Financials H.I.S. Co., Ltd.

Equities

9603

JP3160740001

Leisure & Recreation

Delayed Japan Exchange Other stock markets 07:28:14 02/05/2024 am IST			5-day change	1st Jan Change
1,724 ^JPY	-0.46%		-2.87%	-5.33%

08/03	REGENT Craft Inc. announced that it has received funding from H.I.S. Co., Ltd.	CI
29/01	Original Life, Inc. announced that it has received ¥480 million in funding from Nissay Capital Co., Ltd., Nippon Venture Capital Co., Ltd., H.I.S. Co., Ltd., Hakuhodo DY Ventures Inc.	CI

Valuation

Fiscal Period: October	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	1,61,563	80,906	1,79,242	1,52,267	1,25,588	1,29,401	-	-
Enterprise Value (EV) ¹	1,91,892	2,34,229	3,30,135	2,59,191	1,94,149	1,96,161	1,75,980	1,67,404
P/E ratio	13.2 x	-3.24 x	-3.41 x	-15.8 x	-48 x	18.4 x	16.1 x	13.4 x
Yield	1.17%	-	-	-	-	0.62%	0.79%	0.91%
Capitalization / Revenue	0.2 x	0.19 x	1.51 x	1.07 x	0.5 x	0.33 x	0.34 x	0.32 x
EV / Revenue	0.24 x	0.54 x	2.78 x	1.82 x	0.77 x	0.5 x	0.46 x	0.41 x
EV / EBITDA	7.27 x	-12.8 x	-6.52 x	-7.46 x	15.6 x	8.65 x	7.5 x	6.52 x
EV / FCF	-15.6 x	-2.04 x	-9.3 x	6.71 x	-12.7 x	7.11 x	11.6 x	10.1 x
FCF Yield	-6.43%	-49%	-10.8%	14.9%	-7.89%	14.1%	8.6%	9.91%
Price to Book	1.67 x	1.19 x	4.41 x	3.21 x	2.6 x	2.22 x	1.7 x	1.59 x
Nbr of stocks (in thousands)	57,373	57,749	70,044	73,952	73,962	74,712	-	-
Reference price ²	2,816	1,401	2,559	2,059	1,698	1,732	1,732	1,732
Announcement Date	12/12/19	11/12/20	28/12/21	15/12/22	15/12/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: October	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	8,08,510	4,30,284	1,18,563	1,42,794	2,51,866	3,95,300	3,82,720	4,07,145
EBITDA ¹	26,390	-18,249	-50,648	-34,761	12,409	22,678	23,478	25,665
EBIT ¹	17,540	-31,129	-64,058	-47,934	1,397	11,111	13,027	15,157
Operating Margin	2.17%	-7.23%	-54.03%	-33.57%	0.55%	2.81%	3.4%	3.72%
Earnings before Tax (EBT) ¹	20,352	-33,101	-51,008	-8,222	-1,288	10,504	11,790	13,445
Net income ¹	12,249	-25,037	-50,050	-9,547	-2,618	7,787	7,909	9,494
Net margin	1.52%	-5.82%	-42.21%	-6.69%	-1.04%	1.97%	2.07%	2.33%
EPS ²	213.6	-432.7	-749.9	-130.0	-35.35	93.91	107.5	128.9
Free Cash Flow ¹	-12,339	-1,14,768	-35,492	38,605	-15,318	27,596	15,139	16,590
FCF margin	-1.53%	-26.67%	-29.94%	27.04%	-6.08%	6.98%	3.96%	4.07%
FCF Conversion (EBITDA)	-	-	-	-	-	121.69%	64.48%	64.64%
FCF Conversion (Net income)	-	-	-	-	-	354.4%	191.43%	174.74%
Dividend per Share ²	33.00	-	-	-	-	10.80	13.60	15.80
Announcement Date	12/12/19	11/12/20	28/12/21	15/12/22	15/12/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: October	2020 S1	2021 S1	2021 Q4	2022 Q1	2022 Q2	2022 S1	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 S1	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	3,44,353	64,983	27,825	33,588	34,903	68,491	31,449	42,854	46,143	56,770	1,02,913	61,068	87,885	80,520	76,727	1,61,810	76,277	1,03,795	-	-
EBITDA ¹	-	-	-	-	-	-	-	-	-	2,723	-	-	-	-	3,300	9,500	2,600	10,300	-	-
EBIT ¹	-1,469	-31,669	-17,326	-12,158	-15,972	-28,130	-11,012	-8,792	-3,439	81	-3,358	-832	5,587	3,448	550	3,974	250	7,018	-	-
Operating Margin	-0.43%	-48.73%	-62.27%	-36.2%	-45.76%	-41.07%	-35.02%	-20.52%	-7.45%	0.14%	-3.26%	-1.36%	6.36%	4.28%	0.72%	2.46%	0.33%	6.76%	-	-
Earnings before Tax (EBT) ¹	-3,846	-23,476	-	-8,240	-15,117	-23,357	-8,339	23,474	-3,287	-324	-3,611	-158	2,481	3,684	500	4,200	-200	6,400	-	-
Net income ¹	-3,459	-23,597	-16,833	-9,299	-17,612	-26,911	-6,352	23,716	-3,571	-1,238	-4,809	-826	3,017	2,582	450	2,700	400	4,787	-	-
Net margin	-1%	-36.31%	-60.5%	-27.69%	-50.46%	-39.29%	-20.2%	55.34%	-7.74%	-2.18%	-4.67%	-1.35%	3.43%	3.21%	0.59%	1.67%	0.52%	4.61%	-	-
EPS ²	-60.24	-368.0	-244.7	-128.7	-240.0	-368.7	-85.25	323.9	-48.30	-16.73	-65.03	-11.17	40.85	34.57	1.200	35.70	-3.100	63.84	-	-
Dividend per Share ²	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10.00	-	-
Announcement Date	24/06/20	11/06/21	28/12/21	17/03/22	13/06/22	13/06/22	13/09/22	15/12/22	15/03/23	14/06/23	14/06/23	13/09/23	15/12/23	15/03/24	-	-	-	-	-	-

