$Sylvamo (SLVM.US)$Revenue grew rapidly for two years after ...
$Sylvamo(SLVM.US$Revenue grew rapidly for two years after listing in 2021, with an increase of 28.3% in 2022, and operating profit also increased sharply to 540 million. In 2022, net profit was greatly increased by interest expenses in 2022, and net profit fell sharply by 64.4% due to a sharp increase in income tax and the impact of 220 million yuan in cessation of operations losses.
In 2023Q1, revenue increased 16.8%, operating profit increased sharply by 51%, and net profit increased 2.7 times. It seems that the sale of the loss-making department had a huge positive impact on the company.
The balance sheet shows that the company's accounts receivable were controlled after listing, but inventories increased rapidly, but it was also reasonable compared to the revenue growth rate; however, the profit content in 2022 was very low.
Inventory increased by 140 million dollars in 2023Q1, net profit for the period was 97 million yuan, and there was not much increase in revenue, which does not seem normal.
Long-term loans have dropped from $1.36 billion to $950 million in the past two years, but they are still higher than net assets of $790 million, and the leverage ratio is not low.
Currently, the price-earnings ratio is 16.8, and the price-earnings ratio is TTM 10.4. Considering the recent abnormal increase in inventories, we can look at a few more financial reports before talking about them.
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