Zepp Health Corporation
Subdued Q1 Outlook / Trading Below Liquid Assets
Published: 3/20/2024
Author: Sid Rajeev, B.Tech, CFA, MBA
Sector: Technology | Industry: Consumer Electronics
Ticker Symbols:ZEPP - NYSE 🔹
Rating and Key Data
| Metrics | Value |
|---|---|
| Current Price | US $1 |
| Fair Value | US $4.46 |
| Risk | 3 |
| 52 Week Range | US $0.91-2.10 |
| Shares O/S (M) | 61 |
| Market Cap. (M) | US $61 |
| Current Yield (%) | n/a |
| P/E (forward) | n/a |
| P/B | 0.2 |
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Report Highlights
Highlights
In Q4-2023, Zepp ranked sixth in the global smartwatch market based on unit sales, trailing behind Apple (NASDAQ: AAPL), Garmin (NYSE: GRMN), Samsung (KOSE: A005930), Huawei, and Fitbit (Google/NASDAQ: GOOGL)
In 2023, revenue was down 40% YoY, narrowly missing our estimate by 0.5%. Although EPS improved YoY, it fell short of our estimate by 19%.
Revenue declined due to the company halting production of several low-margin products. This strategic move paid off as gross profit for self-branded units increased by 18% YoY, despite a 24% YoY de
