$Pembina Pipeline (PBA.US)$Canadian companies listed in 2010...

In the past 5 years, in addition to the contraction in 2019 and 2020, revenue increased for 3 years, with an average growth rate of 16.5%. Operating profit was affected by gross margin fluctuations. The average growth rate was 16.5%. Net profit lost once in 2020 due to cancellation, and in 2022 it also depended on business sales revenue to increase dramatically. The growth rate is of little significance. The average net profit of 1.34 billion yuan is more indicative. Interest expenses account for 18% of operating profit in 2022, which is a very low burden within the sector. The return on net assets is usually around 10%, which is very average.

In the first three quarters of 2023, revenue contracted 25.3%, operating profit shrank 20%, and net profit shrank 60.5% due to lack of revenue from the sale of assets.

Currently, the price-earnings ratio is 9.2, the price-earnings ratio is TTM21.7, and the dividend ratio is 5.7%. The 5-year average net profit of 1.34 billion Canadian dollars (US$1.01 billion) corresponds to a price-earnings ratio of 18.7, making the valuation not very attractive.