$Buenaventura Mining (BVN.US)$It is a Peruvian company that ...

Over the past five years, gross profit margin has fallen from 23% to 3.5% and then rebounded to 9.7%. The return on equity lost money for four years except after reaching 2% in 2017.

Revenue first fell from 1.274 billion to 677 million in five years and rebounded to 900 million in 2021. Operating profit has been at a loss for three consecutive years since it entered the loss range in 2019. Net profit has been at a loss for four consecutive years since 2018.

Revenue fell 10.3% in the first two quarters of 2022, and operating profit entered the loss range again, but the net profit reached 600 million due to equity gains and securities sales gains.

The income statement shows that the interest expense is very high, now reaching nearly 51 million years. Other income items fluctuate widely and account for a high proportion. Although there was 250 million of other net income in 2021, there was also a loss of 388 million on discontinued operations, resulting in a substantial loss. 2022Q2 has 480 million of discontinued operating profit and feels that the statement is being manipulated very seriously.

The balance sheet problem is even bigger, with long-term receivables rising from 102 million to 636 million in 2021, an unusual increase without a significant increase in revenue.

There is no interest in further analysis here.