TechTarget旅遊股票討論區

$TechTarget旅遊(TTGT.US)$在2022年10月的盤點中因爲2022年利息費用和2021年相比很不正常被排除，至今股價下滑48%。
2007年上市，主要做面向科技公司的營銷業務，3/4市場在美國，當前價格32.52。
5年來營收前4年增長，2023年萎縮22.7%，平均增速13.6%，營業利潤則由於成本費用1彈性過小而轉爲小幅虧損，淨利潤受利息收入影響小幅盈利446萬。2023年利息收入達到1,165.5萬，沒有利息負擔，這可能和近期長短利率倒掛有關。毛利率近5年從76.2%下滑到67.2%，淨資產收益率僅在2022年達到18.9%，2023年跌回2%。
5年來資產負債率從31%提升至68.2%。 商譽在2020年大幅增長，說明有收購行爲，這解釋了2020到2022年營收和利潤的高速增長，通常收購驅動的增長時間有限，這在2023年體現了出來。商譽及其他無形資產2.83億，是2.23億淨資產的1.27倍，長期借款4.11億，現金3.3億，實際槓桿率不高。庫存股3.29億。
5年來現金流經營淨額低於投資淨額，沒有產生股東盈餘。
目前市盈率203，即使以2022年...

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$TechTarget旅遊(TTGT.US)$是2007年以13美元上市的美國公司，當前價格60.2，年化回報率11%，還不錯。
5年來營收在前4年低速成長，2021年暴增77.5%，營業利潤則持續保持高速增長，5年平均增速爲38%，近3年平均增速27%。淨利潤前4年快速增長，2021年暴跌94%，主要是由於2021年產生了2327萬的利息費用，資產負債表顯示2021年長期借款從1.54億增加到了4.53億，遠遠超過淨資產2.23億，因此2021年利息費用達到了營業利潤的68%，非常驚人的變化。
有意思的是2022前兩季度利息費用僅154萬，而長期借款並沒有變化，難道利息是下半年集中付？
2022年上半年營收增加26%，營業利潤增加到3000萬，淨利潤增加到2000萬，但是考慮到利息費用的不正常情況，全年利潤可能會有較大波動。
目前150倍市盈率TTM，無論從哪個角度看風險都太高了。

In a November 4th interview, the CEO of Bloomberg Media Justin Smith said that "There’s been this windfall of advertising spend that has really been unprecedented," and added that "I’ve never seen anything like it in my career."
"It started in 2020, the second half, particularly in the fourth quarter," he said. "It powered through 2021. Particularly digital advertising, but even some of the traditional platforms like TV and print have done extremely well."
His comments were corroborated by Q3 earnings results from ad tech stocks. $谷歌-C(GOOG.US)$ is trading at an all-time high after reporting earnings. $The Trade Desk(TTD.US)$ jumped after analysts raised estimates for TradeDesk's full year earnings, leading to gains for other ad tech stocks, including $Pubmatic(PUBM.US)$ , $Criteo(CRTO.US)$ , $Magnite(MGNI.US)$ , $TechTarget旅遊(TTGT.US)$ ), and $Cardlytics(CDLX.US)$ .
$Taboola Com(TBLA.US)$ reported strong results today and raised full year guidance, suggesting the strength in ad spending has continued from Q3 into Q4.
Note that Taboola rival $Outbrain(OB.US)$ has yet to report results.