$Jakks Pacific (JAKK.US)$The revenue has grown rapidly in th...

逍遥投资派 commented on a stock · Apr 29, 2023 20:46

$Jakks Pacific (JAKK.US)$The revenue has grown rapidly in the past two years, and the operating profit has increased continuously for 5 years. The profit was turned around in 2020, reaching 0.061 billion in 2022. The net income was affected by interest expenses and non-operating losses. It wasn't until 2022 that the profit was turned around, reaching a pre-tax profit of 0.05 billion. With an income tax refund of 0.041 billion, the net income in 2022 reached 0.091 billion.

The income statement showed a significant reduction in the company's sales and administrative expenses in 2020, so the operating profit was able to turn around. Subsequently, the growth rate of sales and administrative expenses also slowed downrelatively, so the operating profit maintained rapid growth.

Interest expenses in 2022 decreased to 0.011 billion, accounting for 18% of operating profit. Although the interest burden has declined significantly, it is still relatively high.

The asset-liability ratio has increased from 84.9% to 98.9% in the past five years and then declined to the current 63.8%.

In the past five years, except for 2021, accounts receivable has remained around 0.11 billion without significant changes. Inventory decreased to 0.039 billion in 2020, surged to 0.084 billion in 2021, and slightly decreased to 0.081 billion in 2022. The proportion of revenue is not high.

Long-term borrowing is 0.042 billion, accounting for 29% of net assets of 0.147 billion. The leverage ratio is not very high.

For the past 5 years, the cash flow from operations has been higher than the net investment, resulting in some shareholder surplus.

The current P/E ratio is 2.5, and the P/E ratio after excluding tax refunds is 4.4. If there is a net loss of 0.03 billion in 2022 and 2021, similar to previous years, then the net income would decrease to 0.02 billion, resulting in a P/E ratio of 11.

Overall, the operation has shown significant improvement, but it has only been profitable for one year, so caution should be exercised (⭐️).

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逍遥投资派

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