PMMAF - PUMA: Brand Building And Cheap Relative To Peers
2024-03-25 19:38:29 ET
Summary
- Puma's stock has dropped by 7.83% in the past month and has lost 28.80% in value over the last year.
- Q4 sales showed a decline, particularly in the United States, and the company faces fierce competition in the sportswear industry.
- Despite challenges, Puma is focusing on global brand strength, and building local knowledge, and offers a dividend program, making it a potential investment opportunity at an attractive FWD P/E of 11.63.
German sportswear giant PUMA SE ( PMMAF )'s stock has dropped by 7.83% since releasing its FY2023 earnings results one month ago. Over the last year, there has been a lot of price volatility, and the stock has lost 28.80% in value. Despite headwinds, FY2023 was relatively successful, increasing its top line by 6.6% YoY, significantly improving its levered free cash flow and an increased cash position on the balance sheet. Conversely, the company saw a decline in its bottom line, and normalised diluted EPS reduced YoY by $0.22 to $1.86. Furthermore, the management team has given a cautious tone regarding the outlook for FY2024....
PUMA: Brand Building And Cheap Relative To Peers