$Sibanye Stillwater (SBSW.US)$ 🎯 2024.4.17 Current price 5....

New data: 23Q4.

In 2023, revenue shrank by 17.8%, operating profit loss of 34.79 billion yuan, and net profit loss of 37.77 billion yuan.

The balance ratio increased from 45.4% to 63.9%, and both total assets and net assets shrank sharply. Asset-side cash declined, accounts receivable increased, and fixed assets decreased a lot. Debt-side payables have increased, short-term loans have increased dramatically, and long-term loans have increased slightly. Interest-bearing loans account for 83% of net assets, and the leverage ratio is not low.

Currently, the price-earnings ratio is in a loss state. The five-year average net profit of 8.6 billion ZAR (US$450 million) corresponds to a price-earnings ratio of 8.6 and a dividend ratio of 10%. Overall, the valuation is still within a reasonable range, and no adjustments have been made for the time being.