$Simpson Manufacturing (SSD.US)$🎯 2024.4.3 The current pric...

New data: In 23Q4, revenue continued to grow by 5.5%, operating profit shrank by 11.4% due to a sharp increase in expenses, and net profit shrank by 4.9%.

In 2023, revenue increased 4.6%, operating profit increased 0.9%, net profit increased 6%, and the 5-year profit growth rate fell to 22.8%. The return on net assets is 22.9%, which is still good.

The balance ratio fell from 43.6% to 37.9%, and both total assets and net assets increased. Asset-side cash increased, accounts receivable increased slightly, and inventory did not change much. Long-term debt-side borrowing has declined.

The net operating cash flow was much higher than the net investment, and the results of the 22-year acquisition were quite good.

Currently, the price-earnings ratio is 23.9, which is not high compared to the growth rate. Considering the cyclical nature of the sector, no adjustments will be made for the time being.