$Warner Music (WMG.US)$In the past five years, except for a ...
$Warner Music (WMG.US)$In the past five years, except for a 0.3% decline in 2020, revenue has grown for four years, with an average growth rate of 10.6% over the past five years. Among them, the growth rate in 2023 was 11.7%. Operating profit experienced losses in 2020 but showed overall growth in the past five years, with an average growth rate of 26.3%. The growth rate in 2023 was 17.2%. Net income experienced a loss of 0.47 billion in 2020 but has shown overall growth in the past five years, with an average growth rate of 30%. The growth rate in 2023 was 81%. Interest expenses in 2022 accounted for 17.5% of operating profit, indicating relatively high interest expenses.
In Q1 2023, revenue increased by 1.7%, operating profit decreased by 0.6%, and net income decreased significantly by 60% due to other income items.
Over the past 5 years, the asset-liability ratio has decreased from 106% to 97.9%, and further decreased to 96.7% in Q1 2023. The proportions and growth rates of accounts receivable and inventory are relatively normal. Goodwill is 1.92 billion, while net assets are only 0.17 billion. Long-term loans have continued to increase over the past 5 years, reaching 4 billion, which conflicts with the data of continuous growth in net income.
The PE ratio is 25.4, and the TTM PE ratio has increased to 32.4. Although it is not expensive compared to the profit growth rate, considering the continuous growth of long-term loans, it is currently not very attractive.
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