TSE:9830Trade Distributors
Trusco Nakayama (TSE:9830) Stock Trails Revenue Gains As Margins Thin
Trusco Nakayama’s stock came into the Q2 print looking unloved after a weak 7 day stretch, even as valuation screens showed a single digit P/E and a market price well below one discounted cash flow estimate. The earnings headline that matters most is margin pressure. Net profit margin on a trailing basis sits below last year’s level, and earnings growth has cooled versus the company’s own multi year trend. Today’s muted short term return looks less like a sudden loss of faith and more like...