<p>即使一家公司在虧損，股東也有可能通過以合適的價格購買一家優秀的企業而獲利。例如，生物技術和礦業勘探公司在找到新的治療方法或礦物發現之前，往往會虧損多年。但殘酷的現實是，許多虧損公司會耗盡所有現金並破產。</p>
<p>那麼，<strong>UT 斯達康</strong>（NASDAQ:UTSI）的股東是否應該擔心其現金消耗？在本文中，我們將現金消耗定義為其年度（負）自由現金流，即公司每年用於資助其增長的資金。讓我們先來審視一下該公司的現金與其現金消耗的關係。</p>
<p>特朗普承諾要 “釋放” 美國的石油和天然氣，這 15 只美國股票的發展有望受益。</p>
<h2>UT 斯達康的現金儲備能維持多久？</h2>
<p>你可以通過將公司擁有的現金總額除以其消耗現金的速度來計算公司的現金儲備。截至 2024 年 12 月，UT 斯達康擁有 4400 萬美元的現金且沒有債務。回顧過去一年，該公司消耗了 460 萬美元的現金。因此，從 2024 年 12 月起，它的現金儲備可以維持 9.6 年。儘管這只是公司現金消耗的一個衡量標準，但想到如此長的現金儲備讓我們感到安心。下圖展示了其現金持有量隨時間的變化。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/98492-debt-equity-history-analysis-1-dark-2/1751112372050?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/98492-debt-equity-history-analysis-1-dark-2/1751112372050"/></p>
<p>NasdaqGS:UTSI 債務與股本歷史 2025 年 6 月 28 日</p>
<p>查看我們對 UT 斯達康的最新分析</p>
<h2>UT 斯達康的增長情況如何？</h2>
<p>總體來看，我們認為 UT 斯達康在過去 12 個月內將現金消耗減少了 2.5% 是略微積極的。然而，不幸的是，運營收入在此期間下降了 31%。考慮到這兩個指標，我們對公司的發展有些擔憂。實際上，本文僅對公司的增長數據進行了簡要研究。這張歷史收益和收入的圖表展示了 UT 斯達康如何隨着時間的推移建立其業務。</p>
<h2>UT 斯達康能否輕鬆籌集更多現金？</h2>
<p>在現金消耗方面，UT 斯達康似乎處於相對良好的位置，但我們仍然認為考慮它如果想要籌集更多資金的難易程度是值得的。發行新股或借債是上市公司為其業務籌集更多資金的最常見方式。許多公司最終會發行新股以資助未來的增長。通過將公司的年度現金消耗與其總市值進行比較，我們可以大致估算出它需要發行多少股份才能在相同的消耗率下再運營一年。</p>
<p>由於其市值為 2300 萬美元，UT 斯達康的 460 萬美元現金消耗約佔其市場價值的 20%。鑑於這種情況，可以公平地説，該公司在為增長籌集更多現金方面不會遇到太大困難，但股東的股份會有所稀釋。</p>
<h2>UT 斯達康的現金消耗情況有多風險？</h2>
<p>在對 UT 斯達康現金消耗的分析中，我們認為其現金儲備令人安心，但其收入下降讓我們有些擔憂。現金消耗的公司總是處於風險較高的一方，但在考慮到本文討論的所有因素後，我們對其現金消耗的速度並不太擔心。讀者在投資股票之前需要對商業風險有清晰的理解，我們發現了 <strong>UT 斯達康的 1 個警示信號</strong>，潛在股東在投資前應考慮這一點。</p>
<p>如果你更願意查看其他基本面更好的公司，請不要錯過這份 <strong>免費</strong> 的有趣公司名單，這些公司具有高股本回報率和低債務，或者這份所有預計將增長的股票名單。</p>

UT斯達康

<p>UT 斯達康（NASDAQ:UTSI）擁有 9.6 年的現金儲備，現金總額為 4400 萬美元，年現金消耗為 460 萬美元。儘管現金消耗減少了 2.5%，但公司運營收入卻下降了 31%，引發了對其增長的擔憂。雖然公司可以通過發行股票或債務籌集更多資金，但這將稀釋現有股東的權益。總體而言，現金消耗情況似乎可控，但潛在投資者在投資前應注意相關風險和一個警示信號</p>

<p>Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the right price. For example, biotech and mining exploration companies often lose money for years before finding success with a new treatment or mineral discovery. But the harsh reality is that very many loss making companies burn through all their cash and go bankrupt.</p>
<div class="lb-trans"><p>即使一家公司在虧損，股東也有可能通過以合適的價格購買一家優秀的企業而獲利。例如，生物技術和礦業勘探公司在找到新的治療方法或礦物發現之前，往往會虧損多年。但殘酷的現實是，許多虧損公司會耗盡所有現金並破產。</p>
</div><p>So should <strong>UTStarcom Holdings</strong> (NASDAQ:UTSI) shareholders be worried about its cash burn? In this article, we define cash burn as its annual (negative) free cash flow, which is the amount of money a company spends each year to fund its growth. Let's start with an examination of the business' cash, relative to its cash burn.</p>
