$Amkor Technology (AMKR.US)$In March 2022 analysis, it was s...

Listed in 1998, mainly engaged in outsourcing semiconductor packaging and testing business, with 59% of the market in the USA. The current price is 30.81.

Over the past 5 years, the revenue shrank in the first and last year, with growth in the middle 3 years, averaging at an 8.6% growth rate. The operating profit in 2023 shrank by 47.6% due to the decline in gross margin, averaging a 12.7% growth rate. The net income in 2023 shrank by 52.8%, averaging a 22.8% growth rate. The interest expense in 2023 accounted for 2.2% of the operating profit, indicating a very light interest burden. The gross margin decreased from 16% to 20% in the past 5 years, then declined to 14.5%. The return on equity dropped from a high point of 24.4% in 2021 to 9.4%.

The asset-liability ratio has decreased from 57.6% to 41% in the past 5 years. The proportion and growth rate of accounts receivable and inventory are relatively normal, with very little goodwill and other intangible assets. Long-term borrowings are 1.072 billion, accounting for 26.8% of the net assets of 3.995 billion, and the leverage ratio is not high. There are 0.222 billion treasury stocks.

Currently, there is 1.6 billion in cash, with sufficient liquidity.

The net operating cash flow has slightly exceeded the net investment cash flow in the past 5 years, generating a small proportion of shareholder surplus.

The current PE ratio is 21.1, and the 5-year average net profit of 0.45 billion corresponds to a PE ratio of 16.8, which is relatively reasonable in valuation, so it's advised to maintain the position.