Financials Future Corporation

Equities

4722

JP3826200002

IT Services & Consulting

Market Closed - Japan Exchange 11:30:00 02/05/2024 am IST 5-day change 1st Jan Change
1,583 JPY +1.21% Intraday chart for Future Corporation +2.66% -10.31%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 81,162 78,042 1,55,110 1,45,855 1,56,350 1,40,228 - -
Enterprise Value (EV) 1 66,255 61,935 1,32,680 1,18,203 1,28,135 1,40,228 1,40,228 1,40,228
P/E ratio 17.8 x 20.6 x 24.4 x 15.8 x 17 x 13.2 x 11.8 x 10.6 x
Yield 2.15% 2.27% 1.45% 2.25% 2.27% 2.65% 3.06% 3.41%
Capitalization / Revenue 1.79 x 1.76 x 3.19 x 2.71 x 2.64 x 2.12 x 1.92 x 1.75 x
EV / Revenue 1.79 x 1.76 x 3.19 x 2.71 x 2.64 x 2.12 x 1.92 x 1.75 x
EV / EBITDA 1,08,00,291 x 1,22,37,654 x 1,52,87,350 x 1,08,24,909 x - - - -
EV / FCF 21.5 x 20.6 x - 15.9 x 26.7 x 14.6 x 13.7 x 12.4 x
FCF Yield 4.64% 4.86% - 6.28% 3.75% 6.86% 7.31% 8.08%
Price to Book 2.68 x 2.04 x 3.71 x 3.25 x 3.04 x 2.4 x 2.14 x 1.91 x
Nbr of stocks (in thousands) 89,435 88,483 88,483 88,558 88,584 88,584 - -
Reference price 2 907.5 882.0 1,753 1,647 1,765 1,583 1,583 1,583
Announcement Date 05/02/20 04/02/21 08/02/22 07/02/23 06/02/24 - - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 45,389 44,311 48,698 53,738 59,324 66,260 73,070 80,150
EBITDA 7,515 6,377 10,146 13,474 - - - -
EBIT 1 6,523 5,235 9,000 12,229 13,700 15,050 16,865 18,925
Operating Margin 14.37% 11.81% 18.48% 22.76% 23.09% 22.71% 23.08% 23.61%
Earnings before Tax (EBT) 6,477 5,530 9,185 13,266 13,194 - - -
Net income 1 4,557 3,795 6,369 9,236 9,221 10,620 11,860 13,285
Net margin 10.04% 8.56% 13.08% 17.19% 15.54% 16.03% 16.23% 16.58%
EPS 2 50.97 42.74 71.97 104.3 104.1 119.9 133.8 150.0
Free Cash Flow 1 3,767 3,794 - 9,165 5,857 9,617 10,255 11,324
FCF margin 8.3% 8.56% - 17.05% 9.87% 14.51% 14.03% 14.13%
FCF Conversion (EBITDA) 50.13% 59.49% - 68.02% - - - -
FCF Conversion (Net income) 82.66% 99.97% - 99.23% 63.52% 90.56% 86.47% 85.24%
Dividend per Share 2 19.50 20.00 25.50 37.00 40.00 42.00 48.50 54.00
Announcement Date 05/02/20 04/02/21 08/02/22 07/02/23 06/02/24 - - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 Q3 2022 Q1 2022 S1 2022 Q3 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 23,174 22,135 22,176 23,117 12,672 12,605 25,940 13,674 13,965 14,379 28,344 15,878 15,102 15,022 16,470 17,100 17,080
EBITDA - - - - - - - - - - - - - - - - -
EBIT 1 3,187 3,239 1,996 3,746 2,798 3,341 6,214 3,147 3,172 3,152 6,324 4,059 3,317 3,417 3,640 4,050 3,950
Operating Margin 13.75% 14.63% 9% 16.2% 22.08% 26.51% 23.96% 23.01% 22.71% 21.92% 22.31% 25.56% 21.96% 22.75% 22.1% 23.68% 23.13%
Earnings before Tax (EBT) - 3,418 - 3,879 2,805 3,409 6,469 3,850 3,175 - 6,526 4,091 - 3,240 - - -
Net income 1 - 2,366 - 2,696 1,955 2,386 4,517 2,678 2,191 - 4,319 2,800 - 2,189 2,590 2,800 -
Net margin - 10.69% - 11.66% 15.43% 18.93% 17.41% 19.58% 15.69% - 15.24% 17.63% - 14.57% 15.73% 16.37% -
EPS - 26.57 - 30.47 22.08 26.96 51.03 30.23 24.74 - 48.77 31.61 - 24.72 - - -
Dividend per Share - 10.00 - 11.50 - - 17.00 - - - 20.00 - - - - - -
Announcement Date 05/02/20 31/07/20 04/02/21 30/07/21 27/10/21 27/04/22 28/07/22 26/10/22 26/04/23 27/07/23 27/07/23 25/10/23 06/02/24 24/04/24 - - -
1JPY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position 14,907 16,107 22,430 27,652 28,215 - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 3,767 3,794 - 9,165 5,857 9,617 10,255 11,324
ROE (net income / shareholders' equity) 15.6% 11.1% 15.9% 21.3% 19.2% 19.5% 18.6% 18.2%
ROA (Net income/ Total Assets) 11.9% 8.54% - 22.4% 22.7% - - -
Assets 1 38,140 44,431 - 41,259 40,551 - - -
Book Value Per Share 2 339.0 431.0 472.0 506.0 580.0 659.0 741.0 831.0
Cash Flow per Share 62.00 55.20 83.50 118.0 117.0 - - -
Capex 1 1,235 658 1,140 278 1,711 1,570 1,620 1,670
Capex / Sales 2.72% 1.48% 2.34% 0.52% 2.88% 2.37% 2.22% 2.08%
Announcement Date 05/02/20 04/02/21 08/02/22 07/02/23 06/02/24 - - -
1JPY in Million2JPY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
2
Last Close Price
1,583 JPY
Average target price
2,375 JPY
Spread / Average Target
+50.03%
Consensus
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