$Best Buy (BBY.US)$ 🎯 2024.3.13 Current price 78.49, positi...

New data: In 24Q4, revenue contraction narrowed to 0.6%, operating profit increased 6.7% due to increased gross margin, and net profit shrank 7.1% due to restructuring and merger and acquisition expenses of 170 million yuan.

In 2023, revenue contracted 6.2% for the second year in a row, operating profit shrank by 11.1%, and net profit shrank by 12.5%.

The balance ratio fell from 83.2% to 79.6%. The debt side mainly reduced accounts payable by 1 billion dollars, and the asset side reduced current assets by 1 billion yuan.

Net operating cash flow was higher than net investment, generating shareholder surpluses.

Currently, the price-earnings ratio is 13.8. Net profit in 2024 is lower than in 2020, the lowest in 5 years. 2023 is a year where performance has taken a sharp turn, and 2024 has not been reversed. Currently, there is no value in continuing to hold, so it is possible to close the position and exit.