$Sunoco (SUN.US)$Revenue has fluctuated from 11.7 billion do...
$Sunoco (SUN.US)$Revenue has fluctuated from 11.7 billion dollars over the past 5 years to 17.6 billion, and in 2020 it once fell 36% to 10.7 billion, while operating profit fluctuated from 340 million to 735 million, with an average growth rate of 11.4% over the past five years. Net profit was instead lost in 2018 due to loss from cessation of operations and special expenses, while profit for the remaining 4 years fluctuated from 150 million to 520 million.
Revenue increased by 57% in the first three quarters of 2022, operating profit increased by only 2.3% due to cost increases, net profit fell 1%, and there was great resistance to profit growth.
The income statement shows that interest expenses in 2021 reached 22% of operating profit, reached 23.5% in the first three quarters of 2022, and the interest burden was not light.
Over the past five years, the balance ratio has risen from 73% to 86%, and declined slightly to 85% in Q3 2022.
The balance sheet shows that the recent growth rate of receivables and inventories has been extremely fast, and the growth rate of accounts payable has also been rapid, offsetting some of the pressure on cash flow.
Goodwill of $1,588 million far exceeds net assets of $978 million, and long-term loans reached $3.374 billion.
Currently, the price-earnings ratio is TTM 8.75. The valuation is quite normal and unattractive for the time being.
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