$LyondellBasell Industries (LYB.US)$🎯 2024.4.3 Current pric...

New data: 23Q3 and 23Q4. Revenue continued to decline for two quarters. Operating profit changed to growth due to a sharp increase in gross margin, but at the same time, expenses increased rapidly, net profit increased in Q3, and contracted sharply in Q4 due to capital asset impairment.

In 2023, revenue shrank by 18.5%, operating profit shrank by 30.9%, net profit shrank by 45.5%, and return on net assets fell to 16.5%.

The balance ratio did not change much, from 65% to 64.7%, cash increased a lot, and accounts receivable and inventory declined slightly. Long-term loans of $10.333 billion, accounting for 79% of net assets.

Net cash flow from operations was much higher than net investment, and shareholder surpluses were quite good.

Currently, the price-earnings ratio is 16.3, and the five-year average net profit of 3.28 billion yuan corresponds to a price-earnings ratio of 10.4 and a dividend ratio of 4.7%. The valuation is still within a reasonable range, and no adjustments have been made yet.