A low ROE and high debt usage is unattractive. High quality businesses can achieve high ROE without debt. If two companies have equal ROE, the less indebted one is preferred.
Avantor's high P/E is buoyed by investor expectations of robust future growth and an outstanding earnings outlook, supported by mid-term rates of earnings growth. As long as conditions hold, these factors will sustain the stock’s price.
Avantor remains good investment as it is undervalued offering future growth prospects. Despite market risks and volatility, investors are urged to consider other factors like company's balance sheet strength before deciding.
Avantor's low ROE, despite leverage usage, is not an appealing investment. Reliance on fiscal leverage especially during uncertain credit market conditions could pose higher risk. Consider the company's performance without borrowing abilities.
$潮水公司(TDW.US)$nitiated at buy by BTIG, announced target price at $75.00. $泰勒科技(TYL.US)$initiated at overweight by JP Morgan, announced targe price at $472.00. $Adobe(ADBE.US)$was upgraded by BMO Capital from market perform to outperform, increased target price to $570.00. $Spotify Technology(SPOT.US)$was upgraded by Wolfe Research from peer perform to outperform, increased target price to $190.00. $特斯拉(TSLA.US)$w...
Avantor股票討論區
新增數據:2023前兩季度
營收已經連續3個季度萎縮,營業利潤和淨利潤連續萎縮兩個季度,其中淨利潤在2023Q2轉爲虧損。
2023前兩季度營收萎縮8.7%,營業利潤受毛利下滑和費用提升的影響萎縮了23%,淨利潤受利息槓桿和資本性資產減值影響大幅萎縮70%。上半年利息費用佔營業利潤的32%,負擔極重。
商譽及其他無形資產目前減值到了95.89億,是50.11億淨資產的近兩倍,資產很虛,長期借款55.7億,槓桿率極高,利息負擔很重。
目前市盈率20.8,市盈率TTM已經增加到33.3,對於週期股來說太高了,平倉了結。
專欄US Top Gap Ups and Downs on 7/28: ROKU, XPEV, BILI, IQ and More
Gap Ups
1. $Reata Pharmaceuticals(RETA.US)$ +54.02%
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4. $小鵬汽車(XPEV.US)$ +15.68%
5.$嗶哩嗶哩(BILI.US)$ +15.25%
6. $愛奇藝(IQ.US)$ +13.26%
7. $西空航空(SKYW.US)$+12.33%
Gap Downs
1. $Enphase Energy(ENPH.US)$ -0.15%
2. $瞻博網絡(JNPR.US)$ -6.94%...
專欄US Top Rating Updates on 6/21: TSLA, ADBE, SPOT, SKIN and More
$泰勒科技(TYL.US)$initiated at overweight by JP Morgan, announced targe price at $472.00.
$Adobe(ADBE.US)$was upgraded by BMO Capital from market perform to outperform, increased target price to $570.00.
$Spotify Technology(SPOT.US)$was upgraded by Wolfe Research from peer perform to outperform, increased target price to $190.00.
$特斯拉(TSLA.US)$w...
利潤表顯示公司近5年毛利率緩慢提升,費用控制的很好,沒有隨營收增長而增加。
2022年利息費用達到營業利潤的24%,利息負擔還是相當重。
資產負債率2019年上市以來從74.8%一路下滑到63.9%,
應收帳款和存貨的數量和增速都比較正常。
2021年商譽和無形資產從69億大幅提升至105億,應該是大舉收購引起的,2022年受無形資產減值影響下降到了97.9億,是淨資產48.55億的2倍,資產比較虛。
2022年長期借款59.2億,超過淨資產數額,槓桿率不低。
5年來現金流經營淨額總體略高於投資淨額,產生了少量股東盈餘。
目前市盈率24,和不斷下降的增速比起來折扣不是很多,但是考慮到毛利率的提升和費用控制的效果,增速保持的可能性很大,可以謹慎選擇(⭐️)。
一年時間從42美元到今天18美元,攔腰斬呀,怎一個慘字了得,這是多家機構持倉的價值投資股,這年頭誰的話都不敢信了
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