$Boston Beer (SAM.US)$An American company listed in 1995. 95...

Revenue has continued to grow over the past 5 years, with an average growth rate of 19.3%. Operating profit was greatly affected by the decline in gross margin. After reaching a high point in 2020, it shrank sharply. There was no increase in the sharp fluctuations over the past 5 years; instead, net profit has shrunk over the past 5 years. There is no interest burden. The gross margin fell from 51.5% to 41.2% in the past 5 years, the return on net assets was 6.6% in 2022, and was basically around 20% for the 3 years before 2021.

In the first three quarters of 2023, revenue shrank by 1.7%, operating profit increased by 3.5%, and net profit increased 20% due to narrowing of asset impairment.

Currently, the price-earnings ratio is 65.3 and the price-earnings ratio is TTM52.6. The valuation is clearly too high and unattractive.