$UFP Technologies (UFPT.US)$🎯 April 9, 2024, the current pr...

New data: In Q4 of 2023, revenue, operating profit, and net income all continued to grow.

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

The asset-liability ratio decreased from 37.2% to 29.2%, with total assets and net assets increasing. The increase in assets is mainly due to the increase in receivables and inventory, not much increase in cash. The decrease in liabilities is mainly due to the decrease in long-term loans from 0.051 billion to 0.028 billion, representing 10% of net assets.

The significant increase in revenue in 2022 may be due to the acquisition in 2021, with a noticeable decrease in growth rate in 2023, with revenue stable at 0.101 billion for the past three quarters, and operating profit shrinking for two consecutive quarters on a quarter-on-quarter basis.

Currently, the pe is 41.8. Considering that the recent revenue growth seems to have hit a bottleneck, the valuation is already outside the reasonable range, so it may be appropriate to reduce some hold positions.