$Amkor Technology (AMKR.US)$It was still in the semiconducto...

Launched in 1998, it is mainly engaged in outsourced semiconductor packaging and testing business. 59% of the market is in the US, and the current price is 30.81.

In the past 5 years, revenue contracted in the first and last two years, with an average growth rate of 8.6%. Operating profit shrank by 47.6% in 2023 due to the decline in gross margin, with an average growth rate of 12.7%. Net profit shrank by 52.8% in 2023, with an average growth rate of 22.8%. Interest expenses account for 2.2% of operating profit in 2023, and the interest burden is very light. Gross margin declined to 14.5% after increasing from 16% to 20% in the past 5 years, and the return on net assets fell back to 9.4% from a high of 24.4% in 2021.

The balance ratio has declined from 57.6% to 41% over the past 5 years. The ratio and growth rate of accounts receivable and inventory are relatively normal. There are very few goodwill and other intangible assets. Long-term loans of 1,072 billion yuan account for 26.8% of the net assets of 3,995 billion dollars, and the leverage ratio is not high. Treasury stock of 222 million.

Currently, it has 1.6 billion dollars in cash and plenty of liquidity.

Net cash flow from operating over the past five years was slightly higher than net investment, generating a small percentage of shareholder surpluses.

Currently, the price-earnings ratio is 21.1, and the five-year average net profit of 450 million yuan corresponds to a price-earnings ratio of 16.8. The valuation is relatively reasonable, and the position remains unchanged.