<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 年股價與公允價值對比</p>
<p>探索來自社區的生活公允價值並選擇您的價值</p>
<p>沃倫·巴菲特曾 famously 説過，'波動性遠非風險的同義詞。' 所以聰明的錢知道，債務 - 通常與破產有關 - 是評估公司風險時非常重要的因素。我們注意到 <strong>Life Corporation</strong> (TSE:8194) 的資產負債表上確實有債務。但更重要的問題是：這些債務帶來了多少風險？</p>
<p>我們發現 21 只美國股票預計明年將支付超過 6% 的股息收益率。查看完整列表，免費獲取。</p>
<h2>債務何時成為問題？</h2>
<p>一般來説，債務只有在公司無法輕鬆償還時才會成為真正的問題，無論是通過籌集資本還是通過自身的現金流。資本主義的一個組成部分是'創造性破壞'的過程，失敗的企業會被其銀行家無情地清算。然而，更常見（但仍然昂貴）的情況是，公司必須以低廉的股價稀釋股東權益，僅僅是為了控制債務。儘管如此，最常見的情況是公司合理管理其債務，並從中獲益。當我們考慮公司的債務使用時，我們首先會將現金和債務結合起來看。</p>
<h2>Life 的債務有多少？</h2>
<p>您可以點擊下面的圖形查看歷史數據，但它顯示 Life 在 2025 年 5 月的債務為 363 億日元，較一年前的 492 億日元有所下降。然而，它也有 258 億日元的現金，因此其淨債務為 105 億日元。</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 債務與股本歷史 2025 年 8 月 18 日</p>
<h2>Life 的資產負債表有多強？</h2>
<p>我們可以從最新的資產負債表中看到，Life 有 1413 億日元的負債將在一年內到期，且有 381 億日元的負債將在此之後到期。抵消這些負債，它有 258 億日元的現金和 515 億日元的應收賬款將在 12 個月內到期。因此，它的負債總額比其現金和短期應收賬款多出 1020 億日元。</p>
<p>雖然這看起來很多，但並不算太糟，因為 Life 的市值為 2127 億日元，因此如果需要，它可能通過籌集資本來增強其資產負債表。但顯然，我們應該密切關注它是否能夠在不稀釋的情況下管理其債務。</p>
<p>查看我們對 Life 的最新分析</p>
<p>我們通過查看淨債務與息税折舊攤銷前利潤（EBITDA）的比率，以及計算息税前利潤（EBIT）覆蓋利息支出的能力，來衡量公司的債務負擔。因此，我們考慮債務相對於收益的情況，包括和不包括折舊和攤銷費用。</p>
<p>Life 的淨債務僅為其 EBITDA 的 0.25 倍。其 EBIT 輕鬆覆蓋其利息支出，達到 290 倍。因此，我們對其超保守的債務使用感到相當放鬆。好消息是，Life 在過去 12 個月中將其 EBIT 提高了 5.6%，這應該緩解對債務償還的任何擔憂。在分析債務時，資產負債表顯然是重點。但未來的收益，尤其是，將決定 Life 未來維持健康資產負債表的能力。因此，如果您關注未來，可以查看這份 <strong>免費</strong> 報告，顯示分析師的利潤預測。</p>
<p>最後，雖然税務機關可能喜歡會計利潤，但貸款人只接受冷硬的現金。因此，我們總是檢查 EBIT 中有多少轉化為自由現金流。在最近三年中，Life 記錄的自由現金流佔其 EBIT 的 68%，這在正常範圍內，因為自由現金流不包括利息和税。這一自由現金流使公司在適當的時候能夠償還債務。</p>
<h2>我們的觀點</h2>
<p>Life 的利息覆蓋率表明，它可以像克里斯蒂亞諾·羅納爾多對陣 14 歲以下守門員時那樣輕鬆處理其債務。但更嚴肅地説，我們對其總負債水平有些擔憂。當我們考慮上述各種因素時，Life 在債務使用上顯得相當理智。雖然這帶來了一些風險，但也可以增強股東的回報。毫無疑問，我們從資產負債表中學到的關於債務的知識最多。然而，並非所有的投資風險都存在於資產負債表中 - 遠非如此。這些風險可能很難發現。每家公司都有這些風險，而我們發現了 <strong>Life 的一個警告信號</strong>，您應該瞭解。</p>
<p>如果在這一切之後，您更感興趣的是一家快速增長且資產負債表穩健的公司，請立即查看我們的淨現金增長股票列表。</p>

