc.</strong>（纽约证券交易所代码：EE）也利用债务。但是，股东应该担心其债务的使用吗？</p>
</div><p>Trump has pledged to &#34;unleash&#34; American oil and gas and these 15 US stocks have developments that are poised to benefit.</p>
<div class="lb-trans"><p>特朗普承诺要 “释放” 美国的石油和天然气，这 15 只美国股票的发展将受益。</p>
</div><h2>Why Does Debt Bring Risk?</h2>
<div class="lb-trans"><h2>为什么债务带来风险？</h2>
</div><p>Debt assists a business until the business has trouble paying it off, either with new capital or with free cash flow. If things get really bad, the lenders can take control of the business. However, a more frequent (but still costly) occurrence is where a company must issue shares at bargain-basement prices, permanently diluting shareholders, just to shore up its balance sheet. Of course, the upside of debt is that it often represents cheap capital, especially when it replaces dilution in a company with the ability to reinvest at high rates of return. The first step when considering a company's debt levels is to consider its cash and debt together.</p>
<div class="lb-trans"><p>债务在企业能够偿还时是有帮助的，无论是通过新资本还是自由现金流。如果情况变得非常糟糕，贷款人可能会控制企业。然而，更常见（但仍然代价高昂）的情况是，公司必须以低价发行股票，永久性稀释股东的股份，仅仅是为了巩固其资产负债表。当然，债务的好处在于，它通常代表着廉价资本，特别是当它替代了能够以高回报率再投资的公司的稀释时。考虑公司债务水平的第一步是将其现金和债务一起考虑。</p>
</div><h2>What Is Excelerate Energy's Net Debt?</h2>
<div class="lb-trans"><h2>Excelerate Energy 的净债务是多少？</h2>
</div><p>The image below, which you can click on for greater detail, shows that at September 2025 Excelerate Energy had debt of US$1.12b, up from US$520.5m in one year. However, it also had US$462.6m in cash, and so its net debt is US$657.6m.</p>
<div class="lb-trans"><p>下图（您可以点击以获取更详细的信息）显示，截至 2025 年 9 月，Excelerate Energy 的债务为 11.2 亿美元，较一年前的 5.205 亿美元有所增加。然而，它也有 4.626 亿美元的现金，因此其净债务为 6.576 亿美元。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/1763672656-debt-equity-history-analysis-1-dark-2/1765537310729" alt="" original-src="https://images.simplywall.st/asset/chart/1763672656-debt-equity-history-analysis-1-dark-2/1765537310729"/></p>
<p>NYSE:EE Debt to Equity History December 12th 2025</p>
<div class="lb-trans"><p>纽约证券交易所：EE 债务与股本历史 2025 年 12 月 12 日</p>
</div><h2>How Healthy Is Excelerate Energy's Balance Sheet?</h2>
<div class="lb-trans"><h2>Excelerate Energy 的资产负债表健康吗？</h2>
</div><p>According to the last reported balance sheet, Excelerate Energy had liabilities of US$291.0m due within 12 months, and liabilities of US$1.61b due beyond 12 months. On the other hand, it had cash of US$462.6m and US$188.2m worth of receivables due within a year. So its liabilities outweigh the sum of its cash and (near-term) receivables by US$1.25b.</p>
<div class="lb-trans"><p>根据最后报告的资产负债表，Excelerate Energy 有 2.91 亿美元的负债在 12 个月内到期，以及 16.1 亿美元的负债在 12 个月后到期。另一方面，它有 4.626 亿美元的现金和 1.882 亿美元的应收账款在一年内到期。因此，其负债超过了现金和（短期）应收账款总和的 12.5 亿美元。</p>
</div><p>This deficit isn't so bad because Excelerate Energy is worth US$3.11b, and thus could probably raise enough capital to shore up its balance sheet, if the need arose. However, it is still worthwhile taking a close look at its ability to pay off debt.</p>
<div class="lb-trans"><p>这个赤字并不算太糟糕，因为 Excelerate Energy 的市值为 31.1 亿美元，因此如果需要，可能能够筹集足够的资本来巩固其资产负债表。然而，仔细审视其偿还债务的能力仍然是值得的。</p>
</div><p>Check out our latest analysis for Excelerate Energy</p>
