$Perficient (PRFT.US)$Revenue and operating profit continued...

The income statement shows that interest expenses fell sharply in 2022, accounting for only 2% of operating profit, and the burden is very light.

The impact of restructuring and mergers and acquisitions has also begun to dissipate, with costs of only 4 million in 2022.

The balance ratio has increased from 38% to 58.8% in the past 5 years. In 2022, accounts receivable were 214 million, accounting for 24% of revenue, and the ratio is already at a reasonable limit. Accounts receivable increased by 49 million in 2021, which is comparable to net profit of 52 million in the year. Accounts receivable increased by 32 million in 2022, far lower than the net profit of 104 million in the year. The situation has greatly improved.

Goodwill has continued to increase in the past 3 years, increasing by a little more than 100 million in 2020 and 2021, and by 57 million in 2022. Currently, 654 million goodwill is 1.6 times the net assets of 410 million, and the assets are very scarce.

What is interesting is that long-term loans continued to increase, reaching 395 million in 2022, and I don't know how to achieve a sharp drop in interest costs.

The share capital increased slightly in 2020 and increased 6% in 2021. The treasury stock is 355 million, which is higher than goodwill when added to net assets.

Over the past 5 years, a small percentage of net operating cash flow was higher than net investment, and there was a small shareholders' surplus.

Currently, the price-earnings ratio is 23.7, which is a big discount compared to the growth rate, but considering the unreasonable situation where interest costs have dropped drastically, you can choose carefully (⭐️)