$Zumiez (ZUMZ.US)$ 2022.6.24 replay, price 26.66 New data: ...

2022.6.24 replay, price 26.66

New data: 2023Q1

Revenue, operating profit, and net profit declined by 21%, 99%, and 102%, respectively, with quarterly net profit losses.
The reason for the decline in revenue was the end of the pandemic dividend. The decline in operating profit was mainly due to a 30% decrease in gross profit and a 4.3% increase in expenses.

Once the epidemic dividend is over, there will be no return, and the fiscal year 2023 data is unlikely to improve. If the company's expenses remain at 72 million per quarter, or 290 million per year, the revenue for the full year is assumed to be 80% of 2022, or 950 million. Gross margin is calculated at 33% of the most recent quarter, gross profit is only 310 million, net profit before tax for the year is only 24 million, and the corresponding price-earnings ratio is 22 million.

If the company controls fees to 60 million in the next 3 quarters (ideal situation), that is, 250 million for the whole year, net profit before tax can reach 60 million, and 48 million after tax, the corresponding price-earnings ratio is 11, which is still not low.

The extent to which small-cap stocks fluctuate with the economy actually far exceeds that of large-cap stocks. Pay attention to this.

There's nothing appealing about this stock right now.