$Boise Cascade (BCC.US)$🎯 The current price is 97, the posi...

New data: Financial results for the third quarter and full year of 2022, 2023Q1

In 2022, revenue growth declined to 5.8%, operating profit increased 19.1%, and net profit increased 20.4%.

In 2023Q1, revenue fell sharply by 33.6%, operating profit fell sharply by 68.5%, and net profit fell 68%. In fact, on a quarterly basis, the last 4 quarters have all been declining month-on-quarter for 3 quarters, and the pace of decline is accelerating.

The balance ratio fell from 47.4% to 36.5% in 2022, accounts receivable declined, accounts receivable and inventory were relatively normal, and there were no significant changes in other accounts.

Currently, the price-earnings ratio is 4.5, and the price-earnings ratio TTM has risen to 5.9. Although the valuation still seems very attractive, considering that once cyclical stocks peak, it is difficult to reverse the downward trend. Currently, the relatively safe approach is to reduce positions appropriately and continue to observe.