<div class="lb-trans"><p>那麼，<strong>UT 斯達康</strong>（NASDAQ:UTSI）的股東是否應該擔心其現金消耗？在本文中，我們將現金消耗定義為其年度（負）自由現金流，即公司每年用於資助其增長的資金。讓我們先來審視一下該公司的現金與其現金消耗的關係。</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>特朗普承諾要 “釋放” 美國的石油和天然氣，這 15 只美國股票的發展有望受益。</p>
</div><h2>How Long Is UTStarcom Holdings' Cash Runway?</h2>
<div class="lb-trans"><h2>UT 斯達康的現金儲備能維持多久？</h2>
</div><p>You can calculate a company's cash runway by dividing the amount of cash it has by the rate at which it is spending that cash. As at December 2024, UTStarcom Holdings had cash of US$44m and no debt. Looking at the last year, the company burnt through US$4.6m. Therefore, from December 2024 it had 9.6 years of cash runway. Even though this is but one measure of the company's cash burn, the thought of such a long cash runway warms our bellies in a comforting way. Depicted below, you can see how its cash holdings have changed over time.</p>
<div class="lb-trans"><p>你可以通過將公司擁有的現金總額除以其消耗現金的速度來計算公司的現金儲備。截至 2024 年 12 月，UT 斯達康擁有 4400 萬美元的現金且沒有債務。回顧過去一年，該公司消耗了 460 萬美元的現金。因此，從 2024 年 12 月起，它的現金儲備可以維持 9.6 年。儘管這只是公司現金消耗的一個衡量標準，但想到如此長的現金儲備讓我們感到安心。下圖展示了其現金持有量隨時間的變化。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/98492-debt-equity-history-analysis-1-dark-2/1751112372050" alt="" original-src="https://images.simplywall.st/asset/chart/98492-debt-equity-history-analysis-1-dark-2/1751112372050"/></p>
<p>NasdaqGS:UTSI Debt to Equity History June 28th 2025</p>
<div class="lb-trans"><p>NasdaqGS:UTSI 債務與股本歷史 2025 年 6 月 28 日</p>
</div><p>Check out our latest analysis for UTStarcom Holdings</p>
<div class="lb-trans"><p>查看我們對 UT 斯達康的最新分析</p>
</div><h2>How Well Is UTStarcom Holdings Growing?</h2>
<div class="lb-trans"><h2>UT 斯達康的增長情況如何？</h2>
</div><p>On balance, we think it's mildly positive that UTStarcom Holdings trimmed its cash burn by 2.5% over the last twelve months. Unfortunately, however, operating revenue declined by 31% during the period. Considering both these metrics, we're a little concerned about how the company is developing. In reality, this article only makes a short study of the company's growth data. This graph of historic earnings and revenue shows how UTStarcom Holdings is building its business over time.</p>
<div class="lb-trans"><p>總體來看，我們認為 UT 斯達康在過去 12 個月內將現金消耗減少了 2.5% 是略微積極的。然而，不幸的是，運營收入在此期間下降了 31%。考慮到這兩個指標，我們對公司的發展有些擔憂。實際上，本文僅對公司的增長數據進行了簡要研究。這張歷史收益和收入的圖表展示了 UT 斯達康如何隨着時間的推移建立其業務。</p>
</div><h2>Can UTStarcom Holdings Raise More Cash Easily?</h2>
<div class="lb-trans"><h2>UT 斯達康能否輕鬆籌集更多現金？</h2>
