$TTEC Holdings (TTEC.US)$Revenue grew continuously for 5 yea...
$TTEC Holdings(TTEC.US$Revenue grew continuously for 5 years, with an average growth rate of 10.6%. Operating profit was affected by the rapid increase in operating expenses in the past two years. Instead, it fell 19.1% in 2022, and net profit fell 25.8% in 2022.
Interest expenses surged 2 times to 34.26 million in 2022, accounting for 18% of operating profit, increasing the burden.
The balance ratio has increased from 66.5% to 70.6% in the past 5 years. The growth rate and scale of accounts receivable are normal. Goodwill has grown to 1.04 billion in the past 5 years, reaching nearly half of total assets, more than 634 million in net assets, and very poor assets. Long-term loans of 960 million yuan, accounting for 1.5 times net assets. Considering the amount of money in net assets, the actual leverage ratio is very high. There are 590 million treasury stocks, and borrowing money to buy them back is not a good strategy.
The current price-earnings ratio is 17. Considering the high leverage ratio and the current interest rate environment, it is not very attractive.
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