Exp World Intrinsic Value – EXP WORLD Reports Record-Breaking Financial Results for Second Quarter of FY2023
August 16, 2023
🌥️Earnings Overview
On August 3 2023, EXP WORLD ($NASDAQ:EXPI) revealed their financial results for the second quarter of FY2023, which finished on June 30 2023. A total of USD 1232.9 million in revenue was recorded in the period – a decrease of 12.9% when compared to the corresponding quarter of the previous year. Net income for Q2 was USD 9.4 million, showing a 0.6% year-on-year growth.
Share Price
The company’s stock opened the day at $23.6 and closed at $25.1, up by 3.4% from its last closing price of $24.2. This performance marks the highest closing price in the company’s history. Overall, EXP WORLD’s financial results for the quarter exceeded expectations and demonstrate the company’s ability to adjust to changing market conditions and capitalize on opportunities. The stock’s record-breaking performance is a clear indication of investor confidence in the company’s future prospects. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Exp World. More…
| Total Revenues | Net Income | Net Margin |
| 4.26k | 8.08 | 0.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Exp World. More…
| Operations | Investing | Financing |
| 199.41 | -24.35 | -204.24 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Exp World. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 482.78 | 224.46 | 1.67 |
Key Ratios Snapshot
Some of the financial key ratios for Exp World are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 53.3% | – | -0.0% |
| FCF Margin | ROE | ROA |
| 4.5% | -0.3% | -0.2% |
Analysis – Exp World Intrinsic Value
GoodWhale has been analyzing the fundamentals of EXP WORLD and we have arrived at a conclusion. Our proprietary Valuation Line calculation shows that the intrinsic value of EXP WORLD stock is around $33.9. This means that the current market price of $25.1 is undervalued by 25.9%. Therefore, investing in EXP WORLD at this moment could be a good decision for investors. More…
Peers
The company operates through its wholly owned subsidiary, eXp Realty, LLC. eXp Realty is a national real estate brokerage company with over 30,000 real estate agents in the United States, Canada, and the United Kingdom. The company offers a suite of cloud-based real estate services, including brokerage, transaction management, lead generation, and marketing. eXp World Holdings Inc. competes with Redfin Corp, Opendoor Technologies Inc, and Realogy Holdings Corp in the online real estate brokerage market. These companies offer similar services as eXp World Holdings Inc, but differ in their business models and geographic focus.
– Redfin Corp ($NASDAQ:RDFN)
Redfin is a technology-powered real estate brokerage, founded in 2004 and headquartered in Seattle, WA. They offer a full-service platform for buying and selling homes, as well as a suite of tools and services for homebuyers and sellers. Redfin has a market cap of $516.24M as of 2022 and a return on equity of -50.48%. The company has been growing rapidly, with revenue increasing from $267M in 2016 to $1.1B in 2020. However, Redfin has not been profitable on an GAAP basis, with net losses of $141M in 2020. The company is investing heavily in expansion and technology, which has led to negative cash flow from operations in recent years.
– Opendoor Technologies Inc ($NASDAQ:OPEN)
Opendoor Technologies Inc is a real estate company that allows users to buy and sell homes through its online platform. The company has a market cap of 1.53B as of 2022 and a return on equity of 0.03%. Opendoor was founded in 2014 and is headquartered in San Francisco, CA.
Summary
EXP WORLD‘s financial results for the second quarter of FY2023 (ending June 30 2023) showed total revenue of USD 1232.9 million, a 12.9% decrease compared to the same period last year. Net income was USD 9.4 million, representing a 0.6% increase year over year. The stock price rose on the news, indicating that investors were pleased with the results.
Overall, EXP WORLD appears to have performed well despite the challenging economic environment, and the outlook for the company appears positive. Investors should watch for further updates from the company and consider investing in EXP WORLD’s stock if they believe in its long-term prospects.
