$Qualys (QLYS.US)$Excluded from the inventory in the autumn ...

Listed in 2012, mainly engaged in cloud security and compliance business, with 60% of the market in the USA. The current price is 166.92.

Over the past 5 years, revenue has continued to grow at an average rate of 14.7%. Operating profit shrank for one year in 2021 due to expenses, with an average growth rate of 26.5%, and net income has an average growth rate of 21.5%. There has been no interest burden in the past 5 years. The gross margin has increased from 78.4% to 80.6% in the past 5 years, and the return on equity has increased from 16.3% to 29.8%.

Over the past 5 years, the asset-liability ratio has increased from 42.8% to 54.7%. The proportion and growth rate of receivables are relatively normal. Goodwill and other intangible assets amount to 0.017 billion, accounting for 4.6% of the net assets of 0.368 billion, with no interest-bearing liabilities.

In the past 5 years, the net cash flow from operations has been significantly higher than the net cash flow from investments, resulting in a substantial amount of shareholder equity.

Currently, the PE ratio is 42.5. If it maintains a growth rate of 21.5% for 3 years, the PE ratio will decrease to 23.7, which still seems somewhat attractive. It may be a cautious choice (⭐️).