$Western Midstream (WES.US)$Listed in 2012, single US market...

In the past 5 years, with the exception of 2018, revenue grew at an average rate of 6%. Operating profit contracted only 9.8% in 2021 due to fluctuations in gross margin, and grew at an average growth rate of 13.4% for the rest of the 4 years. Net profit shrank sharply by 36% in 2020 due to capital asset impairment, with an average growth rate of 11.1%. Interest expenses account for 25% of operating profit in 2022, and the interest burden is heavy. The return on net assets is as high as 40%.

In the first three quarters of 2023, revenue contracted 9.1%, operating profit shrank 9.2%, and net profit shrank 17%.

The balance ratio has increased from 57.3% to 72.4% over the past five years. The ratio and growth rate of accounts receivable and inventory are relatively normal. Goodwill and other intangible assets are at $718 million, accounting for 23% of the net assets of 3.108 billion, and long-term loans of $6.565 billion, which is 2.1 times net assets, and the leverage ratio is extremely high.

Net cash flow from operating over the past five years was slightly higher than net investment, generating a small shareholder surplus.

Currently, the price-earnings ratio is 9.8, the price-earnings ratio is TTM 10.5, and the dividend rate is 8.3%. The 5-year average net profit is 830 million, and the corresponding price-earnings ratio is 13.4. Overall, you can choose carefully (⭐️)