$Dynagas LNG Partners LP (DLNG.US)$The Greek company, which ...

There has been little change in revenue fluctuations over the past five years. Basically, it has remained around 130 million. Operating profit has been greatly affected by fluctuations in gross margin, while net profit has increased dramatically in the past three years due to lower interest expenses and revenue from the sale of securities. Interest expenses in 2022 (including preferred stock dividends) account for 85% of operating profit, and the interest burden is extremely heavy.

In the first three quarters of 2023, revenue increased by 28%, operating profit increased by 61.7%, and net profit shrank by 40% due to a decrease in proceeds from the sale of securities.

The balance ratio has declined from 69.3% to 55.3% over the past 5 years. Receivables and inventory can be ignored. There is no goodwill. Long-term loans of 431 million yuan are equivalent to net assets of 441 million, and the leverage ratio is very high.

Currently, the cash is 64.911 million, and the liquidity is sufficient.

Net cash flow from operating over the past five years has been much higher than net investment, generating a large shareholder surplus.

Currently, the price-earnings ratio is 2.6, and the price-earnings ratio is TTM 4.3. The 5-year average net profit of 119 million yuan corresponds to a price-earnings ratio of 5.7. The valuation is not very high, so you can choose carefully (⭐️)