$Paycom Software (PAYC.US)$In the analysis of December 13, 2...

The US company, which was listed in 2014, is mainly engaged in payroll and human capital management software business. Single US market, current price is 172.82. Revenue has continued to grow over the past 5 years, with an average growth rate of 24.4%. Operating profit shrank for 1 year due to excessive increases in the share of expenses in 2020. The average growth rate was 21%, and the average net profit growth rate was 20%. Interest charges for 2023 are negligible. The gross margin fell from 85.1% to 83.7% in the past 5 years, the net margin fell from 24.5% to 20.1%, and the return on net assets fell from 41.9% to 27.4%.

24Q1 revenue increased 10.7%. Due to negative management expenses, operating profit increased sharply by 78%, and net profit increased by 110 million to 250 million. This should be a one-time event, so there is no need to take it too seriously.

The balance ratio has declined from 78.8% to 69% over the past 5 years, and both total assets and net assets have increased. There are very few accounts receivable and inventory, goodwill and other intangible assets of $102 million, accounting for 7.8% of the net assets of 1.03 billion. There are very few interest-bearing loans, and the leverage ratio is extremely low. Treasury stock of 890 million.

Net cash flow from operating over the past 5 years has been higher than net investment, generating a large number of shareholders' surpluses.

Currently, the price-earnings ratio is 29.4, and the price-earnings ratio is TTM21.1. There is still a certain discount on the valuation and growth ratio, so you can choose carefully (⭐️)