$Dropbox (DBX.US)$It was excluded from the fall 2022 invento...

Launched in 2018, it is mainly a cloud storage business. 54% of the market is in the US, and the current price is 33.11.

Revenue has continued to grow over the past 5 years, with an average growth rate of 16%, but the slowdown is very obvious. In 2022, operating profit reversed losses in 2020, and the growth rate fell to 16.6% in 2022. Net profit before tax shrank 35.6% due to capital asset impairment. Fortunately, with high income tax rebates, net profit after tax increased by 64.7%. There is no interest burden in 2022. The gross margin increased sharply from 71.6% to 80.9% in the past 5 years.

In the first three quarters of 2023, revenue increased by 8.1%, operating profit shrank by 0.33%, net profit before tax increased by 4.1%, and increased by 0.6% after tax.

Currently, the price-earnings ratio is 21.8 and the price-earnings ratio is TTM21.2. The valuation is not very attractive for a stock whose profit growth has stalled.