$Topbuild (BLD.US)$🎯 On 1st April 2024, the current price i...

New data: Q4 2023, revenue growth of 1.7%, operating profit growth of 0.83%, net income growth of 1.8%, a decrease on a quarter-on-quarter basis.

Revenue in 2023 increased by 3.7%, operating profit increased by 10.2%, net income increased by 10.5%, with a significant slowdown in growth.

The balance sheet shows a major acquisition was completed in 2021, and the high-speed growth in 2021 and 2022 may be due to the acquisition. However, the acquisition effects faded in 2023, resulting in a slowdown in growth.

The asset-liability ratio has decreased from 58.1% to 50.3%. The main increase in assets is in cash, currently reaching 0.85 billion, goodwill and other intangible assets amount to 2.634 billion, exceeding the net assets of 2.564 billion, and long-term borrowings amount to 1.373 billion.

Currently the P/E ratio is 23, the valuation is still within a reasonable range, but considering the recent significant decline in growth rate, it is advisable to reduce positions appropriately.