Based on the 2023 full year earnings released a few days ago and the last closing price, you would pay 1.26 billion USD on a company generating a revenue of 7.6 billion USD and a net profit of 274 million USD activating in a sector with potential.
The balance sheet looks healthy having a current liquidity indicator above 1 and an equity ratio of 31%.
For 2024 they expect a revenue between 8.5-9.5 billion USD. Margins are expected to improve, but if the net profit margin of 2023 would be applied to the more pessimistic expectation of 8.5 billion USD, the net profit would be 306 million USD. In this case the P/E being 4.
Also, an additional reason for confidence is a recent 500 million USD investment from BlackRock.
What am I missing?
