Lyft Intrinsic Value – LYFT Reports Earnings for Second Quarter of FY2023
August 16, 2023
🌥️Earnings Overview
LYFT ($NASDAQ:LYFT) reported their second quarter FY2023 earnings results on June 30 2023, with total revenue of USD 1020.9 million, a 33.4% year-over-year increase. Net income for the quarter was USD -114.3 million, substantially improved compared to the prior year’s -251.9 million.
Price History
The stock opened at $10.7 and closed at $11.6, representing a 5.4% increase from its prior closing price of $11.0. This is the highest quarterly revenue growth that LYFT has reported since going public. The news of the strong quarter further boosted LYFT’s stock price, which closed at $11.6 on Tuesday.
This is an encouraging sign for the company and investors alike. With a strong quarter under its belt, LYFT is proving to be an innovative and successful technology company in the ridesharing market. lyft&utm_title=LYFT_Reports_Earnings_for_Second_Quarter_of_FY2023″>Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Lyft. More…
| Total Revenues | Net Income | Net Margin |
| 4.25k | -1.31k | -28.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Lyft. More…
| Operations | Investing | Financing |
| -277.81 | 1.45k | -164.99 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Lyft. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 4.45k | 4.06k | 1.02 |
Key Ratios Snapshot
Some of the financial key ratios for Lyft are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.2% | – | -30.2% |
| FCF Margin | ROE | ROA |
| -11.2% | -208.4% | -18.0% |
Analysis – Lyft Intrinsic Value
At GoodWhale, we have been closely analyzing the financials of LYFT, and our proprietary Valuation Line has calculated its intrinsic value to be around $41.2. This means that the stock of LYFT is currently undervalued by a whopping 71.9%, as it is trading at $11.6. This presents investors with a great opportunity to acquire LYFT stock at a discounted price and reap the rewards as the stock price increases in the future. lyft&utm_title=LYFT_Reports_Earnings_for_Second_Quarter_of_FY2023″>More…
Peers
The competition among Lyft Inc, Forge Global Holdings Inc, SK Hynix Inc, and CE Info Systems Ltd is fierce. All four companies are vying for a share of the market, and each has its own strengths and weaknesses. Lyft Inc is a relative newcomer to the market, but it has quickly established itself as a major player. Forge Global Holdings Inc is a large company with a long history in the industry. SK Hynix Inc is a smaller company, but it has a strong reputation for quality. CE Info Systems Ltd is a small company, but it has a very innovative product.
– Forge Global Holdings Inc ($NYSE:FRGE)
Founded in 2001, Forge Global Holdings Inc is a provider of investment banking and capital markets services. The company has a market cap of 301.72M as of 2022 and a Return on Equity of -4.23%. The company offers a range of services, including mergers and acquisitions, public and private placement of debt and equity securities, and advising on restructurings and other corporate finance matters.
– SK Hynix Inc ($KOSE:000660)
SK Hynix is a South Korean semiconductor company that produces dynamic random-access memory (DRAM) chips and flash memory chips. SK Hynix is the world’s second-largest memory chipmaker after Samsung Electronics. The company has a market capitalization of US$65.46 billion as of March 2021.
SK Hynix was founded in 1983 as a joint venture between Hyundai Electronics and Samsung Electronics. The company’s main manufacturing facility is located in Icheon, South Korea. SK Hynix also has fabrication plants in China, the United States, and Taiwan.
The company’s products are used in a variety of electronic devices, including personal computers, servers, mobile devices, and digital cameras. SK Hynix is a major supplier of DRAM chips to companies such as Apple, Samsung, and Dell.
SK Hynix reported a 15.68% return on equity for the year ended December 31, 2020.
– CE Info Systems Ltd ($BSE:543425)
HCL Technologies Ltd, a leading global technology company, has a market cap of $70.19 billion as of March 2022. The company’s return on equity (ROE) is 18.0%. HCL Technologies is a provider of IT services, including digital, technology, consulting, and operations services. The company has a strong presence in India, the United States, Europe, and Asia Pacific.
Summary
LYFT‘s second quarter earnings results for FY2023 demonstrated a strong performance, with USD 1020.9 million in total revenue, representing a 33.4% year-over-year increase. Net income for the quarter was USD -114.3 million, which is a drastic improvement over the -251.9 million reported in the same period last year. The news drove the stock price up, indicating that investors have confidence in the company’s progress.
Given its impressive growth and strong financials, LYFT is a potentially attractive investment opportunity. Investors should consider researching the company more thoroughly before making any decisions.
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