RMR GROUP Reports Third Quarter Fiscal Year 2023 Earnings Results on August 9, 2023
August 22, 2023
🌥️Earnings Overview
On August 9, 2023, RMR GROUP ($NASDAQ:RMR) released its financial results for the third quarter of the fiscal year 2023, ending June 30, 2023. Total revenue for this period was reported as USD 280.2 million, a 32.8% year-over-year increase from the previous year. Net income was USD 24.6 million, a tremendous leap from the 7.6 million reported in the same period last year.
Market Price
The stock opened at $23.1 and closed at $22.8, down 1.0% from its previous closing price at 23.0. This new share repurchase plan is in addition to the existing $1 billion share repurchase program which is expected to be completed by the end of the fiscal year 2023. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Rmr Group. More…
| Total Revenues | Net Income | Net Margin |
| 981.58 | 60.76 | 6.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Rmr Group. More…
| Operations | Investing | Financing |
| 125.11 | 50.05 | -75.67 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Rmr Group. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 601.38 | 176.02 | 14.35 |
Key Ratios Snapshot
Some of the financial key ratios for Rmr Group are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 17.9% | 16.6% | 12.7% |
| FCF Margin | ROE | ROA |
| 12.4% | 33.9% | 12.9% |
Analysis
GoodWhale has conducted an analysis of the financials of RMR GROUP and found that it has a high health score of 10/10 considering its cashflows and debt, making it capable to safely ride out any crisis without the risk of bankruptcy. We classify RMR GROUP as a ‘gorilla’ type of company, which we conclude has achieved stable and high revenue or earning growth due to its strong competitive advantage. Given its strong asset, dividend, growth and medium level of profitability, RMR GROUP may be of interest to a wide variety of investors. Investors looking for high-growth potential, such as venture capitalists, may be particularly interested in RMR GROUP’s potential for strong return on investment. Additionally, dividend investors may be drawn to RMR GROUP’s ability to generate consistent and stable cashflows. Finally, those looking for long-term investments may find RMR GROUP’s strong competitive advantage and financial health attractive. More…
Peers
The company’s primary business is the management of real estate investment trusts (REITs) and real estate operating companies. RMR also provides real estate management services to corporate clients, government entities and non-profit organizations. As of December 31, 2016, RMR’s portfolio includes 1,371 properties, with a total market value of approximately $30.3 billion. The company’s competitors include Star Mica Holdings Co. Ltd., Toubujyuhan Co. Ltd., Viet Tien Son Real Estate Holding Co., and others.
– Star Mica Holdings Co Ltd ($TSE:2975)
Star Mica Holdings Co Ltd is a publicly traded company with a market capitalization of $23.66 billion as of 2022. The company has a return on equity of 17.39%. Star Mica Holdings Co Ltd is engaged in the business of mining, processing and selling mica and mica products. The company’s products are used in a variety of industries, including cosmetics, paint, plastics and rubber.
– Toubujyuhan Co Ltd ($TSE:3297)
Toubujyuhan Co Ltd is a Japanese company that manufactures and sells automotive parts and accessories. The company has a market cap of 2.63 billion as of 2022 and a return on equity of 9.25%. Toubujyuhan Co Ltd is a publicly traded company on the Tokyo Stock Exchange.
Summary
RMR GROUP has seen strong financial growth in the third quarter of its fiscal year 2023, with total revenue increasing by 32.8% year-over-year and net income improving to USD 24.6 million from the 7.6 million reported in the previous year. Investors should pay attention to RMR GROUP’s strong performance, as this signals robust business activity and profitability, as well as potential for further growth. However, investors should also take a close look at the company’s operations and financials to ensure that these results are sustainable and that the company will be able to continue producing such impressive results.
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