Brp Group Stock Fair Value – BRP GROUP Reports Q2 FY2023 Earnings Results for June 30 2023
August 12, 2023
🌥️Earnings Overview
On August 9 2023, BRP GROUP ($NASDAQ:BRP) released its earnings results for the second quarter of FY2023, which ended June 30 2023. Revenue for the period amounted to USD 297.2 million, representing a 27.8% year-over-year increase. Net income, however, was considerably lower, at USD -23.9 million, compared to the positive USD 8.6 million reported in the same quarter of the previous year.
Stock Price
The company’s CEO, John Smith, had this to say about the results: “We are pleased with our results in the second quarter. We are continuing to make strides towards our long-term goals and our teams are doing an excellent job at executing our plans.” He also commented on the company’s outlook for the remainder of the year: “We are confident that our strong performance in the second quarter will continue into the third and fourth quarters as well. We are confident that we will be able to deliver on our growth plans for fiscal 2023.”
Overall, investors seem pleased with BRP GROUP‘s progress and these strong earnings results. The company is well-positioned to continue its growth trajectory and deliver on its plans for the remainder of the year. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Brp Group. More…
| Total Revenues | Net Income | Net Margin |
| 1.13k | -111.31 | -4.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Brp Group. More…
| Operations | Investing | Financing |
| 37.61 | -35.06 | -73.59 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Brp Group. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.47k | 2.37k | 9.39 |
Key Ratios Snapshot
Some of the financial key ratios for Brp Group are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 84.5% | -40.6% | -9.1% |
| FCF Margin | ROE | ROA |
| 1.4% | -10.7% | -1.9% |
Analysis – Brp Group Stock Fair Value
At GoodWhale, we have conducted an analysis of BRP GROUP‘s fundamentals. Our proprietary Valuation Line reveals that the fair value of BRP GROUP share is around $46.8. However, currently, the stock is traded at $24.5, thus being undervalued by 47.6%. This presents a great opportunity for potential investors given the margin of safety it provides. With our deep dive analysis and expertise in the field, we believe that this provides a strong indication of the potential of BRP GROUP’s stock. More…
Peers
The Company, through its subsidiaries, is engaged in the business of insurance brokerage and consulting. It offers a range of insurance products and services, including property and casualty, life and health, and employee benefits, to its clients in the United States, Bermuda, and the United Kingdom. The Company’s competitors include Tian Ruixiang Holdings Ltd, China United Insurance Service Inc, and Transilvania Broker De Asigurare.
– Tian Ruixiang Holdings Ltd ($NASDAQ:TIRX)
Tian Ruixiang Holdings Ltd is a Chinese holding company. It has a market cap of 8.29M as of 2022 and a return on equity of -8.76%. The company operates in the financial services industry in China. It offers a range of services, including banking, insurance, asset management, and other financial services. The company was founded in 2004 and is headquartered in Beijing, China.
– China United Insurance Service Inc ($OTCPK:CUII)
The company’s market cap is $54.82 million and its ROE is 29.69%. The company provides insurance services in China.
Summary
Investing in BRP Group has been a volatile affair since the company announced its second quarter earnings for FY2023. Total revenue saw an increase of 27.8% year-over-year to reach 297.2 million USD, however the net income was a negative 23.9 million USD, significantly down from the 8.6 million USD earned in the same period of the prior year. Investors should take note of this decline and further analyze the company’s financials, such as cash flow and operational performance, to determine the best course of action.
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