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Metrics | Range | Conclusion |
---|---|---|
Selected LTM Ps Multiple | 6.2x - 6.9x | 6.6x |
Selected Fwd Ps Multiple | 4.3x - 4.8x | 4.6x |
Fair Value | €42.59 - €47.07 | €44.83 |
Upside | -33.1% - -26.0% | -29.5% |
Benchmarks | Ticker | Full Ticker |
---|---|---|
GREE Holdings, Inc. | 363,200.0% | TSE:3632 |
Koei Tecmo Holdings Co., Ltd. | 363,500.0% | TSE:3635 |
Konami Group Corporation | 976,600.0% | TSE:9766 |
COLOPL, Inc. | 366,800.0% | TSE:3668 |
DeNA Co., Ltd. | 243,200.0% | TSE:2432 |
Nintendo Co., Ltd. | - | DB:NTO |
Select Price / LTM Sales Ratio | ||||||||
Benchmark Companies | ||||||||
3632 | 3635 | 9766 | 3668 | 2432 | NTO | |||
TSE:3632 | TSE:3635 | TSE:9766 | TSE:3668 | TSE:2432 | DB:NTO | |||
Historical Sales Growth | ||||||||
5Y CAGR | -2.9% | 16.8% | 6.5% | -7.8% | 2.0% | 6.8% | ||
3Y CAGR | 2.6% | 11.9% | 9.7% | -11.2% | -0.1% | -1.7% | ||
Latest Twelve Months | -17.3% | -15.6% | 22.8% | -12.9% | 8.5% | -27.5% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | 11.8% | 43.6% | 13.8% | 7.1% | -0.3% | 26.9% | ||
Prior Fiscal Year | 12.3% | 39.4% | 11.1% | 5.7% | 6.6% | 27.0% | ||
Latest Fiscal Year | 7.6% | 40.0% | 16.4% | -7.2% | -21.0% | 29.3% | ||
Latest Twelve Months | 8.1% | 45.6% | 18.6% | -5.3% | 12.3% | 25.9% | ||
Current Trading Multiples | ||||||||
EV / LTM EBITDA | 5.4x | 22.8x | 17.7x | -0.2x | 6.5x | 28.2x | ||
Price / LTM Sales | 1.5x | 9.9x | 6.5x | 2.3x | 2.7x | 9.8x | ||
LTM P/E Ratio | 18.7x | 21.7x | 34.7x | -43.2x | 21.6x | 37.8x | ||
Low | Mid | High | ||||||
Benchmark LTM P/S Ratio | 1.5x | 2.7x | 9.9x | |||||
Historical LTM P/S Ratio | 3.6x | 4.3x | 5.6x | |||||
Selected Price / Sales Multiple | 6.2x | 6.6x | 6.9x | |||||
(x) LTM Sales | 1,233,287 | 1,233,287 | 1,233,287 | |||||
(=) Equity Value | 7,675,749 | 8,079,736 | 8,483,723 | |||||
(/) Shares Outstanding | 1,164.2 | 1,164.2 | 1,164.2 | |||||
Implied Value Range | 6,592.88 | 6,939.87 | 7,286.87 | |||||
FX Rate: JPY/EUR | 162.0 | 162.0 | 162.0 | Market Price | ||||
Implied Value Range (Trading Cur) | 40.70 | 42.84 | 44.98 | 63.62 | ||||
Upside / (Downside) | -36.0% | -32.7% | -29.3% |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | 3632 | 3635 | 9766 | 3668 | 2432 | NTO | |
Value of Common Equity | 90,940 | 753,272 | 2,702,333 | 59,088 | 395,914 | 11,999,576 | |
(/) Shares Outstanding | 171.3 | 315.8 | 135.6 | 128.5 | 111.4 | 1,164.2 | |
Implied Stock Price | 531.00 | 2,385.00 | 19,935.00 | 460.00 | 3,555.00 | 10,306.72 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 162.00 | |
Implied Stock Price (Trading Cur) | 531.00 | 2,385.00 | 19,935.00 | 460.00 | 3,555.00 | 63.62 | |
Trading Currency | JPY | JPY | JPY | JPY | JPY | EUR | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 162.00 |