SGX:BTMMachinery
Penguin International (SGX:BTM) Stock Draws Attention To Cash Conversion Gap
Penguin International walked into this earnings day with a value label on its back. The stock trades on a P/E of 9x and has barely moved over the past month, even with a 0.7% lift in the last week. The market has been treating it as a cheap cyclical industrial rather than a must own growth story.
The headline from this half year is earnings quality. Trailing net profit margin sits at 13.3% and reported earnings carry a high non cash component, which raises questions about how much profit is...