¹JPY in Million²JPY

Estimates

Balance Sheet Analysis

Fiscal Period: October	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	30,329	1,53,323	1,50,893	1,06,924	68,561	66,760	46,579	38,003
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.149 x	-8.402 x	-2.979 x	-3.076 x	5.525 x	2.944 x	1.984 x	1.481 x
Free Cash Flow ¹	-12,339	-1,14,768	-35,492	38,605	-15,318	27,596	15,139	16,590
ROE (net income / shareholders' equity)	13.2%	-29.3%	-87.4%	-21.7%	-5.4%	15.6%	11.3%	10.8%
ROA (Net income/ Total Assets)	3.13%	-6.31%	-15.3%	-11.9%	0.34%	2.1%	1.65%	2%
Assets ¹	3,91,787	3,96,969	3,26,576	80,508	-7,75,198	3,70,797	4,79,309	4,74,703
Book Value Per Share ²	1,686	1,178	580.0	641.0	653.0	781.0	1,022	1,086
Cash Flow per Share ²	368.0	-986.0	-561.0	40.00	106.0	719.0	323.0	341.0
Capex ¹	92,680	57,697	18,177	10,001	7,216	8,029	5,495	17,662
Capex / Sales	11.46%	13.41%	15.33%	7%	2.87%	2.03%	1.44%	4.34%
Announcement Date	12/12/19	11/12/20	28/12/21	15/12/22	15/12/23	-	-	-

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

Ratings for H.I.S. Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

C-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

1,732 JPY

Average target price

1,878 JPY

Spread / Average Target

+8.45%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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TRIPADVISOR, INC.	+22.25%	3.67B
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WEBJET LIMITED	+9.60%	2.08B
SEERA HOLDING GROUP	+1.30%	1.97B
TRAINLINE PLC	-9.01%	1.71B

Travel Agents