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Metrics | Range | Conclusion |
---|---|---|
Selected LTM Ps Multiple | 2.0x - 2.2x | 2.1x |
Selected Fwd Ps Multiple | 1.4x - 1.6x | 1.5x |
Fair Value | ¥2,442 - ¥2,699 | ¥2,571 |
Upside | 40.0% - 54.7% | 47.3% |
Benchmarks | Ticker | Full Ticker |
---|---|---|
BRIDGE International Corp. | 703,900.0% | TSE:7039 |
Tanabe Consulting Group Co.,Ltd. | 964,400.0% | TSE:9644 |
Link and Motivation Inc. | 217,000.0% | TSE:2170 |
SMS Co., Ltd. | 217,500.0% | TSE:2175 |
IR Japan Holdings, Ltd. | 603,500.0% | TSE:6035 |
Management Solutions co.,Ltd. | 703,300.0% | TSE:7033 |
Select Price / LTM Sales Ratio | ||||||||
Benchmark Companies | ||||||||
7039 | 9644 | 2170 | 2175 | 6035 | 7033 | |||
TSE:7039 | TSE:9644 | TSE:2170 | TSE:2175 | TSE:6035 | TSE:7033 | |||
Historical Sales Growth | ||||||||
5Y CAGR | NM- | NM- | -0.4% | 11.8% | 3.2% | 38.6% | ||
3Y CAGR | 15.5% | 11.4% | 4.7% | 14.5% | -11.9% | 39.4% | ||
Latest Twelve Months | 22.7% | 13.2% | 10.3% | 15.3% | -5.8% | 17.8% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | 8.6% | 6.3% | 4.6% | 13.6% | 22.6% | 6.0% | ||
Prior Fiscal Year | 9.2% | 6.2% | 8.4% | 14.0% | 11.2% | 9.6% | ||
Latest Fiscal Year | 7.7% | 5.0% | 9.9% | 13.4% | 13.5% | 8.9% | ||
Latest Twelve Months | 7.7% | 6.5% | 9.9% | 11.3% | 10.0% | 8.9% | ||
Current Trading Multiples | ||||||||
EV / LTM EBITDA | 3.3x | 7.4x | 8.1x | 7.6x | 7.3x | 9.6x | ||
Price / LTM Sales | 0.8x | 1.5x | 1.5x | 1.6x | 2.3x | 1.5x | ||
LTM P/E Ratio | 10.1x | 22.2x | 15.1x | 14.3x | 22.7x | 16.3x | ||
Low | Mid | High | ||||||
Benchmark LTM P/S Ratio | 0.8x | 1.5x | 2.3x | |||||
Historical LTM P/S Ratio | 1.5x | 5.2x | 8.9x | |||||
Selected Price / Sales Multiple | 2.0x | 2.1x | 2.2x | |||||
(x) LTM Sales | 19,948 | 19,948 | 19,948 | |||||
(=) Equity Value | 39,943 | 42,045 | 44,147 | |||||
(/) Shares Outstanding | 16.3 | 16.3 | 16.3 | |||||
Implied Value Range | 2,451.02 | 2,580.02 | 2,709.02 | |||||
FX Rate: JPY/JPY | 1.0 | 1.0 | 1.0 | Market Price | ||||
Implied Value Range (Trading Cur) | 2,451.02 | 2,580.02 | 2,709.02 | 1,745.00 | ||||
Upside / (Downside) | 40.5% | 47.9% | 55.2% |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | 7039 | 9644 | 2170 | 2175 | 6035 | 7033 | |
Value of Common Equity | 6,665 | 20,415 | 54,517 | 95,880 | 12,541 | 28,437 | |
(/) Shares Outstanding | 3.6 | 32.8 | 106.5 | 85.0 | 17.8 | 16.3 | |
Implied Stock Price | 1,854.00 | 622.00 | 512.00 | 1,128.50 | 706.00 | 1,745.00 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 1,854.00 | 622.00 | 512.00 | 1,128.50 | 706.00 | 1,745.00 | |
Trading Currency | JPY | JPY | JPY | JPY | JPY | JPY | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |