$Ingevity (NGVT.US)$ 🎯 2023.8.17 The current price is 49.5,...

New data: 2023Q2

In 2023Q2, revenue increased by 14.7%, operating profit fell slightly by 0.4% due to the decline in gross margin, while net profit fell sharply by 40.6% due to other expenses. This resulted in an 8.9% increase in revenue in the first half of the year, a 9.7% decrease in operating profit, and a decrease of 28.5% in net profit.

Goodwill and other intangible assets of $921 million are 1.3 times the net assets of $714 million. Assets are very poor. In addition to long-term loans reaching $1,526 million, the leverage ratio is extremely high.

Currently, the price-earnings ratio is 9, and the price-earnings ratio TTM has increased to 10.5. The current valuation has no discount compared to risk, so I closed my position and quit.