$UFP Technologies (UFPT.US)$🎯 2024.4.9 The current price is...

New data: 23Q4. Revenue, operating profit, and net profit all continued to grow.

In 2023, revenue increased 13.1%, operating profit increased 38% due to an increase in gross profit, net profit increased by only 7.5% due to other revenue, and the return on net assets fell to 17.2%.

The balance ratio fell from 37.2% to 29.2%, and both total assets and net assets increased. On the asset side, there was mainly an increase in accounts receivable and inventory, and there was no significant increase in cash. On the debt side, mainly long-term loans fell from 51 million to 28 million, or 10% on the net asset side.

The sharp increase in revenue in 2022 may be due to acquisitions in 2021. The growth rate declined significantly in 2023. Revenue stabilized at 101 million in the past three quarters, and operating profit shrank for two consecutive quarters.

Currently, the price-earnings ratio is 41.8. Considering that recent revenue growth seems to have hit a bottleneck, the valuation is already outside a reasonable range, and some positions can be reduced.