$Topbuild (BLD.US)$🎯 2023.7.13 The current price is 275.6, ...

New data: Quarterly report and annual report for the second half of 2022, 2023Q1

In 2022, revenue increased by 43.7%, operating profit increased by 67.3%, and net profit increased by 71.6%. What is interesting is that interest expenses increased from 29.14 million to 56.72 million in 2022. It is possible that excessive revenue growth has brought too much financial pressure.

In 2023Q1, revenue increased by 8.2%, operating profit increased by 21.6%, net profit increased by 18.5%, and interest expenses increased by 51%.

The balance ratio fell from 61.6% to 58.1% in 2022, and fell to 56.1% in 2023Q1. The ratio and growth rate of receivables and inventories are relatively normal.

Goodwill and other intangible assets of 2.6 billion yuan are 126 times the net assets of 2,065 million yuan. The amount of gold content in assets is very low, but currently there are still 700 million treasury stocks, which are considered invisible assets. Long-term loans of $1,406 million, high leverage ratio.

After 5 years, net operating volume was far lower than net investment, and no shareholder surplus was generated.

Currently, the price-earnings ratio is 16.2, and the price-earnings ratio is TTM15.4. Considering that the current growth has not stopped, position adjustments will not be made for the time being.