$Innoviva (INVA.US)$ 🎯 2024.4.8 The current price is 14.69,...

New data: 23Q3, 23Q4, revenue remained flat in Q3, increased sharply in Q4, operating profit and net profit shrank in Q3, and increased in Q4.

Revenue shrank by 6.3% in 2023, operating profit shrank by 45% due to a decline in gross margin and a sharp increase in the share of expenses, net profit shrank by 18.4%, and return on net assets fell to 29%.

The balance ratio fell from 54.1% to 45.7%, total assets increased slightly, and net assets increased more. Asset-side cash has declined a lot, mainly due to an increase in investment and advance payments. Short-term loans of $96 million on the debt side were paid off, and long-term loans did not change much, accounting for 66% of net assets.

Net operating cash flow was higher than net investment, and continued to generate shareholder surpluses.

Currently, the price-earnings ratio is 6.7, and the valuation is not very high. The improvement in business in the past two quarters is obvious, and there is no need for adjustments for the time being.