$Qorvo (QRVO.US)$The stock price has shrunk 13.7% since it w...

Launched in 2015, it mainly deals in the RF and power semiconductor business. 51% of the market is in the US, and the current price is 112.17.

In the past 5 years, revenue grew in the first 4 years, shrank by 23.2% in 2023, with an average growth rate of 3.7%. After reaching a high in 2022, operating profit shrank sharply by 85.1% in 2023 due to a sharp decline in gross margin and cost growth, and net profit shrank to 100 million. Interest expenses for 2023 are $68 million. Gross margin increased from 38.7% to 49.2% in the first 4 years, and fell sharply to 36.3% in 2023.

In the first three quarters of 2024, revenue contracted by 3.7%, operating profit shrank sharply by 83.4%, and net profit turned into a loss of 73 million yuan.

Currently, the price-earnings ratio is 112, and the price-earnings ratio is TTM loss. The 5-year average net profit of 470 million yuan corresponds to a price-earnings ratio of 23. Looking at cyclical stocks, the valuation is not low, and it is not attractive for the time being.