<p>大卫·伊本说得很好，‘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。’ 因此，当你考虑任何特定股票的风险时，考虑债务可能是显而易见的，因为过多的债务可能会使公司陷入困境。与许多其他公司一样，<strong>Zurn Elkay Water Solutions Corporation</strong> (NYSE:ZWS) 也利用债务。但这笔债务对股东来说是个问题吗？</p>
<p>这项技术可能会取代计算机：发现 20 只正在努力使量子计算成为现实的股票。</p>
<h2>为什么债务带来风险？</h2>
<p>债务在企业能够用新资本或自由现金流偿还之前，能够帮助企业。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，公司必须以低廉的价格发行股票，永久性稀释股东权益，仅仅是为了巩固其资产负债表。尽管如此，最常见的情况是公司合理管理其债务，并使其对自身有利。当我们审视债务水平时，我们首先考虑现金和债务水平的结合。</p>
<h2>Zurn Elkay Water Solutions 的净债务是多少？</h2>
<p>如您所见，Zurn Elkay Water Solutions 在 2025 年 9 月的债务为 4.761 亿美元，与前一年大致相同。您可以点击图表以获取更多详细信息。然而，它也有 2.601 亿美元的现金，因此其净债务为 2.16 亿美元。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/46888354-debt-equity-history-analysis-1-dark-2/1768923086367?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/46888354-debt-equity-history-analysis-1-dark-2/1768923086367"/></p>
<p>NYSE:ZWS 债务与股本历史 2026 年 1 月 20 日</p>
<h2>Zurn Elkay Water Solutions 的资产负债表健康状况如何？</h2>
<p>根据最后报告的资产负债表，Zurn Elkay Water Solutions 有 2.882 亿美元的负债在 12 个月内到期，以及 8.043 亿美元的负债在 12 个月后到期。抵消这一点的是它有 2.601 亿美元的现金和 2.381 亿美元的应收账款，这些应收账款在 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 5.943 亿美元。</p>
<p>由于公开交易的 Zurn Elkay Water Solutions 股票总值为 79.1 亿美元，因此这种负债水平似乎不太可能构成重大威胁。尽管如此，显然我们应该继续监控其资产负债表，以免情况变得更糟。</p>
<p>查看我们对 Zurn Elkay Water Solutions 的最新分析</p>
<p>为了评估公司的债务相对于其收益的规模，我们计算其净债务与息税折旧摊销前利润（EBITDA）的比率，以及息税前利润（EBIT）与其利息费用（利息覆盖率）的比率。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>净债务仅为 EBITDA 的 0.59 倍，Zurn Elkay Water Solutions 可以说是相当保守地使用杠杆。而且它的利息覆盖率为 9.3 倍，远远足够。幸运的是，Zurn Elkay Water Solutions 在过去一年中将其 EBIT 增长了 10.0%，使得这笔债务负担看起来更加可控。在分析债务水平时，资产负债表显然是一个明显的起点。但最终，企业的未来盈利能力将决定 Zurn Elkay Water Solutions 是否能够随着时间的推移加强其资产负债表。因此，如果您想了解专业人士的看法，您可能会发现这份关于分析师利润预测的免费报告很有趣。</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，我们显然需要查看 EBIT 是否导致相应的自由现金流。幸运的是，对于任何股东来说，Zurn Elkay Water Solutions 实际上在过去三年中产生的自由现金流超过了 EBIT。在保持与贷款人良好关系方面，没有什么比现金流入更重要的了。</p>
<h2>我们的观点</h2>
<p>幸运的是，Zurn Elkay Water Solutions 在 EBIT 转化为自由现金流方面的出色表现意味着它在债务方面占据了上风。这只是好消息的开始，因为其净债务与 EBITDA 的比率也非常令人鼓舞。从更大的角度来看，我们认为 Zurn Elkay Water Solutions 的债务使用似乎相当合理，我们对此并不担忧。虽然债务确实带来风险，但如果使用得当，它也可以带来更高的股本回报。毫无疑问，我们从资产负债表中学到了大部分关于债务的知识。然而，并非所有投资风险都存在于资产负债表中——远非如此。举个例子：我们发现了 <strong>Zurn Elkay Water Solutions 的 1 个警告信号</strong>，您应该注意。</p>
<p>如果您有兴趣投资那些能够在没有债务负担的情况下增长利润的企业，请查看这份 <strong>免费</strong> 的现金净额增长企业名单。</p>

<p>Zurn Elkay Water Solutions（纽约证券交易所代码：ZWS）的净债务为 2.16 亿美元，总债务为 4.761 亿美元，现金为 2.601 亿美元。其负债超过现金和应收账款 5.943 亿美元，但公司的市场价值为 79.1 亿美元，表明风险可控。Zurn Elkay 的净债务与 EBITDA 比率为 0.59，利息覆盖率为 9.3，显示出其债务水平相对保守。该公司还显示出 10% 的 EBIT 增长，表明其财务健康状况良好且债务管理有效，尽管有一个警示信号被注意到</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 might be obvious that you need to consider debt, when you think about how risky any given stock is, because too much debt can sink a company. As with many other companies <strong>Zurn Elkay Water Solutions Corporation</strong> (NYSE:ZWS) makes use of debt. But is this debt a concern to shareholders?</p>
<div class="lb-trans"><p>大卫·伊本说得很好，‘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。’ 因此，当你考虑任何特定股票的风险时，考虑债务可能是显而易见的，因为过多的债务可能会使公司陷入困境。与许多其他公司一样，<strong>Zurn Elkay Water Solutions Corporation</strong> (NYSE:ZWS) 也利用债务。但这笔债务对股东来说是个问题吗？</p>
