$Vector (VGR.US)$Revenue rose to 1.44 billion dollars in the...
$Vector(VGR.US$Revenue rose to 1.44 billion dollars in the midst of fluctuations after falling sharply by 40% in 2019 to 1.12 billion dollars. Instead, operating profit began to grow continuously for 4 years in 2019, with an average growth rate of 12.8% in the past 3 years, net profit increased sharply by 74% to 101 million in 2019, and increased to 159 million during subsequent fluctuations, with an average growth rate of 16.3% in the past 3 years.
The income statement shows that the company significantly shrank in 2019, and expenses were reduced by 70%, thus increasing operating profit in the face of reduced revenue.
Interest expenses have also been declining continuously for the past 4 years. Interest expenses account for 30% of operating profit in 2022. Although the burden is still heavy, it has improved significantly from 5 years ago.
The balance ratio has increased from 135% to 189% over the past 5 years. The balance sheet shows that the ratio of accounts receivable and inventory is normal. Long-term loans are 1.39 billion yuan, and net assets are negative 800 million. Based on the recent net profit of 160 million yuan, it will take 5 years of assets to correct.
Net cash flow over the past 5 years has been much higher than net investment, and shareholders' surpluses are high.
Currently, the price-earnings ratio is 12.3, which is quite a bit more than the discount rate, but considering net assets, the price-earnings ratio should be adjusted to 17.3. There is a certain discount, so you can choose carefully (⭐️)
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