$CSG International (CSGS.US)$In the fall of 2022 inventory, ...

Launched in 1996, it mainly provides software solutions for communication service providers. 85% of the market is in North America, mainly in the US. The current price is 53.7.

In the past 5 years, with the exception of 2020, revenue grew at an average rate of 6% and 7.3% in 2023. Operating profit grew amid fluctuations, with an average growth rate of 4.3% and 12.1% in 2023. Net profit fluctuated more sharply due to other revenue. There was almost no increase in the past 5 years, and increased by 50.4% in 2023 due to a sharp reduction in restructuring and mergers and acquisitions expenses. Interest expenses account for 19.2% of operating profit in 2023, and the interest burden is heavy.

Currently, the price-earnings ratio is 24.4. Considering that the main driver of last year's growth was not core profit, the long-term growth rate is almost zero, which is unattractive for the time being.