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Metrics | Range | Conclusion |
---|---|---|
Adjusted Earnings | 15.512 B - 33.921 B | 23.241 B |
Discount Rate | 10.0% - 8.0% | 9.0% |
Fair Value | ¥1,133 - ¥2,929 | ¥1,822 |
Upside | -10.4% - 131.5% | 44.0% |
Estimate Adjusted EBIT Margin | |||||||
Fiscal Year Ending | LTM | ||||||
Mar-20 | Mar-21 | Mar-22 | Mar-23 | Mar-24 | Dec-24 | ||
(JPY in millions) | FY-4 | FY-3 | FY-2 | FY-1 | FY | LTM | |
Revenue | 291,304 | 273,609 | 282,088 | 336,910 | 359,459 | 362,675 | |
Adjusted EBITDA Build-up | |||||||
EBT, Incl. Unusual Items | 2,876 | 4,532 | 8,515 | 21,160 | 18,244 | 21,590 | |
(+) Net Interest Expense | 723 | 337 | 597 | 626 | 376 | 132 | |
(+) Other Non Operating Exp. | 605 | 202 | 183 | 335 | (678) | (1,987) | |
(+) D&A | 20,199 | 19,316 | 17,120 | 17,615 | 18,182 | 17,668 | |
(+) Non-recurring Items | 1,530 | 3,662 | (1,915) | (6,127) | 1,848 | 1,848 | |
Adjusted EBITDA | 25,933 | 28,049 | 24,500 | 33,609 | 37,972 | 39,251 | |
(-) D&A | (20,199) | (19,316) | (17,120) | (17,615) | (18,182) | (17,668) | |
Adjusted EBIT | 5,734 | 8,733 | 7,380 | 15,994 | 19,790 | 21,583 | |
% of Revenue | 2.0% | 3.2% | 2.6% | 4.7% | 5.5% | 6.0% | |
Low | Median | High | |||||
Adjusted EBIT Margin | 2.0% | 3.2% | 5.5% |
Equity Waterfall | |||||||
Model | |||||||
(JPY in millions) | Low | Mid | High | Market | |||
Enterprise Value | 155,122 | 258,236 | 424,008 | 174,906 | |||
(+) Cash & Short Term Investments | 54,798 | 54,798 | 54,798 | 54,798 | |||
(+) Investments & Other | 16,917 | 16,917 | 16,917 | 16,917 | |||
(-) Debt | (50,471) | (50,471) | (50,471) | (50,471) | |||
(-) Other Liabilities | (6,700) | (6,700) | (6,700) | (6,700) | |||
(-) Preferred Stock | 0 | 0 | 0 | 0 | |||
(-) Other | 0 | 0 | 0 | 0 | |||
Value of Common Equity | 169,666 | 272,780 | 438,552 | 189,450 | |||
(/) Shares Outstanding | 149.7 | 149.7 | 149.7 | 149.7 | |||
Implied Stock Price (JPY) | 1,133.35 | 1,822.14 | 2,929.47 | 1,265.50 | |||
FX Rate: JPY/JPY | 1.00 | 1.00 | 1.00 | 1.00 | |||
Implied Stock Price (JPY) | 1,133.35 | 1,822.14 | 2,929.47 | 1,265.50 | |||
Upside / (Downside) | -10.44% | 43.99% | 131.49% | ||||
Stock Price | 1,265.50 | ||||||
Stock Price Close | 1,265.50 | ||||||
Restatment Type | Press Release | ||||||
Reporting Currency | JPY | ||||||
Trading Currency | JPY | ||||||
FX Rate: JPY/JPY | 1.00 | ||||||
Market Cap | 189,449.8 | ||||||
Shares Outstanding | 149.7 | ||||||
Share Exchange Ratio | 1.0 | ||||||
Liquid Long-term Investments | 0 |