<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损失。’ 在审视一家公司的风险时，考虑其资产负债表是很自然的，因为债务往往与企业的崩溃有关。与许多其他公司一样，<strong>Hims &amp; Hers Health, Inc.</strong>（纽约证券交易所代码：HIMS）也使用债务。但真正的问题是，这些债务是否使公司变得风险更大。</p>
<p>特朗普承诺要 “释放” 美国的石油和天然气，这 15 只美国股票的发展有望受益。</p>
<h2>何时债务成为问题？</h2>
<p>债务是帮助企业成长的工具，但如果企业无法偿还其债权人，那么它就处于他们的掌控之中。在最坏的情况下，如果公司无法偿还债务，它可能会破产。然而，更常见（但仍然痛苦）的情况是，它不得不以低价筹集新的股本，从而永久稀释股东的权益。当然，债务在企业中可以是一个重要的工具，特别是在资本密集型企业中。考虑企业使用多少债务时，首先要查看其现金和债务的总和。</p>
<h2>Hims &amp; Hers Health 的债务有多少？</h2>
<p>您可以点击下面的图表查看历史数据，但它显示截至 2025 年 9 月，Hims &amp; Hers Health 的债务为 9.71 亿美元，较一年前没有增加。另一方面，它拥有 6.297 亿美元的现金，导致净债务约为 3.413 亿美元。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/542604862-debt-equity-history-analysis-1-dark-2/1767450756556?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/542604862-debt-equity-history-analysis-1-dark-2/1767450756556"/></p>
<p>纽约证券交易所：HIMS 债务与股本历史 2026 年 1 月 3 日</p>
<h2>Hims &amp; Hers Health 的资产负债表有多健康？</h2>
<p>我们可以从最新的资产负债表中看到，Hims &amp; Hers Health 有 4.508 亿美元的负债将在一年内到期，以及 12 亿美元的负债将在之后到期。抵消这些义务，它拥有 6.297 亿美元的现金以及价值 4130 万美元的应收账款将在 12 个月内到期。因此，它的负债总额比现金和短期应收账款的总和多出 9.812 亿美元。</p>
<p>考虑到 Hims &amp; Hers Health 的市值为 73.9 亿美元，很难相信这些负债会构成太大威胁。然而，我们确实认为值得关注其资产负债表的强度，因为它可能会随着时间的推移而变化。</p>
<p>查看我们对 Hims &amp; Hers Health 的最新分析</p>
<p>我们使用两个主要比率来告知我们关于债务水平相对于收益的情况。第一个是净债务除以息税折旧摊销前利润（EBITDA），第二个是其息税前利润（EBIT）覆盖其利息支出的次数（或简称利息覆盖）。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>Hims &amp; Hers Health 的净债务与 EBITDA 比率约为 2.0，表明其债务使用仅为适度。而其强劲的利息覆盖率为 1000 倍，让我们更加安心。令人高兴的是，Hims &amp; Hers Health 的 EBIT 增长速度超过了前澳大利亚总理鲍勃·霍克喝下大杯酒的速度，在过去 12 个月中增长了 166%。在分析债务水平时，资产负债表显然是一个明显的起点。但未来的收益，尤其是将决定 Hims &amp; Hers Health 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，一家公司只能用现金偿还债务，而不是会计利润。因此，我们显然需要查看 EBIT 是否带来了相应的自由现金流。在过去两年中，Hims &amp; Hers Health 实际上产生的自由现金流超过了 EBIT。这种强劲的现金转化让我们像在 Daft Punk 音乐会上人群欢呼时一样兴奋。</p>
<h2>我们的看法</h2>
<p>好消息是，Hims &amp; Hers Health 展示了用其 EBIT 覆盖利息支出的能力，让我们感到高兴，就像一只毛茸茸的小狗让幼儿开心一样。好消息并不止于此，因为其 EBIT 转化为自由现金流的能力也支持了这一印象！我们还注意到，像 Hims &amp; Hers Health 这样的医疗行业公司通常会使用债务而没有问题。考虑到这一系列因素，我们认为 Hims &amp; Hers Health 在债务方面相当谨慎，风险似乎得到了良好的管理。因此，我们并不担心资产负债表上使用少量杠杆。在分析债务水平时，资产负债表显然是一个明显的起点。然而，并非所有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>Hims &amp; Hers Health 的一个警告信号</strong>，您应该了解。</p>
<p>当然，如果您是那种喜欢购买没有债务负担的股票的投资者，那么请不要犹豫，今天就来发现我们独家的净现金增长股票列表。</p>
<p>用于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。它是完全自主的塔楼，在 30 分钟内提供 5G、ISR 和雷达，随处可用。</p>
<p>在下一轮合同之前获取投资者简报</p>
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HIMS

<p>Hims & Hers Health（纽约证券交易所代码：HIMS）的净债务约为 3.413 亿美元，债务总额为 9.71 亿美元，现金为 6.297 亿美元。该公司的负债总额为 9.812 亿美元，但其市值为 73.9 亿美元，表明这些负债是可控的。Hims & Hers Health 的净债务与 EBITDA 比率约为 2.0，表明债务使用适中，且其利息覆盖率高达 1000 倍。该公司在过去一年中表现出令人印象深刻的 EBIT 增长，达 166%，并且其将 EBIT 转化为自由现金流的能力强，表明其债务管理谨慎</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.' 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. As with many other companies <strong>Hims &amp; Hers Health, Inc.</strong> (NYSE:HIMS) makes use of debt. But the real question is whether this debt is making the company risky.</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损失。’ 在审视一家公司的风险时，考虑其资产负债表是很自然的，因为债务往往与企业的崩溃有关。与许多其他公司一样，<strong>Hims &amp; Hers Health, Inc.</strong>（纽约证券交易所代码：HIMS）也使用债务。但真正的问题是，这些债务是否使公司变得风险更大。</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 只美国股票的发展有望受益。</p>
</div><h2>When Is Debt A Problem?</h2>
