Addus HomeCare's rising ROCE and capital employed are positive signs. The stock's past five-year performance suggests investors may be overlooking these promising trends, indicating potential investment opportunities.
The stock is undervalued, presenting a buying opportunity as future growth isn't fully reflected in the price. Consider the company's capital structure and management record before investing.
Insiders' lack of purchases last year may concern investors, but their ownership indicates alignment with investors. The largest recent insider sale matching the current share price could hint at limited growth. However, investment decisions shouldn't rely solely on directors' actions.
Addus HomeCare's rising ROCE and regular business investment make it a worthwhile consideration for investors. Its capacity to boost returns while expanding capital hints at future growth possibilities. Despite recent 27% return to shareholders, the company's growth potential may still be underestimated.
愛德斯股票討論區
新增數據:2023Q2及Q3
2023前3季度營收增長11.11%,營業利潤增長31.4%,淨利潤增長37.3%。
資產負債率從32.5%提高到33.9%,主要是3季度進行了較大收購,長期借款增加到1.64億,商譽及其他無形資產增加到7.57億,是6.84億淨資產的111%,資產非常虛。
前3季度現金流經營淨額累計低於投資淨額,仍然沒有產生股東盈餘,季度淨資產收益率僅達到2.3%。
通過3個季度的觀察,ADUS的增長似乎是靠收購支持,實際並未產生股東盈餘,淨資產收益率也一直維持在較低的水平,目前看投資價值非常有限,暫時退出觀察。
資產負債率在2020年從25.3%直接飆升到42%,主要是進行了較大規模收購,之後逐步回落到32.5%,2023Q1進一步回落到30.3%。應收賬款近期有所下降,比例也比較正常。商譽及其他無形資產6.55億,和6.49億的淨資產相當,資產的含金量很小。長期借款近期一直在下降,目前降到了1.1億。
5年來現金流經營淨額累計低於投資淨額,沒有產生股東盈餘,淨資產收益率持續小於8%,投資價值有限。
目前價格91.9,市盈率32.4,市盈率TTM 29.7,相對於長期增速來說折扣很高,但是相對於近期增速來說估值太高,吸引力不大,僅可建些觀察倉位👀。
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