$Tegna (TGNA.US)$🎯 2024.3.24 Current price 14.05, position ...

New data: In 23Q4, revenue, operating profit, and net profit continued to shrink.

Revenue contracted 11.2% in 2023, operating profit shrank 39.3% due to falling gross margin and increased management expenses, and net profit shrank 24.5% due to other revenue. Interest expenses account for 24% of operating profit, which is a heavy burden.

The balance ratio increased from 57.9% to 61.1%, but total assets declined and net assets decreased by 11.8%. The asset side declined across the board, and both cash and accounts receivable declined. Goodwill and other intangible assets of $5.311 billion are 1.9 times the net assets of $2,724 million, and long-term loans of $3,073 billion.

Net cash flow from operations is much higher than net investment, and the shareholder surplus ratio is very high.

Currently, the price-earnings ratio is 6.2 and the dividend rate is 3%. Although the recent contraction has been severe, the valuation is indeed not very high, so no adjustments will be made for the time being.