$First American Financial (FAF.US)$🎯 2023.3.7 The current p...
$First American Financial(FAF.US$🎯 2023.3.7 The current price is 57, and the position loss is 2%, but it has been almost 1 year since the last time the trading was resumed, reaching the reopening standard
New data: quarterly report and annual report for the second half of 2022, 2023Q1
In 2022, revenue fell 17.5%, and net profit fell sharply by 78.8%. The income statement showed that the net loss on investment had reached $520 million, compared with net income of 440 million in the same period last year. This difference was 960 million. The decline in profit was mainly due to a sharp decline in revenue combined with investment losses.
2023Q1 revenue continued to decline by 28.9%, and net profit declined by 53.1%.
Currently, the price-earnings ratio is 23.3, and the price-earnings ratio TTM has grown to 28.3. Since insurance is a cyclical industry, based on a 5-year average net profit of 6.8, the price-earnings ratio is 8.6. The valuation is still not low, and positions can be closed.
📌 Insurance stocks are difficult to analyze, and they are highly cyclical. If you analyze growth stocks, it's easy to fall into the pit
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