$Scorpio Tankers (STNG.US)$Monaco Company, listed in 2009, m...

In the past 5 years, revenue has grown for 4 years except for a significant decline of 41% in 2021, with an average growth rate of 25%. Operating profit fluctuated significantly due to gross margin fluctuations, resulting in a loss in 2021. Net income also experienced losses in 2018 and 2019, in addition to 2021, due to interest expenses. In 2022, interest expenses accounted for 19% of operating profit, indicating a heavy interest burden. The return on net assets is very high at 29.3%, but the previous profitability was low.

In the first three quarters of 2023, revenue declined by 6%, operating profit declined by 3.4%, and net income grew by 14.3% due to fluctuation in losses from the sale of fixed assets.

Over the past 5 years, the debt-to-assets ratio has decreased from 61.6% to 45%. The proportion and growth rate of receivables and inventory are normal. Goodwill and other intangible assets are very limited, long-term loans amount to 0.264 billion, accounting for 10.5% of net assets of 2.507 billion, indicating a low leverage ratio and preparation for a cyclical downturn. Treasury stock is 0.642 billion, but common stock equity has been increasing recently.

In the past 5 years, the operating cash flow has been significantly higher than the net investment, resulting in substantial shareholder surplus.

Currently, the pe is 5.9, TTM pe is 5.1, dividend yield is 1.32%, 5-year average net income is 0.052 billion, corresponding pe is 62, which is not very attractive for value assessment of cyclical stocks.