$Eltek(ELTK.US)$The Israeli company, which was listed in 1997, is mainly in the custom PCB business. The main market is Israel, and the current price is 10.8.
In the past 5 years, revenue grew by 4 years except 2021, and operating profit increased rapidly for 4 years except 2021. Net profit was affected by fluctuations in gross margin and increased rapidly for 4 years except in 2022. Net profit in 2023 was 6.35 million. However, after reviewing past revenue data, it was found that it was very cyclical. There was no obvious growth in the long run, and it was not very attractive.

$M-tron Industries(MPTI.US)$The US company listed in 2022 is mainly engaged in frequency and spectrum control products. The main market is in the US, and the current price is 26.95.
Revenue, operating profit, and net profit all grew rapidly in the two years after listing. In 2023, revenue increased by 29.3%, operating profit increased by 49.5%, and net profit increased by 94%. However, when the gross profit in 23Q4 was only 4.69 million, operating expenses skyrocketed to 4.753 million. I don't know if it is a one-time or long-term increase in expenses. Let's take a moment to observe.

$LSI Industries(LYTS.US)$Major acquisitions were carried out in 2021, and revenue continued to grow in the past 3 years. The growth rate fell to 9.2% in 2023. Operating profit continued to grow sharply due to an increase in gross margin, and net profit grew very fast in the past two years, reaching 71.4% in 2023.
In the first three quarters of 2024, revenue contracted by 8.8%, operating profit shrank by 1%, and net profit increased by 11.3%.
Currently, the price-earnings ratio is 16.9. Considering that the rapid growth brought about by acquisitions usually disappears within a few years, revenue has begun to shrink recently, so wait and see.

$Daktronics(DAKT.US)$It has grown amid fluctuations in revenue over the past 5 years. Operating profit reversed losses in 2021 but was very unstable, and net profit was similar. In 2024Q1, revenue surged 35%, and net profit also increased 4.6 times, but the growth rate slowed sharply in the next two quarters. Currently, the price-earnings ratio is 63, and the price-earnings ratio TTM has dropped to 8.2, so we can continue to observe.

$Methode Electronics(MEI.US)$In the analysis 2 years ago, it was excluded because of shrinking profits in 2021 and the valuation was not very attractive, and the stock price has fallen 72.3% so far.
An American company launched in 2007, mainly engaged in remote control, electronics, wireless and sensor businesses.
Revenue has continued to grow over the past 5 years. Operating profit has declined for 4 years except in 2020 due to a decline in gross margin and an increase in the share of fees, and net profit has continued to decline sharply for the past 3 years due to other non-operating income. The gross margin fell from 26.6% to 22.4% in the past 5 years, and the return on net assets fell to 8.3% from a high of 16.8% in 2020.
Revenue shrank 4.7% in the first three quarters of 2024, operating profit shrank sharply by 92.7% due to lower gross margin and higher share of expenses, and net profit lost a significant loss of 66 million dollars due to the impairment of capital assets.
Currently, the price-earnings ratio is 6. Considering that there is still no sign of improvement in business, wait and see.

$Allient(ALNT.US)$The American company, which was listed in 1980, is mainly engaged in motion control components and systems business. 70% of the market is in North America, and the current price is 30.27.
In the past 5 years, revenue has increased for 4 years except 2020. The average growth rate is 13%, the average operating profit growth rate is 12.7, and net profit fluctuates greatly due to income tax fluctuations, with an average growth rate of 8.6%. The gross margin increased slightly from 30.3% to 31.7% in the past 5 years, and the return on net assets fell from 15.4% to 10.3%.
Currently, the price-earnings ratio is 20.5, and the valuation is within a reasonable range, which is unattractive for the time being.

$Benchmark Electronics(BHE.US)$In the analysis 2 years ago, it was excluded because of excessive profit fluctuations and unattractive valuations, and the stock price has increased by 32.6% so far.
The US company, which was listed in 1990, is mainly engaged in product design, engineering services, technical solutions, etc. 60% of the market is in the US, and the current price is 31.2.
There has been a slight increase in revenue fluctuations over the past 5 years, with an average growth rate of 2%. Operating profit shrank in the previous two years and increased in the past 3 years. There is a certain periodicity. The average growth rate is 11.7%, and the average net profit growth rate is 23%. Due to share buybacks, earnings per share grew by 29.6%. Interest expenses account for 21.7% of operating profit in 2023, and the interest burden is heavy. The gross margin increased from 8.2% to 9.6% in the past 5 years, and the return on net assets increased from 2.2% to 6.1%.
Currently, the price-earnings ratio is 17.5 and the net price-earnings ratio is 1. Although the valuation doesn't seem high, the gross margin and return on net assets are currently not very attractive. Plus, they seem to be somewhat cyclical, so wait and see for the time being.

$CTS Corp(CTS.US)$In the analysis 2 years ago, overvaluation was excluded due to insufficient profitability, and the stock price has increased 34% so far.
The American company, which was listed in 1962, is mainly engaged in the business of sensors, electronic components and actuators. The main market is in the US, and the current price is 45.48.
It has grown amid fluctuations in revenue over the past 5 years, with an average growth rate of 3.2%, an average growth rate of 4.4% in operating profit, and an average growth rate of 5.5% in net profit. Among them, in 2021, it also lost 1 year due to other non-operating expenses.
The current price-earnings ratio of 23.7, and the growth rate is too high compared to the valuation, which is unattractive.

$Vicor(VICR.US)$In the analysis 2 years ago, it was ruled out because the valuation was too high, and the stock price has fallen by 45.6% so far.
The US company, which was listed in 1991, is mainly engaged in the power supply components and systems business. The main markets are the US Asia Pacific and Europe, and the current price is 33.72.
In the past 5 years, with the exception of 2019, revenue grew at an average rate of 6.8%. Operating profit was greatly affected by fluctuations in gross margin. 2021 and 2023 were the two highs of gross margin and operating profit. The 5-year average growth rate was 9.65, and the average net profit growth rate was 11%.
Revenue, operating profit, and net profit declined sharply across the board in 2024Q1.
Currently, the price-earnings ratio is 28, and the price-earnings ratio is TTM 33.6. The average net profit for the past 3 years is 33.2 million. There was no pattern in past gross margin fluctuations, profit fluctuations were difficult to predict, and the long-term growth rate was not high. Currently, valuations are not very attractive.

$Rogers(ROG.US)$In the analysis 2 years ago, it was ruled out because the valuation was too high, and the stock price has dropped 60% so far.
The American company, which was listed in 2000, is mainly engaged in engineering materials and parts business. The main markets are in China, the US and Germany, and the current price is 108.9.
There has been almost no change in revenue fluctuations over the past 5 years, and has shrunk amid fluctuations in operating profit. Net profit has been greatly affected by mixed and mixed net income, and there are no regular changes.
Currently, the price-earnings ratio is 36, and the five-year average net profit of 76 million yuan corresponds to a price-earnings ratio of 26.7. The valuation is not very attractive for stocks with almost stagnant revenue growth.