$Hackett Group (HCKT.US)$In the past five years, revenue dec...
$Hackett Group (HCKT.US)$In the past five years, revenue declined two years from 2019 and recovered two years without much change. Although operating profit also declined two years from 2019, growth has been good in the past two years. The five-year average growth rate has reached 12.7%, net profit has also increased 70% in the past two years compared to the previous two years, and the five-year average growth rate is 8.3%.
In 2022, the balance ratio increased sharply from 30.7% to 68.5%, and long-term loans increased from 0 to 60 million, which is basically equal to net assets. The money borrowed seemed to have all been repurchased. The treasury stock increased from 157 million to 274 million, and the company's total market capitalization was only 500 million, but the relatively bad thing was that the company used expensive cash to buy back stocks without cancellation. This is equivalent to speculating on one's own company's stock, with endogenous leverage.
The current price-earnings ratio is 14.4. Although there is a certain discount compared to the recent growth rate of operating profit, profit growth when overall revenue is lacking mainly comes from cost and expense control. There are doubts about the sustainability of this growth, and it is not very attractive for the time being.
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