$A-Mark Precious Metals (AMRK.US)$🎯 On December 1st, 2023, ...

New data: Full year 2023 and Q1 2024

In 2023, revenue increased by 13.8%, operating profit increased by 24.7%, net income increased by 17.8%, and interest expenses accounted for 4.7% of operating profit.

The asset-liability ratio decreased from 66% to 61.2%. Accounts receivable decreased by 0.14 billion, while inventory increased by 0.24 billion, which is considered normal. Long-term borrowings were cleared, and short-term borrowings surged to 0.666 billion, which is 1.1 times the net assets of 0.6 billion.

The net cash flow from operations is negative.

In Q1 2024, revenue increased by 30.8%, while operating profit plummeted 55.5% due to a decrease in gross margin. Net profit shrank by 58.3%.

The current P/E ratio is 4.6, and the trailing P/E ratio has increased to 5.5. If net profit declines by 50% for the whole year, the P/E ratio will increase to 9.6. The dividend yield is 2.8%. The current shrinkage seems to be due to the cyclical factors of precious metals, and the current position is not heavy, so there is no need for adjustments at the moment.