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ATRenew Reported Sound Q3 Earnings, But Stock Remains Undervalued (NYSE:RERE)

ATRenew Inc. (NYSE:RERE) has just reported very sound quarterly results. The company’s stock has not been doing very well, however. In my view, this is mostly due to the stock market not experiencing its best

RERE quarterly earnings (in million RMB)
Time period Q1 21 Q2 21 Q3 21 Q4 21 1Q 22 2Q 22 3Q 22 4Q 22 1Q 23 2Q 23 3Q 23
Revenue 1514 1868 1962 2436 2207 2146 2536 2981 2872 2964 3257
GAAP net profit -95 -506 -122 -104 -161 -125 -30 -2151 -50 -65 -44
Non-GAAP net profit -36 -60 -23 -50 -36 -13 77 22 50 36 48

Indicator

Sector relative grade

RERE

P/E Non-GAAP (TTM)

B

11.27

EV/Sales (TTM)

A+

0.09

Price/Sales (TTM)

A-

0.28

Price/Book (TTM)

A-

0.83

Price/Cash Flow (TTM)

A

3.08

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