$Perdoceo Education (PRDO.US)$🎯 2023.8.3 The current price ...

New data: The third quarter and the whole year after 2022, 2023Q1

In 2022, revenue increased slightly by 0.31%, operating profit decreased by 9.9%, net profit decreased by 12.6%, interest income was 6.47 million, and there was no interest burden. The write-off is about the same as previous years, $45 million. It is estimated that student loans and the like will not be collected. The 2022 data reduced the average growth rate for the past 4 years to 14.8%.

Revenue for 2023Q1 increased 6.9%, operating profit declined 4.8% due to rapid cost growth, and net profit increased 7.5% due to reduced write-offs.

The balance ratio increased slightly from 23.3% to 24.2% in 2022, and fell back to 21% in 2023Q1.

Goodwill and other intangible assets increased to $295 million, accounting for 38.8% of net assets of $761 million.

Inventory stocks have reached 305 million, but over the years, the share capital has not only not decreased, but has been increasing. Under these circumstances, inventory stocks only played a negative role in reducing capital utilization.

Over the past five years, the total amount of net cash flow operations was 649 million, and the net investment amount was 405 million yuan, with a small percentage of investment surplus.

Currently, the price-earnings ratio is 10, and the price-earnings ratio is TTM 9.7. Considering that the recent downward trend in profit has not been lifted, the current valuation is not underestimated, so it is possible to close the position.