$AMC Networks (AMCX.US)$ 🎯 2024.3.24 Current price 11.63, p...

New data: 23Q2, 23Q3, and 23Q4. Revenue and operating profit shrank continuously for 3 quarters, and net profit turned into a loss in Q4.

In 2023, revenue shrank by 12.4%, operating profit shrank by 11.1%, and net profit recovered to 200 million due to reduced restructuring and merger and acquisition expenses. Interest costs account for 22.6% of operating profit, which is too burdensome.

The balance ratio fell from 80.3% to 74.7%, while total assets also shrank, and net assets increased 13.7%. Goodwill and other intangible assets of $2,698 billion are 2.1 times the net assets of $1,259 million, and long-term loans of $2,294 billion.

Net cash flow continues to be significantly higher than net investment, and the shareholders' surplus ratio is very high.

Currently, the price-earnings ratio is 2.4. Although the shrinking trend has not been reversed, the valuation is still discounted, and no adjustments will be made for the time being.