8194

<p>生命公司（TSE:8194）在過去一年中將債務從 492 億日元減少至 363 億日元，扣除 258 億日元現金後的淨債務為 105 億日元。儘管一年內到期的負債為 1413 億日元，但其市值為 2127 億日元，表明如有需要，公司可以籌集資金。生命公司的淨債務僅為其息税折舊攤銷前利潤（EBITDA）的 0.25 倍，息税前利潤（EBIT）覆蓋利息支出 290 倍，顯示出其保守的債務管理。然而，關於總負債的擔憂依然存在，這突顯了未來收益在維持健康資產負債表中的重要性</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 年股價與公允價值對比</p>
</div><p>Explore Life's Fair Values from the Community and select yours</p>
<div class="lb-trans"><p>探索來自社區的生活公允價值並選擇您的價值</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>沃倫·巴菲特曾 famously 説過，'波動性遠非風險的同義詞。' 所以聰明的錢知道，債務 - 通常與破產有關 - 是評估公司風險時非常重要的因素。我們注意到 <strong>Life Corporation</strong> (TSE:8194) 的資產負債表上確實有債務。但更重要的問題是：這些債務帶來了多少風險？</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>我們發現 21 只美國股票預計明年將支付超過 6% 的股息收益率。查看完整列表，免費獲取。</p>
</div><h2>When Is Debt A Problem?</h2>
<div class="lb-trans"><h2>債務何時成為問題？</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>一般來説，債務只有在公司無法輕鬆償還時才會成為真正的問題，無論是通過籌集資本還是通過自身的現金流。資本主義的一個組成部分是'創造性破壞'的過程，失敗的企業會被其銀行家無情地清算。然而，更常見（但仍然昂貴）的情況是，公司必須以低廉的股價稀釋股東權益，僅僅是為了控制債務。儘管如此，最常見的情況是公司合理管理其債務，並從中獲益。當我們考慮公司的債務使用時，我們首先會將現金和債務結合起來看。</p>
</div><h2>How Much Debt Does Life Carry?</h2>
<div class="lb-trans"><h2>Life 的債務有多少？</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>您可以點擊下面的圖形查看歷史數據，但它顯示 Life 在 2025 年 5 月的債務為 363 億日元，較一年前的 492 億日元有所下降。然而，它也有 258 億日元的現金，因此其淨債務為 105 億日元。</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 債務與股本歷史 2025 年 8 月 18 日</p>
</div><h2>How Strong Is Life's Balance Sheet?</h2>
<div class="lb-trans"><h2>Life 的資產負債表有多強？</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>我們可以從最新的資產負債表中看到，Life 有 1413 億日元的負債將在一年內到期，且有 381 億日元的負債將在此之後到期。抵消這些負債，它有 258 億日元的現金和 515 億日元的應收賬款將在 12 個月內到期。因此，它的負債總額比其現金和短期應收賬款多出 1020 億日元。</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>雖然這看起來很多，但並不算太糟，因為 Life 的市值為 2127 億日元，因此如果需要，它可能通過籌集資本來增強其資產負債表。但顯然，我們應該密切關注它是否能夠在不稀釋的情況下管理其債務。</p>
</div><p>See our latest analysis for Life</p>
<div class="lb-trans"><p>查看我們對 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>我們通過查看淨債務與息税折舊攤銷前利潤（EBITDA）的比率，以及計算息税前利潤（EBIT）覆蓋利息支出的能力，來衡量公司的債務負擔。因此，我們考慮債務相對於收益的情況，包括和不包括折舊和攤銷費用。</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 的淨債務僅為其 EBITDA 的 0.25 倍。其 EBIT 輕鬆覆蓋其利息支出，達到 290 倍。因此，我們對其超保守的債務使用感到相當放鬆。好消息是，Life 在過去 12 個月中將其 EBIT 提高了 5.6%，這應該緩解對債務償還的任何擔憂。在分析債務時，資產負債表顯然是重點。但未來的收益，尤其是，將決定 Life 未來維持健康資產負債表的能力。因此，如果您關注未來，可以查看這份 <strong>免費</strong> 報告，顯示分析師的利潤預測。</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>最後，雖然税務機關可能喜歡會計利潤，但貸款人只接受冷硬的現金。因此，我們總是檢查 EBIT 中有多少轉化為自由現金流。在最近三年中，Life 記錄的自由現金流佔其 EBIT 的 68%，這在正常範圍內，因為自由現金流不包括利息和税。這一自由現金流使公司在適當的時候能夠償還債務。</p>
</div><h2>Our View</h2>
<div class="lb-trans"><h2>我們的觀點</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 的利息覆蓋率表明，它可以像克里斯蒂亞諾·羅納爾多對陣 14 歲以下守門員時那樣輕鬆處理其債務。但更嚴肅地説，我們對其總負債水平有些擔憂。當我們考慮上述各種因素時，Life 在債務使用上顯得相當理智。雖然這帶來了一些風險，但也可以增強股東的回報。毫無疑問，我們從資產負債表中學到的關於債務的知識最多。然而，並非所有的投資風險都存在於資產負債表中 - 遠非如此。這些風險可能很難發現。每家公司都有這些風險，而我們發現了 <strong>Life 的一個警告信號</strong>，您應該瞭解。</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>如果在這一切之後，您更感興趣的是一家快速增長且資產負債表穩健的公司，請立即查看我們的淨現金增長股票列表。</p>
</div>

這四項指標顯示 Life（TSE:8194）在債務使用方面表現良好