$RPM International (RPM.US)$Revenue fell slightly by 1% in 2...
$RPM International(RPM.US$Revenue fell slightly by 1% in 2020 for the past 5 years, and continued to grow in the remaining 4 years, with an average growth rate of 6.2%. Operating profit declined after reaching a high point in 2021 due to the continuous decline in gross margin. The 5-year average growth rate was 4.6%, and net profit grew at an average rate of 22% in the past 3 years, but in 2022, there was a fixed asset sales revenue of 52 million yuan. Otherwise, net profit would decline sharply, affecting the growth rate of net profit.
In the first two quarters of 2023, revenue increased 13.2%, operating profit increased 35.3%, and net profit increased 16%.
Interest expenses in 2022 accounted for 13% of operating profit, and the burden was slightly heavy.
The balance ratio has not changed much in the past five years, rising from 69% to 70%.
In 2022, inventories increased by 280 million yuan, accounts receivable increased by 150 million, and net profit of 490 million yuan did not contain much gold.
In the first two quarters of 2023, inventories increased by 180 million yuan and accounts receivable decreased by 90 million yuan. The overall ratio is quite normal.
In the past five years, net cash flow from operations was significantly higher than net investment in four years other than 2022, and there was a certain amount of shareholder surplus.
Currently, the price-earnings ratio is 23.4, and the price-earnings ratio TTM has dropped to 21.5. The valuation is reasonably slightly lower, but it is not low enough, so wait and see.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
