$Option Care Health (OPCH.US)$Revenue has continued to grow ...
$Option Care Health(OPCH.US$Revenue has continued to grow rapidly over the past 5 years, with an average growth rate of 19.4% in the past 4 years. Operating profit lost slightly for 1 year due to a sharp rise in expenses in 2019, then reversed losses and continued to grow by 25.9% in 2022, mainly due to large-scale mergers and acquisitions in 2019. Net profit reversed losses in 2021 and increased 7.6% to 150 million in 2022. Interest expenses account for 22.4% of operating profit in 2022, which is a heavy burden.
In 2023Q1, revenue increased 10.9%, operating profit increased 27.5%, and net profit increased 29.5%.
The balance ratio fell to 65% in 2019, continued to decline to 55.5% thereafter, and increased slightly to 56.9% in 2023Q1. The ratio and growth rate of accounts receivable and inventory are healthy. Goodwill and other intangible assets reached 1.9 billion dollars, 1.4 times the net assets of 1.35 billion yuan. The assets have little financial content. With long-term loans of 1,058 million dollars, the burden is not light. There aren't many stocks in stock, only $78 million.
The cumulative net operating amount of cash flow over the past five years has been lower than the net investment amount. The main reason is that M&A investment in 2019 was too high and there was no shareholder surplus.
The current price is 31.3, the price-earnings ratio is 37.7, and the price-earnings ratio is TTM 36. The valuation is not very attractive.
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