You say ALJ only has $33mil. of debt left and "...now that debt is almost gone ..." ?
Are you referring to "Long Term Debt" (LTD) as detailed on its Balance Sheet ?
The way I see it, its latest Quarterly Balance Sheet shows LTD at $128.4mil. It was only slightly higher, 5 Quarters ago, at $142.9mil. That gives a current LTD/Shareholders Interest of (128.4/249.7)x100 = 51.4%, which, in my opinion, is very high.
Maybe ALJ's comments refer, only, to "interest bearing" debt, which is not clear from the financial statements I looked at.
However, whatever the nature of that debt, according to its last Annual Result, it’s also costing ALJ a post-tax number equivalent to 56% of its Bottom Line (based on a 40% tax rate).
I see, from its chart, that its price has come down about 23% in the last 4 months.
I got these figures at Yahoo, which agreed with the numbers at another site I usually refer to.
I wonder if it was only "impatience" that caused ALJ holders to sell ?
(I presume you’re referring to Alon USA Energy, Inc. as listed on the NYSE) |
