$ACI Worldwide (ACIW.US)$It is a US company that went public...

The overall revenue has grown slowly in the past 5 years, with only a 1.4% decline in 2018 and an average growth rate of 6.4%. The operating profit has grown rapidly, with only a 1.7% decline in 2019 and an average growth rate of 24.7% over 5 years, with a 45% increase in 2021, mainly due to the reduction in cost. The net income has varied greatly due to the impact of income tax, with an average growth rate of 23% in the past 3 years.

The 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 31.6% in the first half of 2022, a somewhat heavy burden.

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

The balance sheet shows goodwill at 1.28 billion, accounting for over 1.208 billion of net assets, long-term borrowings at 1.03 billion, resulting in a leverage ratio of 85%, which is even higher considering the proportion of goodwill.

The cumulative net operating cash flow over the past 5 years is only 1.024 billion, with a cumulative net investment of 1.006 billion, resulting in 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.