$Warner Music (WMG.US)$In the past 5 years, in addition to t...
$Warner Music(WMG.US$In the past 5 years, in addition to the 0.3% decline in 2020, revenue has grown for 4 years, with an average 5-year growth rate of 10.6%, of which 11.7% was an increase of 11.7% in 2023, operating profit was a loss of 1 year in 2020, and an average growth rate of 26.3%. Of these, there was a 17.2% increase in 2023, net profit loss of 470 million dollars in 2020, and an average growth rate of 30% over the past 5 years, with an average growth rate of 30% in 2023. Interest expenses accounted for 17.5% of operating profit in 2022, and interest expenses were high.
In 2023Q1, revenue increased by 1.7%, operating profit declined by 0.6%, and net profit declined sharply by 60% due to other income items.
The balance ratio fell from 106% to 97.9% over the past 5 years, and fell further to 96.7% in 2023Q1. The ratio and growth rate of accounts receivable and inventory are relatively normal. The goodwill is 1.92 billion dollars, and the net assets are only 170 million yuan. Long-term loans have continued to grow over the past 5 years and have grown to 4 billion dollars. This conflicts with the data that net profit continues to grow.
The price-earnings ratio is 25.4, and the price-earnings ratio TTM has increased to 32.4. Although it is not expensive compared to profit growth, considering the data that long-term loans continue to grow, it is currently not very attractive.
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