NZSE:GNEElectric Utilities
Genesis Energy (NZSE:GNE) Profit Squeeze Clouds A 41.8x Valuation
Genesis Energy stock has crept higher in recent weeks, yet today’s full year numbers give investors a different focal point. The key story is margin pressure in a business that the market has been pricing on a rich multiple and a long term electrification thesis. Group net profit margin over the last twelve months sat at 3%, down from 4.6% the previous year, and reported earnings still reflect a NZ$24.3m one off gain. With the share price at NZ$2.70 and a trailing P/E of 41.8x, the gap...