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$MoneyGram International (MGI.US)$In the past 5 years, the c...

$MoneyGram International (MGI.US)$In the past 5 years, the company's revenue declined in the first 3 years, followed by a slight increase in the last two years. Overall, it has shrunk. However, operating profit reached a high point of 0.103 billion in 2020, and then declined and rebounded. The average growth rate in the past 3 years is 21%. Net income has been negative for the first 4 years due to interest expenses. In 2022, interest expenses decreased significantly by 0.02 billion, and combined with the slower growth rate of costs and expenses compared to revenue, net income turned around and reached 0.034 billion.
The balance sheet shows that accounts receivable increased from 0.7 billion to 1.1 billion in 2022, while the revenue for the same period was only 1.31 billion, with a revenue increase of only 0.03 billion and a net income of only 0.034 billion. This is clearly not a normal accounts receivable growth rate.
Long-term borrowings amount to 0.785 billion, and the net assets are negative. It will take 23 years to repay the long-term borrowings with the current net profit.
The current PE ratio is 32, and the valuation lacks attractiveness.
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