<div class="lb-trans"><p>查看我们对 Excelerate Energy 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>我们通过查看公司的净债务与息税折旧摊销前利润（EBITDA）的比率，以及计算其息税前利润（EBIT）覆盖利息支出的能力（利息覆盖）来衡量公司的债务负担相对于其盈利能力。因此，我们考虑债务相对于盈利的情况，包括和不包括折旧和摊销费用。</p>
</div><p>Excelerate Energy has net debt worth 1.8 times EBITDA, which isn't too much, but its interest cover looks a bit on the low side, with EBIT at only 3.2 times the interest expense. While these numbers do not alarm us, it's worth noting that the cost of the company's debt is having a real impact. Importantly, Excelerate Energy grew its EBIT by 32% over the last twelve months, and that growth will make it easier to handle its debt. When analysing debt levels, the balance sheet is the obvious place to start. But ultimately the future profitability of the business will decide if Excelerate Energy can strengthen its balance sheet over time. 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>Excelerate Energy 的净债务是 EBITDA 的 1.8 倍，这并不算太多，但其利息覆盖率看起来有点低，EBIT 仅为利息支出的 3.2 倍。虽然这些数字并没有让我们感到警觉，但值得注意的是，公司债务的成本确实产生了实际影响。重要的是，Excelerate Energy 在过去 12 个月中将 EBIT 增长了 32%，这种增长将使其更容易处理债务。在分析债务水平时，资产负债表显然是一个好的起点。但最终，企业的未来盈利能力将决定 Excelerate Energy 是否能够随着时间的推移增强其资产负债表。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, a business needs free cash flow to pay off debt; accounting profits just don't cut it. So we always check how much of that EBIT is translated into free cash flow. Over the most recent three years, Excelerate Energy 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，企业需要自由现金流来偿还债务；会计利润并不足够。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，Excelerate Energy 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。这种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>The good news is that Excelerate Energy's demonstrated ability to grow its EBIT delights us like a fluffy puppy does a toddler. But, on a more sombre note, we are a little concerned by its interest cover. Looking at all the aforementioned factors together, it strikes us that Excelerate Energy can handle its debt fairly comfortably. Of course, while this leverage can enhance returns on equity, it does bring more risk, so it's worth keeping an eye on this one. Above most other metrics, we think its important to track how fast earnings per share is growing, if at all. If you've also come to that realization, you're in luck, because today you can view this interactive graph of Excelerate Energy's earnings per share history for free.</p>
<div class="lb-trans"><p>好消息是，Excelerate Energy 显示出增长 EBIT 的能力让我们像小狗让幼儿开心一样高兴。但从更严肃的角度来看，我们对其利息覆盖率有些担忧。综合考虑上述所有因素，我们认为 Excelerate Energy 能够相对轻松地处理其债务。当然，虽然这种杠杆可以增强股本回报，但也带来了更多风险，因此值得关注。在所有其他指标中，我们认为跟踪每股收益的增长速度是重要的。如果您也意识到了这一点，那么您很幸运，因为今天您可以免费查看 Excelerate Energy 每股收益历史的互动图表。</p>
</div><p>When all is said and done, sometimes its easier to focus on companies that don't even need debt. Readers can access a list of growth stocks with zero net debt <strong>100% free</strong>, right now.</p>
<div class="lb-trans"><p>说到底，有时关注那些根本不需要债务的公司更容易。读者现在可以访问一份零净债务的成长股名单，<strong>完全免费</strong>。</p>
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<div class="lb-trans"><p>国防和灾难的移动基础设施</p>
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<div class="lb-trans"><p>在下一轮合同之前获取投资者简报</p>
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Excelerate Energy (NYSE:EE) 的资产负债表相当稳健