CSI Intelligent Financial News Espressif Technology (688018) disclosed its third quarter report for 2024 on October 24. In the first three quarters, the company achieved operating income of 1.46 billion yuan, a year-on-year increase of 42.17%; net profit attributable to the parent company was 251 million yuan, a year-on-year increase of 188.08%; deducted non-net profit of 231 million yuan, a year-on-year increase of 237.99%; the net cash flow from operating activities was 91.6499 million yuan, a year-on-year decrease of 55.57%; During the reporting period, Espressif's basic earnings per share was RMB2.7167, with a weighted average return on equity of 12.91%.

Based on the closing price on October 23, Espressif Systems currently has a price-to-earnings ratio (TTM) of about 49.44x, a price-to-book ratio (LF) of about 7.29x, and a price-to-sales ratio (TTM) of about 7.95x.

According to the data, the company is mainly engaged in the research and development, design and sales of integrated circuit products.

In terms of profitability, the company's weighted average return on equity in the first three quarters of 2024 was 12.91%, an increase of 8.32 percentage points year-on-year. The company's return on invested capital in the first three quarters of 2024 was 11.59%, an increase of 8.57 percentage points from the same period last year.

In the first three quarters of 2024, the company's net cash flow from operating activities was 91.6499 million yuan, a year-on-year decrease of 55.57%; The net cash flow from financing activities was -167 million yuan, a decrease of 137 million yuan year-on-year, and the net cash flow from investment activities was 222 million yuan, compared with -89.9384 million yuan in the same period last year.

In terms of major changes in assets, as of the end of the third quarter of 2024, the company's debt investment decreased by 41.26% from the end of the previous year, accounting for 16.39 percentage points of the company's total assets, inventory increased by 98.88% from the end of the previous year, accounting for 8.38 percentage points of the company's total assets, the total trading financial assets decreased by 100% from the end of the previous year, accounting for 4.1 percentage points of the company's total assets, and other current assets increased by 99.29% from the end of the previous year. The proportion of the company's total assets increased by 3.69 percentage points.

In terms of major changes in liabilities, as of the end of the third quarter of 2024, the company's notes payable and accounts payable increased by 111.6% from the end of the previous year, accounting for 3.17 percentage points of the company's total assets, employee compensation payable decreased by 12.07% from the end of the previous year, accounting for 1.03 percentage points of the company's total assets, deferred income tax liabilities increased by 42.46% from the end of the previous year, accounting for 0.77 percentage points of the company's total assets, and other payables (including interest and dividends) An increase of 177.62% from the end of the previous year, accounting for 0.76 percentage points of the company's total assets.

For the first three quarters of 2024, the company has a current ratio of 5.09 and a quick ratio of 3.61.

According to the third quarterly report, among the top ten circulating shareholders of the company at the end of the third quarter of 2024, the new shareholders are the National Social Security Fund 602 Portfolio and Ruijun Youfu No. 2 Private Securities Investment Fund, replacing Robin Wood Co., Ltd. and ICBC AXA Life Insurance Co., Ltd. - long-term dividend products at the end of the second quarter. In terms of specific shareholding ratios, the holdings of Hong Kong Securities Clearing Co., Ltd., Ruijun Youfu No. 1 Private Securities Investment Fund, Ruijun Youfu No. 3 Private Securities Investment Fund, Guolianan CSI All-Index Semiconductor Products and Equipment Exchange-traded Open-ended Index Securities Investment Fund, and Debang Semiconductor Industry Hybrid Initiation Securities Investment Fund have increased, while Espressif (Hong Kong) Investment Co., Ltd., Shinvest Holding Ltd., and Ningbo Meishan Bonded Port Area Leyu Investment Management Partnership (Limited Partnership) Shareholdings have declined.

Proofreading: Shen Nan

Indicator Annotation:

P/E ratio = total market capitalization / net profit. When the company loses money, the P/E ratio is negative, and it is not practical to use the P/E ratio for valuation, and the P/B ratio or P/B ratio is often used as a reference.

Price-to-book ratio = total market capitalization / net assets. The price-to-book ratio valuation method is mostly used for companies with large fluctuations in earnings and relatively stable net assets.

Price-to-sales ratio = total market capitalization / operating income. The price-to-sales ratio method is often used for growing companies that are losing money or making small profits.

The price-to-earnings ratio and price-to-sales ratio in this article are calculated using the TTM method, that is, the data for the 12 months up to the latest financial report (including forecast). The price-to-book ratio is calculated using the LF method, that is, based on the latest financial report data. The quantile calculation range of the three is from the company's listing to the latest announcement date.

When the P/E ratio and price-to-book ratio are negative, the current quantile is not displayed, which will cause the line chart to be interrupted.