</div><p>UTStarcom Holdings seems to be in a fairly good position, in terms of cash burn, but we still think it's worthwhile considering how easily it could raise more money if it wanted to. Issuing new shares, or taking on debt, are the most common ways for a listed company to raise more money for its business. Many companies end up issuing new shares to fund future growth. By comparing a company's annual cash burn to its total market capitalisation, we can estimate roughly how many shares it would have to issue in order to run the company for another year (at the same burn rate).</p>
<div class="lb-trans"><p>在現金消耗方面，UT 斯達康似乎處於相對良好的位置，但我們仍然認為考慮它如果想要籌集更多資金的難易程度是值得的。發行新股或借債是上市公司為其業務籌集更多資金的最常見方式。許多公司最終會發行新股以資助未來的增長。通過將公司的年度現金消耗與其總市值進行比較，我們可以大致估算出它需要發行多少股份才能在相同的消耗率下再運營一年。</p>
</div><p>Since it has a market capitalisation of US$23m, UTStarcom Holdings' US$4.6m in cash burn equates to about 20% of its market value. Given that situation, it's fair to say the company wouldn't have much trouble raising more cash for growth, but shareholders would be somewhat diluted.</p>
<div class="lb-trans"><p>由於其市值為 2300 萬美元，UT 斯達康的 460 萬美元現金消耗約佔其市場價值的 20%。鑑於這種情況，可以公平地説，該公司在為增長籌集更多現金方面不會遇到太大困難，但股東的股份會有所稀釋。</p>
</div><h2>How Risky Is UTStarcom Holdings' Cash Burn Situation?</h2>
<div class="lb-trans"><h2>UT 斯達康的現金消耗情況有多風險？</h2>
</div><p>On this analysis of UTStarcom Holdings' cash burn, we think its cash runway was reassuring, while its falling revenue has us a bit worried. Cash burning companies are always on the riskier side of things, but after considering all of the factors discussed in this short piece, we're not too worried about its rate of cash burn. Readers need to have a sound understanding of business risks before investing in a stock, and we've spotted <strong>1 warning sign for UTStarcom Holdings</strong> that potential shareholders should take into account before putting money into a stock.</p>
<div class="lb-trans"><p>在對 UT 斯達康現金消耗的分析中，我們認為其現金儲備令人安心，但其收入下降讓我們有些擔憂。現金消耗的公司總是處於風險較高的一方，但在考慮到本文討論的所有因素後，我們對其現金消耗的速度並不太擔心。讀者在投資股票之前需要對商業風險有清晰的理解，我們發現了 <strong>UT 斯達康的 1 個警示信號</strong>，潛在股東在投資前應考慮這一點。</p>
</div><p>If you would prefer to check out another company with better fundamentals, then do not miss this <strong>free</strong> list of interesting companies, that have HIGH return on equity and low debt or this list of stocks which are all forecast to grow.</p>
<div class="lb-trans"><p>如果你更願意查看其他基本面更好的公司，請不要錯過這份 <strong>免費</strong> 的有趣公司名單，這些公司具有高股本回報率和低債務，或者這份所有預計將增長的股票名單。</p>
</div>

我們對 UT 斯達康控股公司（NASDAQ: UTSI）的現金消耗率並不十分擔憂