$Brookfield Business Partners LP (BBU.US)$The main business ...
$Brookfield Business Partners LP (BBU.US)$The main business is infrastructure services, industrial and commercial services, the main markets are Britain, Europe, the United States, Australia and Canada, just listed in 2022.
Net profit soared to 2.15 billion in 2021, ostensibly fast, but the report shows that depreciation and amortisation increased year by year before 2021, reaching 2.17 billion in 2020, but not in 2021.
The burden of interest expense is extremely high, reaching 60% of operating profit in 2021, and the actual share is even higher considering that there is no depreciation in 2021.
It began to show its true character in the first two quarters of 2022. Although revenue increased by 33.4%, operating profit increased by only 18%, and net profit fell by 82%. While depreciation and amortization have not been done in the first two quarters, it should not be hidden in the annual report.
The current price-to-earnings ratio of 6.6, the price-to-earnings ratio of TTM has increased to 18.6, a stock that should be avoided.
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