</div><p>This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality.</p>
<div class="lb-trans"><p>这项技术可能会取代计算机：发现 20 只正在努力使量子计算成为现实的股票。</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. Having said that, the most common situation is where a company manages its debt reasonably well - and to its own advantage. When we examine debt levels, we first consider both cash and debt levels, together.</p>
<div class="lb-trans"><p>债务在企业能够用新资本或自由现金流偿还之前，能够帮助企业。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，公司必须以低廉的价格发行股票，永久性稀释股东权益，仅仅是为了巩固其资产负债表。尽管如此，最常见的情况是公司合理管理其债务，并使其对自身有利。当我们审视债务水平时，我们首先考虑现金和债务水平的结合。</p>
</div><h2>What Is Zurn Elkay Water Solutions's Net Debt?</h2>
<div class="lb-trans"><h2>Zurn Elkay Water Solutions 的净债务是多少？</h2>
</div><p>As you can see below, Zurn Elkay Water Solutions had US$476.1m of debt, at September 2025, which is about the same as the year before. You can click the chart for greater detail. However, it also had US$260.1m in cash, and so its net debt is US$216.0m.</p>
<div class="lb-trans"><p>如您所见，Zurn Elkay Water Solutions 在 2025 年 9 月的债务为 4.761 亿美元，与前一年大致相同。您可以点击图表以获取更多详细信息。然而，它也有 2.601 亿美元的现金，因此其净债务为 2.16 亿美元。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/46888354-debt-equity-history-analysis-1-dark-2/1768923086367" alt="" original-src="https://images.simplywall.st/asset/chart/46888354-debt-equity-history-analysis-1-dark-2/1768923086367"/></p>
<p>NYSE:ZWS Debt to Equity History January 20th 2026</p>
<div class="lb-trans"><p>NYSE:ZWS 债务与股本历史 2026 年 1 月 20 日</p>
</div><h2>How Healthy Is Zurn Elkay Water Solutions' Balance Sheet?</h2>
<div class="lb-trans"><h2>Zurn Elkay Water Solutions 的资产负债表健康状况如何？</h2>
</div><p>According to the last reported balance sheet, Zurn Elkay Water Solutions had liabilities of US$288.2m due within 12 months, and liabilities of US$804.3m due beyond 12 months. Offsetting this, it had US$260.1m in cash and US$238.1m in receivables that were due within 12 months. So its liabilities total US$594.3m more than the combination of its cash and short-term receivables.</p>
<div class="lb-trans"><p>根据最后报告的资产负债表，Zurn Elkay Water Solutions 有 2.882 亿美元的负债在 12 个月内到期，以及 8.043 亿美元的负债在 12 个月后到期。抵消这一点的是它有 2.601 亿美元的现金和 2.381 亿美元的应收账款，这些应收账款在 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 5.943 亿美元。</p>
</div><p>Since publicly traded Zurn Elkay Water Solutions shares are worth a total of US$7.91b, it seems unlikely that this level of liabilities would be a major threat. Having said that, it's clear that we should continue to monitor its balance sheet, lest it change for the worse.</p>
<div class="lb-trans"><p>由于公开交易的 Zurn Elkay Water Solutions 股票总值为 79.1 亿美元，因此这种负债水平似乎不太可能构成重大威胁。尽管如此，显然我们应该继续监控其资产负债表，以免情况变得更糟。</p>
</div><p>View our latest analysis for Zurn Elkay Water Solutions</p>
<div class="lb-trans"><p>查看我们对 Zurn Elkay Water Solutions 的最新分析</p>
</div><p>In order to size up a company's debt relative to its earnings, we calculate its net debt divided by its earnings before interest, tax, depreciation, and amortization (EBITDA) and its earnings before interest and tax (EBIT) divided by its interest expense (its interest cover). Thus we consider debt relative to earnings both with and without depreciation and amortization expenses.</p>
