$PHC Holdings (6523.JP)$The Japanese company listed in 2021 ...

Since listing, revenue has continued to grow, with an average growth rate of 9.3%. Operating profit fluctuated greatly due to increased gross margin and expenses, while net profit continued to lose in the past two years due to interest expenses and income tax. Interest charges account for 96.6% of operating profit in 2023, and the interest burden is already overloaded. The gross margin is basically around 47%.

In the first half of 2024, revenue shrank by 2.2%, operating profit shrank sharply by 60%, and net profit turned into a loss.

Currently, there is no trend of improving performance, and it is not attractive for the time being.