$Trinseo (TSE.US)$Revenue has decreased significantly in 201...
$Trinseo (TSE.US)$Revenue has decreased significantly in 2019 and 2020 over the past 5 years, rebounded sharply by 59% in 2021, slightly increased by 2.9% in 2022, remaining at a high level. Overall, there has been little change over the past 5 years, but operating profit has fluctuated greatly due to significant fluctuations in gross margin and a sharp increase in operating expenses, leading to a loss in 2022. Net income followed a similar pattern.
Interest expenses have been increasing for the past 5 years, and the interest burden continues to worsen.
In 2022, the asset-liability ratio increased to 88.8%. Long-term borrowings reached 2.36 billion, which is 5.6 times the net assets of 0.42 billion, with a very high leverage ratio.
Currently, the PE ratio is negative. If calculated based on the 5-year average net income of 0.08 billion, the corresponding PE ratio is 12. From the current perspective, the investment value does not seem high.
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