$Hudson Technologies (HDSN.US)$Revenue declined slightly for...
$Hudson Technologies (HDSN.US)$Revenue declined slightly for 2 years in 2019 and 2020 over the past 5 years. The remaining 3 years grew rapidly, with an average growth rate of 13%. Operating profit was lost in 2018 and 2019, reversed losses in 2020, and increased 6 times to 42 million in 2021. Net profit only reversed losses to 32 million in 2021.
Revenue increased 79% in the first three quarters of 2022, operating profit increased 2.8 times to 120 million, and net profit increased 2.8 times to 100 million.
As can be seen from gross margin, gross margin recently increased from negative 4.4% to 37%, and further increased to more than 50% in the first 3 quarters of 2022.
The income statement shows that interest expenses in 2021 accounted for 27% of operating profit, and interest expenses for the first 3 quarters of 2022 accounted for 10% of operating profit. The improvement was not a decrease in interest, but rather a higher profit.
The balance ratio declined to 67.1% after rising from 61.6% to 74.9% over the past 5 years, and fell to 40.5% in 2022/Q3.
Inventory increased from 44.46 million to 99.144 million in 2021, an increase of 496.84 million, far exceeding net profit of 32.259 million for that year, accounting for 50% of revenue, which is not a good phenomenon. Inventory increased further to 120 million in Q3 2022, an increase of nearly 60 million, while the revenue for the first 3 quarters was only 89.502 million.
The cumulative net operating amount over the past 5 years is also far lower than the net investment amount, and it has continued to decline over the past 3 years.
Currently, the price-earnings ratio is 15.7, and the price-earnings ratio is TTM 4.9, but considering the high inventory, the risk cannot be ignored.
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