$Asbury Automotive (ABG.US)$ 🎯 August 8, 2023, current pric...

New data: the last two quarters and the whole year after 2022, the first two quarters of 2023.

In 2022, the revenue increased by 56.9%, the operating profit increased by 61.8%, and the net income increased by 87.3%. In recent years, interest expenses have been rising, with interest expenses accounting for 12.6% of operating profit in 2022, which is relatively high. In 2022, there was also a business disposal income of 0.21 billion, which boosted the net income.

In the first half of 2023, the revenue declined by 6.8%, the operating profit declined by 14%, and the net income declined by 14%.

In 2022, the asset-liability ratio decreased from 73.6% to 63.8%. Accounts receivable slightly decreased, while inventory increased, but the proportion is relatively healthy.

In the first two quarters of 2023, accounts receivable continues to decline, but inventory continues to increase to 1.2 billion, and the proportion is still healthy.

Goodwill and other intangible assets amount to 3.584 billion, which is 1.17 times the net assets of 3.069 billion. Long-term borrowings amount to 3.181 billion, indicating a high leverage ratio. Treasury stock amounts to 1.066 billion, but no shares have been cancelled in recent years.

Currently, the effect of the large-scale acquisition in 2021 seems to be good. The current P/E ratio is 4.9, and the P/E ratio TTM has slightly increased to 5.1. Due to the light position, there is no need for adjustment at the moment.