<div class="lb-trans"><h2>何时债务成为问题？</h2>
</div><p>Debt is a tool to help businesses grow, but if a business is incapable of paying off its lenders, then it exists at their mercy. In the worst case scenario, a company can go bankrupt if it cannot pay its creditors. However, a more common (but still painful) scenario is that it has to raise new equity capital at a low price, thus permanently diluting shareholders. Of course, debt can be an important tool in businesses, particularly capital heavy businesses. The first thing to do when considering how much debt a business uses is to look at its cash and debt together.</p>
<div class="lb-trans"><p>债务是帮助企业成长的工具，但如果企业无法偿还其债权人，那么它就处于他们的掌控之中。在最坏的情况下，如果公司无法偿还债务，它可能会破产。然而，更常见（但仍然痛苦）的情况是，它不得不以低价筹集新的股本，从而永久稀释股东的权益。当然，债务在企业中可以是一个重要的工具，特别是在资本密集型企业中。考虑企业使用多少债务时，首先要查看其现金和债务的总和。</p>
</div><h2>How Much Debt Does Hims &amp; Hers Health Carry?</h2>
<div class="lb-trans"><h2>Hims &amp; Hers Health 的债务有多少？</h2>
</div><p>You can click the graphic below for the historical numbers, but it shows that as of September 2025 Hims &amp; Hers Health had US$971.0m of debt, an increase on none, over one year. On the flip side, it has US$629.7m in cash leading to net debt of about US$341.3m.</p>
<div class="lb-trans"><p>您可以点击下面的图表查看历史数据，但它显示截至 2025 年 9 月，Hims &amp; Hers Health 的债务为 9.71 亿美元，较一年前没有增加。另一方面，它拥有 6.297 亿美元的现金，导致净债务约为 3.413 亿美元。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/542604862-debt-equity-history-analysis-1-dark-2/1767450756556" alt="" original-src="https://images.simplywall.st/asset/chart/542604862-debt-equity-history-analysis-1-dark-2/1767450756556"/></p>
<p>NYSE:HIMS Debt to Equity History January 3rd 2026</p>
<div class="lb-trans"><p>纽约证券交易所：HIMS 债务与股本历史 2026 年 1 月 3 日</p>
</div><h2>How Healthy Is Hims &amp; Hers Health's Balance Sheet?</h2>
<div class="lb-trans"><h2>Hims &amp; Hers Health 的资产负债表有多健康？</h2>
</div><p>We can see from the most recent balance sheet that Hims &amp; Hers Health had liabilities of US$450.8m falling due within a year, and liabilities of US$1.20b due beyond that. Offsetting these obligations, it had cash of US$629.7m as well as receivables valued at US$41.3m due within 12 months. So it has liabilities totalling US$981.2m 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，Hims &amp; Hers Health 有 4.508 亿美元的负债将在一年内到期，以及 12 亿美元的负债将在之后到期。抵消这些义务，它拥有 6.297 亿美元的现金以及价值 4130 万美元的应收账款将在 12 个月内到期。因此，它的负债总额比现金和短期应收账款的总和多出 9.812 亿美元。</p>
</div><p>Given Hims &amp; Hers Health has a market capitalization of US$7.39b, it's hard to believe these liabilities pose much threat. However, we do think it is worth keeping an eye on its balance sheet strength, as it may change over time.</p>
<div class="lb-trans"><p>考虑到 Hims &amp; Hers Health 的市值为 73.9 亿美元，很难相信这些负债会构成太大威胁。然而，我们确实认为值得关注其资产负债表的强度，因为它可能会随着时间的推移而变化。</p>
</div><p>View our latest analysis for Hims &amp; Hers Health</p>
<div class="lb-trans"><p>查看我们对 Hims &amp; Hers Health 的最新分析</p>
</div><p>We use two main ratios to inform us about debt levels relative to earnings. The first is net debt divided by earnings before interest, tax, depreciation, and amortization (EBITDA), while the second is how many times its earnings before interest and tax (EBIT) covers its interest expense (or its interest cover, for short). Thus we consider debt relative to earnings both with and without depreciation and amortization expenses.</p>
