$Vishay Precision Group (VPG.US)$ It is an American company ...

It is an American company that was listed for $12.5 in 2010. The current price is 30.6, and the average annual return is 7.7%, which is reasonable. The gross margin was basically around 39% over the past 5 years, but the return on net assets was only over 10% in 1 year, and only 7.6% in 2021.

In the past 5 years, revenue, operating profit, and net profit have all gone off the curve of two years of increase, two years of decline, and a rebound in 2021. The average 5-year growth rate of net profit was 26%, but in the past 3 years, the growth rate is negative.

Revenue, operating profit, and net profit increased by 24.2%, 32%, and 35% respectively in 2022Q2. Revenue, operating profit, and net profit increased by 17.6%, 114%, and 168%, respectively, and the quarterly growth rate was quite good.

Cumulative revenue, operating profit, and net profit for the first two quarters of 2022 increased by 21%, 66%, and 93% respectively. Currently, net profit has reached 17.1 m, which is close to 20.4 m in 2021.

The income statement shows that interest expenses are about 1 million, which is about 3% of operating profit, and the burden is very light. Other expenses reached 3 million, accounting for 10% of operating profit, and the impact was still slightly greater.

Over the past five years, the balance ratio fell from 37% to 34.7% and then rose back to 38.4%. The increase in accounts receivable exceeded the increase in net profit, and the growth rate of inventory was not slow. Looking at the increase in net profit, some of the inventory was also included in receivables and inventory.

The net operating amount over the past 5 years has basically been offset by the net investment amount. It is a typical company whose profits are all in assets.

Currently, the price-earnings ratio is 22.5 and the price-earnings ratio TTM16 is not very attractive.