Recent insider selling at Patrick Industries, despite high insider ownership, raises caution. The absence of insider buying over the past year and selling below the current price may suggest insiders believe the shares are fully valued.
The significant insider selling of Patrick Industries shares over the past year, especially in the last quarter, might be a warning sign for investors. The absence of insider buying during the same period could indicate that some insiders think the shares are not undervalued. Despite high insider ownership, the history of share sales could be worrisome.
Investor belief in the company's persistent poor earnings might be causing the low P/E ratio. Despite notable earnings growth and projected EPS growth, investor skepticism about future growth may be hindering the share price.
Patrick Industries' dividend sustainability is backed by financial performance and dividend payout ratio. With rapid EPS growth and majority earnings retained, prospects of future dividend increases are high. Beware of potential risks before investing.
Zach Luke, the VP of sales and marketing, lauds Gonzalez's experience, contributions, leadership skills, and industry understanding. He implies Gonzalez's appointment should set a positive trajectory for Rockford's sales. Meanwhile, Gonzalez himself expresses gratitude and excitement over his new role.
Patrick Industries股票讨论区
新增数据:23Q3, 23Q4,营收、营业利润和净利润均连续萎缩5个季度以上。
2023年营收萎缩29%,营业利润萎缩47.6%,净利润萎缩56.5%。
资产负债率从65.7%降到59.2%,商誉及其他无形资产12.89亿,超过10.45亿的净资产, 长期借款10.2亿,杠杆率很高。
现金流经营净额仍然大幅高于投资净额,有较大比例股东盈余产生。
目前市盈率17,5年平均净利1.8亿对应市盈率为14,按周期股来看估值已经不低了,可以获利退出。
5年来营收持续增长,营业利润和净利润除2019年以外也持续增长,净利润5年平均增速32%,近3年平均增速23.3%。2021Q1营收增长58%,营业利润增长136%,净利润增长137%。
利润表显示2019年公司营业费用增加很快,造成利润减少。
目前利息费用达到了5789万,占营业利润的16.4%。
净资产收益率在31%左右,2019和2020年下降到20%以下后,2021年又恢复到34%,收益率水平很好。
资产负债率5年来从57.23%提升到了73.08%,经营净额也持续低于投资净额,显示了公司近期无法靠内生现金流驱动成长。
存货和应收水平都比较低,但是商誉和无形资产达到了12.9亿,占总资产的43%,超过8亿的总权益。
目前市盈率6.6,如果按近两年平均净利润1.6亿计算,市盈率为9.2,可以谨慎选择(⭐️)
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