$Globus Medical (GMED.US)$Revenue has continued to grow over...
$Globus Medical(GMED.US$Revenue has continued to grow over the past 5 years, with an average growth rate of 10%. Operating profit declined sharply in 2020, mainly affected by cost surges. It recovered rapidly in the next two years, with an average growth rate of 7.3% for 5 years and 21.2% growth rate in 2022. Net profit declined by 34.1% in 2020, then recovered rapidly in the next two years. The 5-year average growth rate was 12%, and the growth rate in 2022 was 27.5%.
Interest expenses account for 6% of operating profit in 2022, and the burden is not heavy.
In 2023Q1, revenue increased by 20%, operating profit increased by 18.6%, and net profit increased by 29%.
The balance ratio increased slightly from 8.8% to 11.1% over the past five years.
In 2022, accounts receivable increased by 51 million dollars, inventory increased by 62 million, and net profit during the same period was 190 million. The increase was reasonable, but inventory of 300 million yuan reached 30% of revenue of 1 billion dollars, which is too high.
Over the past five years, net operating amount has accumulated 1.01 billion yuan, net investment amount has accumulated 940 million, and shareholder surplus is very small.
Currently, the price-earnings ratio is 30.2, and the price-earnings ratio TTM is 28.5. Although there is a certain discount from the short-term growth rate, the long-term growth rate is not very fast. The balance sheet is very stable, yet shareholder surplus has not been created much, and currently it is not very attractive.
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