$TotalEnergies (TTE.US)$1991 (?) French company listed in th...

In the past 5 years, in addition to shrinking in 2019 and 2020, revenue increased for 3 years. Operating profit lost 1 year in 2020, and net profit also lost 1 year in 2020. The average net profit for 5 years was 10.6 billion yuan. Interest expenses in 2022 account for 1.2% of operating profit, and the interest burden is negligible. The return on net assets was 18.4%, and the highest for the remaining 4 years was 14.9%.

In the first three quarters of 2023, revenue contracted by 17.7%, operating profit shrank by 33.6%, and net profit shrank by 6.4%.

The balance ratio has increased from 54% to 62.3% over the past 5 years. The ratio and growth rate of accounts receivable and inventory are normal.

Goodwill and other intangible assets surged from $10.978 billion to $32.9 billion in 2023Q1, accounting for 28% of the net assets of $118.424 billion. Large-scale acquisitions should have taken place. Long-term loans of 41,022 billion dollars, accounting for 34.6% of net assets, and the leverage ratio is not high. Treasury shares are $1,894 million, and there has been a recent decline in share capital.

Currently, the cash is 31,623 billion, the current ratio is 1.15, and the quick ratio is 0.58. Short-term cash flow is still somewhat tight.

Net cash flow from operating over the past 5 years has been higher than net investment, generating shareholders' surpluses.

Currently, the price-earnings ratio is 8.7, and the price-earnings ratio is 8.7. The 5-year average net profit corresponds to a price-earnings ratio of 15.1, a net price-earnings ratio of 1.4, and a dividend ratio of 4.5%. The valuation is still high for cyclical stocks. Coupled with the impact of recent acquisitions taking time to reflect in financial reports, it is not very attractive for the time being.