$Haleon (HLN.US)$It just went public in 2022 with a current ...

In the first year of going public, revenue increased by 13.8%, operating profit increased by 11.4%, and net income decreased by 22.2% due to a significant increase in interest expenses.

In Q1 2023, revenue increased by 13.7%, operating profit increased significantly by 34.6%. This is mainly due to the slower growth of operating expenses compared to revenue growth, but interest expenses increased significantly, accounting for 13.6% of operating profit, which is a slightly heavy burden. Net income increased by 16.3%.

The debt-to-assets ratio has increased significantly from 23.1% to 52.7% after going public, which is a negative sign.

The balance sheet in 2022 shows a relatively healthy proportion and growth rate of accounts receivable, but inventory has increased by 0.4 billion to reach 1.35 billion, which is still within a normal range but slightly fast growth.

Other receivables dropped significantly from 2.341 billion to 0.288 billion. I don't know if it's a good thing or a bad thing.

Goodwill is 8.396 billion, about half of the net assets.

Long-term borrowings increased from 0 to 9.886 billion, accounting for 60% of the net assets. Considering the proportion of goodwill in net assets, the leverage ratio is extremely high.

Net investment amount in 2022 was 8.8 billion, while the operating profit was only 2.1 billion. Currently, there is a significant net outflow of cash.

The current P/E ratio is 29.4. It may be better to wait for a few more financial reports before evaluating.