$Methode Electronics (MEI.US)$In the analysis 2 years ago, i...
$Methode Electronics (MEI.US)$In the analysis 2 years ago, it was excluded because of shrinking profits in 2021 and the valuation was not very attractive, and the stock price has fallen 72.3% so far.
An American company launched in 2007, mainly engaged in remote control, electronics, wireless and sensor businesses.
Revenue has continued to grow over the past 5 years. Operating profit has declined for 4 years except in 2020 due to a decline in gross margin and an increase in the share of fees, and net profit has continued to decline sharply for the past 3 years due to other non-operating income. The gross margin fell from 26.6% to 22.4% in the past 5 years, and the return on net assets fell to 8.3% from a high of 16.8% in 2020.
Revenue shrank 4.7% in the first three quarters of 2024, operating profit shrank sharply by 92.7% due to lower gross margin and higher share of expenses, and net profit lost a significant loss of 66 million dollars due to the impairment of capital assets.
Currently, the price-earnings ratio is 6. Considering that there is still no sign of improvement in business, wait and see.
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