$Algoma Steel (ASTL.US)$🎯 2023.7.28 The current price is 7....

New data: Report for the third quarter and full year after 2023

Revenue fell 27% in 2023, operating profit fell sharply by 79.4% due to the sharp increase in costs, and net profit fell 65.2%. Interest expenses account for 7.5% of operating profit and are less burdensome.

There is other net income of 110 million yuan in 2023. If not included, the net profit in 2023 can only reach about 210 million yuan. Judging from the quarterly reports, the revenue of the last three quarterly reports has declined sharply, and the net profit for the past two quarters has already begun to be lost.

In 2023, the balance ratio fell slightly from 41.3% to 40.5%, and accounts receivable declined sharply, but inventories increased by 240 million to 720 million. The long-term loan was 110 million yuan, accounting for 7.5% of the net assets of 1,462 million dollars, and the leverage ratio was not high.

Judging from the quarterly report, the net operating amount for the past three quarters has been negative. The net investment amount is 85 million yuan per quarter, and current assets after deducting total liabilities are still 370 million yuan. At the current rate, it is enough to spend a little over a year

Currently, the price-earnings ratio is 3.3. If other income is taken into account, the corresponding price-earnings ratio is 4.7. It doesn't seem very high, but the industry seems to have passed the high point, and subsequent earnings reports may continue to deteriorate, so the position is low and waits for the time being.