$ACI Worldwide (ACIW.US)$It is a USA company listed at $15 i...

Over the past 5 years, the revenue has grown slowly overall, with only a 1.4% decline in 2018 and an average growth rate of 6.4%. Operating profit has grown rapidly, with only a 1.7% decline in 2019 and an average growth rate of 24.7% over 5 years. In 2021, there was a 45% increase, mainly due to a decrease in cost ratio. Net income has varied greatly due to the impact of income tax, with an average growth rate of 23% over the past 3 years.

Revenue in the first half of 2022 increased by 13%, operating profit increased by 1.7 times, and net income increased by 5.3 times to 28.83 million.

The income statement shows that the interest expense accounted for 16% of the operating profit in 2021 and a heavier burden of 31.6% in the first half of 2022.

Over 5 years, the asset liability ratio has risen from 59% to 65.3%, then dropped back to 60.6%, and rose back to 62.5% in Q2 2022.

The balance sheet shows goodwill of 1.28 billion, more than one times the net assets of 1.208 billion. Long-term borrowings reached 1.03 billion, with a leverage ratio of 85%. Considering the proportion of goodwill, the actual leverage ratio is higher.

Over 5 years, the cumulative net operating cash flow was only 1.024 billion, cumulative net investment cash flow 1.006 billion, with almost no shareholder surplus.

The current PE ratio is 19.8, the TTM PE ratio is 15.5, compared to the growth rate, it is not considered high. However, as the company's profit mainly comes in the fourth quarter and is currently lacking key data, and last year's profit growth mainly relied on cost reduction and expense control, whether there is enough room for growth this year needs to be verified at the end of the year. Currently, it is advisable to make cautious choices and hold a small position.