Analysts reduce revenue forecasts and cut earnings per share numbers for Darling Ingredients, indicating less optimism. The wide range of estimates suggests difficulty in accurately valuing the business. The company's revenues are expected to underperform the wider industry, with concerns of potential business headwinds.
Despite a dip in net income, Darling's CEO remains optimistic, expecting fat price increases due to more renewable diesel to benefit the company and its joint venture. He anticipates impressive cash flow from 2025.
The company's growth in ROCE and consistent reinvestment are positive signs. These developments have led to a 99% return for stockholders over the last five years, attracting attention and worth monitoring.
The stock's cheap price and high beta suggest potential for future buying opportunities. The current share price doesn't fully reflect the company's future profit outlook, indicating it's not too late to buy DAR.
Some shareholders seem doubtful of Darling Ingredients' forecast growth and have accepted lower selling prices, indicating potential future earnings volatility.
Darling Ingredients' stock appears to be a promising buy due to its low price-to-earnings ratio and expected earnings growth. However, an investor should also consider other factors such as financial health.
美国达尔令国际股票讨论区
新增数据:2023Q4,营收萎缩8.7%,营业利润受毛利率大幅提升影响增长了10.8%,净利润则由于缺乏去年的高额股权收益而萎缩了45%。
2023年营收增长3.9%,营业利润受费用大幅提升影响萎缩14%,加上利息费用大幅提升,净利润萎缩11.6%。利息费用占营业利润的43%,负担极重。
资产负债率变化不大,总资产增加了20%,资产端主要是应收款项和存货略有增加,商誉及其他无形资产大幅增加7.3亿到35.6亿,占46.94亿净资产的76%,长期借款增长10.5亿达到43.7亿,是净资产的93%,杠杆率极高。
2023年现金流经营净额依然大幅低于投资净额,没有产生股东盈余。
目前市盈率11.4,5年平均净利5.4亿对应市盈率为13.4,估值在合理偏高的位置,可以退出。
新增数据:2022后三季度及年报,2023Q1
2023年营收大幅增长37.8%,营业利润受毛利率下滑影响仅增长30.8%,净利润则受利息费用增长影响仅增长了13.7%。2022年利息费用占营业利润的18%,负担较重。
结合资产负债表可以清楚看出2022年进行了收购,商誉及其他无形资产增加了12.2亿,同时长期借款增加了18.8亿,大概意味着公司收购是靠举债,并且收购进来的公司的负债也很高,不太好的征兆。
2023Q1营收大幅增长31.1%,营业利润却由于毛利率下滑及费用大幅提升影响仅增长了5%,净利润受利息费用大幅增长影响而下滑了0.5%。2023Q1利息费用占到营业利润的29%,负担突然变得非常重。
资产负债表显示2023年1季度又进行了收购,商誉及其他无形资产增加了8.4亿达到36.79亿,占41.22亿净资产的89%,长期借款又增加12.4亿达到45.59亿,占净资产的111%,考虑到净资产的含金量,杠杆率极高。
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