1 Cathie Wood Stock Down 36% You'll Regret Not Buying on the Dip | ARK Invest | ARK Innovation

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인튜이트(Intuit)는 ARK 캐시 우드 포트폴리오에서 비중이 낮지만 그녀가 선호하는 종목이며, 발표자도 동의하며 하락 시 매수 기회라고 봄. 매출 성장: 최근 5년·10년간 매출이 30억 달러 이상에서 136.8억 달러로 확대. 세무 소프트웨어 외에 가계부·재무 앱으로 사업 영역을 확장. 사업 구조: 세금 신고는 쉬워지지 않을 것이라 장기 수요가 견조하며, 중소기업·자영업자 등 복잡한 세무 수요에 강점. 수익성: 최근 12개월 영업이익 26.6억 달러(매출 대비 높은 이익률), 영업현금흐름 42.71억 달러로 5년간 꾸준히 증가. 영업현금흐름이 영업이익보다 큰 이유는 주식보상·감가상각 등 비현금 비용 때문이라고 설명. 밸류에이션: 선행 PER 32.19배로 과거 고점(약 60배) 대비 낮고, 최근 1년 반 사이 거의 가장 저렴한 수준이라고 평가. 결론: 주가가 36% 하락한 시점이 매력적인 진입 기회이며, 현금흐름·매출·영업이익 성장과 사업의 끈끈함(stickiness)을 근거로 매수 관점 유지. 리스크로 명시된 내용은 특별히 없음.

다듬은 글

※ 자동 자막 원문(다듬기 전)

01. Intuit is one Kathy Woodstock down 36 percent that I think you might regret not buying on this dip here of course Intuit is one of Kathy Wood's Holdings in her Arc portfolios it ranks number 54 on her list of over 120 stocks in US relatively small 0.24 percent uh uh percentage in the overall weight of her portfolio nevertheless she does like this stock otherwise it would not be in the portfolio and I agree with her on this pick I like this stock too and in this video I'm going to talk about why so starting with very nice Revenue growth uh looking at the company over the last five years over the last 10 years you could see Revenue has expanded from more than three billion dollars all the way up to 13.68 billion dollars of course the tax preparation software has invested in other areas as well including the app uh Financial budgeting apps and others and it's really in a good position here it for the long run I don't think tax preparation is going to get any easier in the near or long term and so it's in a good position here to capitalize on that market you know it helps mostly small businesses entrepreneurs self-employed individuals who have a bit more complicated tax preparation schemes than do your everyday workers with the W-2 that have a more easier less complicated tax filing process so it's done really well and I I think it's got good prospects in the future especially if you look at the operating profit operating income trailing 12 months 2.66 billion in operating in income on revenue of 13.68 billion so a nice profit margin billions in operating income so you know the business is not just generating rail sales is generating good Pro uh good income and excellent cash flow from operations look at this over the trailing 12-month cash flow from operations 4.271 billion dollars and that's been moving nicely higher over the last five years if you're wondering why cash flow from operations is higher than operating income it's it's because many companies have a lot of non-cash expenses things like stock based compensation depreciation and amortization and those things are non-cash expenses but the company has to account for it on the income statement so it it brings down operating profits but since it's non-cash it doesn't bring down cash flow from operations so this happens because uh the way our accounting system works if a company like Intuit let's say pays a hundred million dollars for an office building it can't just put down a hundred million dollars of expense in the year that it bought the office building there is uh rules with how it depreciates that office building I think for real estate office buildings the depreciation period is 30 years if I'm not mistaken or 39 years um correct me if I'm wrong if there's an accountant in watching this video correct me about the real estate depreciation time period but what what Intuit has to do then is take that 100 million dollars and and depreciate it over 30 years so it takes a 1 30th expense this year 130th next year and the year after all the way 30 years depreciating that expense so even though it paid 100 million up front it's not a hundred million cash expense and so because of that mismatch between cash outflow and the way it's accounted for on the income statement you get this mismatch between cash flow from operations and the operating income nevertheless it is a good sign to see cash flow from operations rising in this manner and the last reason why I'll give why I think you might regret not buying this Kathy Woodstock on the dip is because of the reasonable valuation it's trading at a forward price to earnings of 32.19 that's down from a peak of about 60 it was trading for early in or late in 2021 so you're getting this stock at near the cheapest it has traded for in the last year and a half and you're getting a company that's boosting its cash flow from operations robustly boosting its Revenue increasing its operating income and it's in a business that has some uh stickiness to it right the taxes aren't going anywhere taxes are not likely to get easier to do and you know into it isn't it is in a relatively good position in that regard where it generates uh its revenue and profits really appreciate your viewership I hope you'll come back again soon