$McGrath RentCorp (MGRC.US)$Revenue has continued to grow ov...
$McGrath RentCorp(MGRC.US$Revenue has continued to grow over the past 5 years, with an average growth rate of 9.7%, with an average growth rate of 19% in 2022. Operating profit shrank for two years in 2020 and 2021, respectively, due to falling gross margin and increased expenses. The remaining 3 years grew rapidly, with an average growth rate of 12%. Net profit fluctuated slightly due to income tax. Profit before tax declined for only 1 year in 2021, with an average growth rate of 12.4% for 5 years, and an average growth rate of 9.7% for net profit in the past 4 years.
Revenue increased by 31.7% in the first two quarters of 2023, operating profit increased by only 15.2% due to a sharp increase in expenses, and continued operating profit declined 4.2% due to a sharp increase in interest expenses. However, due to a large amount of profit from cessation of operations, net profit increased 1.3 times to 100 million.
Currently, the price-earnings ratio is 21.5, and the price-earnings ratio TTM has dropped sharply to 14.4. If the annual net profit reaches 200 million, the price-earnings ratio will drop to 1.24 billion yuan. Considering that most of the net profit for the past six months has been profit from cessation of operations, it is impossible to judge for the time being.
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