<div class="lb-trans"><p>为了评估公司的债务相对于其收益的规模，我们计算其净债务与息税折旧摊销前利润（EBITDA）的比率，以及息税前利润（EBIT）与其利息费用（利息覆盖率）的比率。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>With net debt sitting at just 0.59 times EBITDA, Zurn Elkay Water Solutions is arguably pretty conservatively geared. And it boasts interest cover of 9.3 times, which is more than adequate. Fortunately, Zurn Elkay Water Solutions grew its EBIT by 10.0% in the last year, making that debt load look even more manageable. When analysing debt levels, the balance sheet is the obvious place to start. But ultimately the future profitability of the business will decide if Zurn Elkay Water Solutions can strengthen its balance sheet over time. So if you want to see what the professionals think, you might find this free report on analyst profit forecasts to be interesting.</p>
<div class="lb-trans"><p>净债务仅为 EBITDA 的 0.59 倍，Zurn Elkay Water Solutions 可以说是相当保守地使用杠杆。而且它的利息覆盖率为 9.3 倍，远远足够。幸运的是，Zurn Elkay Water Solutions 在过去一年中将其 EBIT 增长了 10.0%，使得这笔债务负担看起来更加可控。在分析债务水平时，资产负债表显然是一个明显的起点。但最终，企业的未来盈利能力将决定 Zurn Elkay Water Solutions 是否能够随着时间的推移加强其资产负债表。因此，如果您想了解专业人士的看法，您可能会发现这份关于分析师利润预测的免费报告很有趣。</p>
</div><p>Finally, while the tax-man may adore accounting profits, lenders only accept cold hard cash. So we clearly need to look at whether that EBIT is leading to corresponding free cash flow. Happily for any shareholders, Zurn Elkay Water Solutions actually produced more free cash flow than EBIT over the last three years. There's nothing better than incoming cash when it comes to staying in your lenders' good graces.</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，我们显然需要查看 EBIT 是否导致相应的自由现金流。幸运的是，对于任何股东来说，Zurn Elkay Water Solutions 实际上在过去三年中产生的自由现金流超过了 EBIT。在保持与贷款人良好关系方面，没有什么比现金流入更重要的了。</p>
</div><h2>Our View</h2>
<div class="lb-trans"><h2>我们的观点</h2>
</div><p>Happily, Zurn Elkay Water Solutions's impressive conversion of EBIT to free cash flow implies it has the upper hand on its debt. And that's just the beginning of the good news since its net debt to EBITDA is also very heartening. Looking at the bigger picture, we think Zurn Elkay Water Solutions's use of debt seems quite reasonable and we're not concerned about it. While debt does bring risk, when used wisely it can also bring a higher return on equity. 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. Case in point: We've spotted <strong>1 warning sign for Zurn Elkay Water Solutions</strong> you should be aware of.</p>
<div class="lb-trans"><p>幸运的是，Zurn Elkay Water Solutions 在 EBIT 转化为自由现金流方面的出色表现意味着它在债务方面占据了上风。这只是好消息的开始，因为其净债务与 EBITDA 的比率也非常令人鼓舞。从更大的角度来看，我们认为 Zurn Elkay Water Solutions 的债务使用似乎相当合理，我们对此并不担忧。虽然债务确实带来风险，但如果使用得当，它也可以带来更高的股本回报。毫无疑问，我们从资产负债表中学到了大部分关于债务的知识。然而，并非所有投资风险都存在于资产负债表中——远非如此。举个例子：我们发现了 <strong>Zurn Elkay Water Solutions 的 1 个警告信号</strong>，您应该注意。</p>
</div><p>If you're interested in investing in businesses that can grow profits without the burden of debt, then check out this <strong>free</strong> list of growing businesses that have net cash on the balance sheet.</p>
<div class="lb-trans"><p>如果您有兴趣投资那些能够在没有债务负担的情况下增长利润的企业，请查看这份 <strong>免费</strong> 的现金净额增长企业名单。</p>
</div>

我们认为 Zurn Elkay Water Solutions（NYSE:ZWS）能够继续有效管理其债务