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股票討論區
新增數據:23Q3, 23Q4,營收、營業利潤和淨利潤均連續萎縮5個季度以上。
2023年營收萎縮29%,營業利潤萎縮47.6%,淨利潤萎縮56.5%。
資產負債率從65.7%降到59.2%,商譽及其他無形資產12.89億,超過10.45億的淨資產, 長期借款10.2億,槓桿率很高。
現金流經營淨額仍然大幅高於投資淨額,有較大比例股東盈餘產生。
目前市盈率17,5年平均淨利1.8億對應市盈率爲14,按週期股來看估值已經不低了,可以獲利退出。
5年來營收持續增長,營業利潤和淨利潤除2019年以外也持續增長,淨利潤5年平均增速32%,近3年平均增速23.3%。2021Q1營收增長58%,營業利潤增長136%,淨利潤增長137%。
利潤表顯示2019年公司營業費用增加很快,造成利潤減少。
目前利息費用達到了5789萬,佔營業利潤的16.4%。
淨資產收益率在31%左右,2019和2020年下降到20%以下後,2021年又恢復到34%,收益率水平很好。
資產負債率5年來從57.23%提升到了73.08%,經營淨額也持續低於投資淨額,顯示了公司近期無法靠內生現金流驅動成長。
存貨和應收水平都比較低,但是商譽和無形資產達到了12.9億,佔總資產的43%,超過8億的總權益。
目前市盈率6.6,如果按近兩年平均淨利潤1.6億計算,市盈率爲9.2,可以謹慎選擇(⭐️)
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