$Boise Cascade (BCC.US)$🎯 The current price is 97, the posi...

New data: Financial reports for the 3rd quarter and full year after 2022, 2023Q1

In 2022, revenue growth fell to 5.8%, operating profit increased by 19.1%, and net profit increased by 20.4%.

In 2023Q1, revenue fell sharply by 33.6%, operating profit by 68.5%, and net profit by 68%. In fact, on a quarterly basis, there have been 3 quarterly declines in the last 4 quarters, and the rate of decline is accelerating.

In 2022, the balance ratio fell from 47.4% to 36.5%, accounts receivable declined, receivables and inventories were relatively normal, and there were no significant changes in other categories.

Currently, the price-earnings ratio is 4.5, and the price-earnings ratio TTM has risen to 5.9. Although the valuation still seems very attractive, considering that once cyclical stocks reach their peak, it is difficult to reverse the downward trend, the current prudent approach is to lower positions appropriately and continue to observe.