<div class="lb-trans"><p>我们使用两个主要比率来告知我们关于债务水平相对于收益的情况。第一个是净债务除以息税折旧摊销前利润（EBITDA），第二个是其息税前利润（EBIT）覆盖其利息支出的次数（或简称利息覆盖）。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>Hims &amp; Hers Health's net debt to EBITDA ratio of about 2.0 suggests only moderate use of debt. And its strong interest cover of 1k times, makes us even more comfortable. Pleasingly, Hims &amp; Hers Health is growing its EBIT faster than former Australian PM Bob Hawke downs a yard glass, boasting a 166% gain in the last twelve months. When analysing debt levels, the balance sheet is the obvious place to start. But it is future earnings, more than anything, that will determine Hims &amp; Hers Health'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>Hims &amp; Hers Health 的净债务与 EBITDA 比率约为 2.0，表明其债务使用仅为适度。而其强劲的利息覆盖率为 1000 倍，让我们更加安心。令人高兴的是，Hims &amp; Hers Health 的 EBIT 增长速度超过了前澳大利亚总理鲍勃·霍克喝下大杯酒的速度，在过去 12 个月中增长了 166%。在分析债务水平时，资产负债表显然是一个明显的起点。但未来的收益，尤其是将决定 Hims &amp; Hers Health 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, a company can only pay off debt with cold hard cash, not accounting profits. So we clearly need to look at whether that EBIT is leading to corresponding free cash flow. Over the last two years, Hims &amp; Hers Health actually produced more free cash flow than EBIT. That sort of strong cash conversion gets us as excited as the crowd when the beat drops at a Daft Punk concert.</p>
<div class="lb-trans"><p>最后，一家公司只能用现金偿还债务，而不是会计利润。因此，我们显然需要查看 EBIT 是否带来了相应的自由现金流。在过去两年中，Hims &amp; Hers Health 实际上产生的自由现金流超过了 EBIT。这种强劲的现金转化让我们像在 Daft Punk 音乐会上人群欢呼时一样兴奋。</p>
</div><h2>Our View</h2>
<div class="lb-trans"><h2>我们的看法</h2>
</div><p>The good news is that Hims &amp; Hers Health's demonstrated ability to cover its interest expense with its EBIT delights us like a fluffy puppy does a toddler. And the good news does not stop there, as its conversion of EBIT to free cash flow also supports that impression! We would also note that Healthcare industry companies like Hims &amp; Hers Health commonly do use debt without problems. Considering this range of factors, it seems to us that Hims &amp; Hers Health is quite prudent with its debt, and the risks seem well managed. So we're not worried about the use of a little leverage on the balance sheet. When analysing debt levels, the balance sheet is the obvious place to start. 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 Hims &amp; Hers Health</strong> you should know about.</p>
<div class="lb-trans"><p>好消息是，Hims &amp; Hers Health 展示了用其 EBIT 覆盖利息支出的能力，让我们感到高兴，就像一只毛茸茸的小狗让幼儿开心一样。好消息并不止于此，因为其 EBIT 转化为自由现金流的能力也支持了这一印象！我们还注意到，像 Hims &amp; Hers Health 这样的医疗行业公司通常会使用债务而没有问题。考虑到这一系列因素，我们认为 Hims &amp; Hers Health 在债务方面相当谨慎，风险似乎得到了良好的管理。因此，我们并不担心资产负债表上使用少量杠杆。在分析债务水平时，资产负债表显然是一个明显的起点。然而，并非所有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>Hims &amp; Hers Health 的一个警告信号</strong>，您应该了解。</p>
</div><p>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.</p>
<div class="lb-trans"><p>当然，如果您是那种喜欢购买没有债务负担的股票的投资者，那么请不要犹豫，今天就来发现我们独家的净现金增长股票列表。</p>
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<div class="lb-trans"><p>用于国防和灾难的移动基础设施</p>
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<div class="lb-trans"><p>下一波机器人技术不是类人型的。它是完全自主的塔楼，在 30 分钟内提供 5G、ISR 和雷达，随处可用。</p>
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Hims & Hers Health (NYSE:HIMS) 似乎在使用债务方面相当谨慎