$Coterra Energy (CTRA.US)$ 🎯 2024.4.17 Current price 27.52...

New data: 23Q3 and 23Q4. Continued contraction for three quarters.

In 2023, revenue shrank by 34.7%, operating profit shrank by 59.2%, net profit shrank by 60%, and return on net assets fell to 12.6%.

The balance ratio fell from 37.2% to 36.1%, and total assets and net assets increased slightly. Asset-side cash increased, accounts receivable declined, and fixed assets increased more. Long-term debt-side loans decreased by 600 million, and short-term loans increased by 600 million dollars. Overall, there was a slight decrease. Long-term loans account for 12% of net assets, and the leverage ratio is very low.

Currently, the price-earnings ratio is 12.9, and the five-year average net profit of 1.54 billion yuan corresponds to a price-earnings ratio of 13.4 and a dividend ratio of 4.3%. The valuation is within a reasonable range, and no adjustments have been made for the time being.