Good balance sheet, net cash position with current ratio despite being a commodity type of company which supply steel pipes to the energy industry. Despite making a loss in 2016-2017, they still maintain dividends payout. Payout ratio is around ~50% at 4% yield. Due to net cash position, company has enough buffer to pay dividends every year even if free cash flow for the year is inadequate.
Global diversified business with 50% of revenue from USA. 20% in Latin america. 10% in europe, 20% in middle east and africa. <5% in Asia Pac.
No comments:
Post a Comment