$Titan International (TWI.US)$It is an American company that...

Gross profit margin has fluctuated between 8.9% and 13.3% over the past five years. The return on equity reached 24.3 per cent only in 2021, with losses of three years and only 1.3 per cent in the remaining four years.

Revenue fell for two consecutive years in 2019 and 2020, and operating profit and net profit also lost money for two years in a row. Revenue rose 41.4 percent in 2021, and both operating profit and net profit reversed losses, reaching recent highs.

Revenue, operating profit and net profit in the first two quarters of 2022 increased by 34%, 264% and 743%, respectively. 2022Q2 has a 22.45 million tax subsidy, causing the growth rate to be extremely high.

The income statement shows that interest expenses account for 38% of operating profit in 2021, which is a very heavy burden.

Over the past five years, the asset-liability ratio has risen from 76% to 81% and fell back to 76% in the first two quarters of 2022.

Long-term borrowing of 441 million, accounting for 144% of net assets of 306 million, highly leveraged.

Over the past five years, the net operating amount is lower than the net investment amount, and the shareholders' surplus is negative.

At present, the price-to-earnings ratio is 20.2, and the price-to-earnings ratio TTM has fallen to 7.8, but it is still not very attractive.