YPF - YPF Strong Comeback Things Are Changing For Argentina
- YPF multiples -Argentina largest company- make the stock look dirty cheap: 0.44x 2021 EBITDA and 2.9x fwd 2022 P/E despite higher costs.
- YPF shows seven consecutive quarters of solid FCF, improved capital structure and encouraging production guidance which do not match with YPF stock price performance.
- YPF repaid $882m debt in 2021. Net Debt/EBITDA went down to 1.6x, lowest in six years. Upstream is showing encouraging prices. Downstream volumes were very strong.
- YPF showed a remarkable growth in reserves of 24% to 1.1 billion BOE as of YE 2021 and historical high RRR of 2.3x.
- With current commodity boom, IMF debt deal and Argentina growing, forgotten YPF might be back to investors radar. And yes, the stocks is about 94% below 2005 all time high.
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YPF Strong Comeback Things Are Changing For Argentina