$GoDaddy (GDDY.US)$Excluded from the fall 2022 inventory due...

Launched in 2015, it mainly deals in domain names and websites. 2/3 of the market is in the US, and the current price is 110.9.

Revenue has continued to grow over the past 5 years, with an average growth rate of 12.9%. Operating profit lost a large amount of 360 million yuan in 2020 due to other taxes and fees, with an average growth rate of 22%. Net profit lost 490 million in 2020, with an average growth rate of 20.5%. Interest expenses account for 28.3% of operating profit in 2022, and the interest burden is extremely heavy. Gross margin declined from 66.4% to 63.7% in the past 5 years.

In the first three quarters of 2023, revenue increased by 3.4%, operating profit increased 15.4% due to lower expenses, and net profit increased 0.9%.

Currently, the price-earnings ratio is 50.6, and the price-earnings ratio of TTM48 is still unattractive. In particular, the growth rate is mainly due to reduced expenses rather than revenue growth.