$A-Mark Precious Metals (AMRK.US)$🎯 2024.3.18 Current price...

New data: In 24Q2, revenue increased by 6.6%, operating profit shrank by 47.8% and net profit shrank by 58.5% due to the decline in gross margin.

In the first half of 2024, revenue increased by 18.5%, operating profit shrank by 52.3%, and net profit shrank by 58.5%. Changes in performance should be affected by the precious metals cycle.

The balance ratio increased from 61.2% to 64%, mainly due to an increase of 300 million in long-term loans and an increase of 130 million in inventory.

Both net operating and net investment cash outflows for the past two quarters were net outflows.

Currently, the price-earnings ratio is 4.4, and the price-earnings ratio is TTM6.2. If the annual net profit shrinks by 60%, the price-earnings ratio will rise to 111. The 5-year average net profit of 100 million yuan corresponds to a price-earnings ratio of 6.3 and a dividend ratio of 2.9%. Due to new long-term loans, the current ratio has increased to 1.86. There are no cash flow problems for the time being, and the valuation is still not high, so you can choose carefully (⭐️)