Despite Matson's current undervaluation, the prospect of negative growth introduces a degree of risk. Investors are advised to consider this risk before deciding to increase their portfolio exposure to MATX or diversify into another stock.
Insider sales of Matson shares, especially at lower prices, may suggest a lack of confidence in the stock's valuation. Despite some insider buying, the overall sentiment is not very positive. The level of insider ownership indicates some alignment with smaller shareholders, but the selling activity could be a cautionary sign for potential investors.
Matson's rising ROCE and expanding capital base are promising. These trends indicate profitable initiatives for reinvestment, potentially leading to future growth.
Matson's low P/E ratio is contributed to by its poor earnings performance and projected decline in earnings. Unless profitability improves, the P/E can potentially fall further, putting more downward pressure on the stock price.
Given the above-average PE ratio and negative future profit growth projection, it may not be the ideal time for potential investors to buy into Matson's stock. Current shareholders should consider reducing portfolio risk considering these factors.
Recent Matson insider sales suggest shares may not be undervalued, advising caution for potential investors. Lack of insider buying alongside sales volume indicates a potential red flag.
Matson股票討論區
新增數據:23Q3,23Q4,營收、營業利潤和淨利潤持續萎縮。
2023年營收萎縮28.8%,營業利潤受毛利率下滑費佔比提高影響萎縮73.2%,淨利潤萎縮72.1%。
資產負債率從47%下降到44.1%,總資產略有下降,淨資產略有增加。資產端現金有所減少,長期預付費有所增加,負債端主要是長期借款與租賃負債下降比較多。
現金流經營淨額仍高於投資淨額,產生了些股東盈餘。
目前市盈率12.8,股息率1.2%,5年平均淨利5.1億對應市盈率7.2,估值依然不算高,可以謹慎選擇(⭐️)
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Matson(MATX)股價在2020年達到$9.56的低點後波動上升,2022年3月達到$124.9的新高後,目前回落至$87.9。毛利率從16.1%下滑到14.8%,2020年恢復到20.1%,2021年暴增到34.8%,但是在板塊內不算高。淨資產收益率則是從40%下降到10%後,2020年恢復到22%,2021年暴增到71%。
5年來營收只在2019年微弱下滑0.9%,其餘4年穩定增長,營收、營業利潤和淨利潤在2021年分別暴增64.7%,345%,380%。
2022Q1營收、營業利潤和淨利潤分別暴增63.7%,259%,289%。
利潤表顯示利息費用佔營業利潤比例很低,2020和2021年分別為11%和2%;
5年來資產負債率從過年70%下降到了52%,負債淨額沒有下降,主要是股東權益增加。商譽和無形資產有5億,佔總資產的13%,淨資產的26%,扣除後淨資產還有14億。
5年來經營淨額總數高於投資淨額,但不是每年都超過。
目前4倍市盈率,按5年平均淨利3.1億計算市盈率為11.5,1.86倍市淨率,可以謹慎選擇(⭐️)。
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