$Enterprise Products (EPD.US)$In the past five years, revenu...
$Enterprise Products (EPD.US)$In the past five years, revenue has shrunk for two years in 2019 and 2020, and grown for the first and last three years, with an average growth rate of 14.8%. Operating profit has grown for four years except for a 16.4% shrinkage in 2020, with an average growth rate of 13%. Net income has grown for four years except for a 17.1% shrinkage in 2020, with an average growth rate of 14.5%. In 2022, interest expenses accounted for 19% of operating profit, indicating a heavy interest burden.
In the first half of 2023, revenue shrank by 20.6%, operating profit shrank by 3.7%, and net income shrank by 2.4%.
The asset-liability ratio has remained at around 60% for the past five years. The proportion and growth rate of accounts receivable and inventory are relatively normal. Goodwill and other intangible assets have reached 9.479 billion, accounting for 33.8% of net assets. Long-term loans amount to 27.443 billion, accounting for 98% of net assets. If goodwill and intangible assets are deducted, the leverage ratio is very high.
For the past five years, operating net cash flow has consistently exceeded investment net cash flow, generating a significant amount of shareholder surplus.
Currently, the P/E ratio is 11, and the trailing P/E ratio is 11.1, with a dividend yield of 7%. Overall, it can be cautiously selected (⭐️).
Note: This stock is a Publicly Traded Partnership (PTP). Starting January 1, 2023, non-U.S. individuals will be subject to a withholding tax of 10% of the total selling or trading amount when selling or trading U.S. PTP securities, so it is better to avoid it.
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