$Materion (MTRN.US)$It is an American company that went publ...

Gross profit margin has basically fluctuated above 18% over the past five years, only falling to 16.4% in 2020. The return on equity has risen from 2.3% to 10.5%, neither of which is very attractive.

Revenue has not changed much in the first four years of the five years, surging 28.4% in 2021. Operating profit grew for three years, plummeted 67% in 2020 and returned to levels close to 2019 in 2021. The net profit curve is similar to operating profit, reaching a nearly five-year high in 2021. In the first two quarters of 2022, revenue, operating profit and net profit increased by 23.3%, 27.7% and 7.6%, respectively.

The income statement shows that interest expenses account for 6% of operating profit in 2021, and the burden is not high. In 2018, 2019 and 2020, other net expenses were 50.35 million, 19.49 million and 15.27 million respectively, accounting for a very large proportion of operating profit, which seriously distorted the net profit curve.

According to the balance sheet, inventories increased by 110 million in 2021, compared with a net profit of 72.47 million for the year.

Over the past five years, the net amount of operation is lower than the net amount of investment, and there is no shareholder surplus.

The current price-to-earnings ratio of 25.8, price-to-earnings ratio of TTM 25, unattractive.