Financials Round One Corporation

Equities

4680

JP3966800009

Leisure & Recreation

Market Closed - Japan Exchange Other stock markets 11:30:00 12/09/2024 am IST			5-day change	1st Jan Change
989.00 ^JPY	+3.45%		+13.68%	+77.24%

09/09	Jefferies Adjusts Round One's Price Target to 1,100 Yen From 950 Yen, Keeps at Buy	MT
09/09	Round One's Total Sales In Japan, US Rise in August	MT

Projected Income Statement: Round One Corporation

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	1,04,779	60,967	96,421	1,42,051	1,59,181	1,72,045	1,85,550	2,03,918
Change	-	-41.81%	58.15%	47.32%	12.06%	8.08%	7.85%	9.9%
EBITDA ¹	23,121	-3,757	14,719	36,744	45,257	47,479	53,858	58,916
Change	-	-	-	149.64%	23.17%	4.91%	13.44%	9.39%
EBIT ¹	8,880	-19,286	-1,726	16,921	24,195	26,314	29,484	34,190
Change	-	-	-91.05%	-	42.99%	8.76%	12.05%	15.96%
Interest Paid ¹	-483	-1,211	-828	-818	-635	-724	-982	-782
Earnings before Tax (EBT) ¹	7,168	-21,829	4,272	15,038	23,113	25,503	28,169	32,432
Change	-	-	-	252.01%	53.7%	10.34%	10.45%	15.13%
Net income ¹	4,794	-17,973	3,937	9,737	15,666	17,612	19,219	22,429
Change	-	-	-	147.32%	60.89%	12.42%	9.13%	16.71%
Announcement Date	11/05/20	12/05/21	11/05/22	09/05/23	08/05/24	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	25,554	27,634	23,858	27,733	5,630	17,633	16,902	20,802	18,243	23,102	25,233	29,843	30,912	36,575	33,897	40,667	35,951	40,879	36,563	45,788	40,389	44,250	38,938	48,937
Change	-	8.14%	-13.66%	16.24%	-79.7%	213.2%	-4.15%	23.07%	-12.3%	26.63%	9.22%	18.27%	3.58%	18.32%	-7.32%	19.97%	-11.6%	13.71%	-10.56%	25.23%	-11.79%	12.72%	-12%	25.68%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12,700	8,500	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-33.07%	-100%
EBIT ¹	2,360	3,453	-69	3,136	-11,050	-3,261	-3,830	-1,145	-3,572	-1,102	-41	2,989	2,359	4,570	1,970	8,022	3,884	6,593	2,877	10,841	4,880	7,592	2,842	10,885
Change	-	46.31%	-	-	-	-70.49%	17.45%	-70.1%	211.97%	-69.15%	-96.28%	-	-21.08%	93.73%	-56.89%	307.21%	-51.58%	69.75%	-56.36%	276.82%	-54.99%	75.53%	-62.57%	283.02%
Charge d'intérêts	-124	-	-116	-	-153	-	-168	-	-238	-	-226	-	-220	-	-200	-	-165	-	-154	-	-152	-	-	-
Earnings before Tax (EBT)	2,094	3,309	-171	1,936	-11,069	-3,303	-6,036	-1,421	-3,602	1,935	2,552	3,387	2,553	4,530	1,394	6,561	3,785	7,328	2,626	9,374	4,863	7,151	2,565	11,032
Change	-	58.02%	-	-	-	-70.16%	82.74%	-76.46%	153.48%	-	31.89%	32.72%	-24.62%	77.44%	-69.23%	370.66%	-42.31%	93.61%	-64.16%	256.97%	-48.12%	47.04%	-64.13%	330.15%
Net income ¹	1,441	2,264	-174	1,263	-8,559	-2,635	-5,289	-1,490	-3,925	1,807	3,215	2,840	2,025	3,216	871	3,625	2,613	5,176	1,752	6,125	3,228	4,999	1,648	6,360
Change	-	57.11%	-	-	-	-69.21%	100.72%	-71.83%	163.42%	-	77.92%	-11.66%	-28.7%	58.81%	-72.92%	316.19%	-27.92%	98.09%	-66.15%	249.6%	-47.3%	77.89%	-67.02%	285.81%
Announcement Date	07/08/19	08/11/19	07/02/20	11/05/20	05/08/20	06/11/20	05/02/21	12/05/21	05/08/21	05/11/21	10/02/22	11/05/22	05/08/22	11/11/22	10/02/23	09/05/23	07/08/23	10/11/23	09/02/24	08/05/24	07/08/24	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2020 S2	2021 S1	2021 S2	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2025 S1
Net sales ¹	51,591	23,263	37,704	41,345	55,076	67,487	74,564	76,830	84,330
Change	-	-54.91%	62.08%	9.66%	33.21%	22.53%	10.49%	3.04%	9.76%
EBITDA	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-
EBIT ¹	3,067	-14,311	-4,975	-4,674	2,948	6,929	9,992	10,477	12,385
Change	-	-	-65.24%	-6.05%	-	135.04%	44.21%	4.85%	18.21%
Charge d'intérêts	-	-339	-	-459	-	-432	-	-330	-
Earnings before Tax (EBT)	-	-14,372	-	-1,667	-	7,083	-	11,113	-
Change	-	-	-100%	-	-100%	-	-100%	-	-100%
Net income ¹	1,089	-11,194	-6,779	-2,118	6,055	5,241	4,496	7,789	9,700
Change	-	-	-39.44%	-68.76%	-	-13.44%	-14.21%	73.24%	24.53%
Announcement Date	11/05/20	06/11/20	12/05/21	05/11/21	11/05/22	11/11/22	09/05/23	10/11/23	-

¹JPY in Million

Estimates

Forecast Balance Sheet: Round One Corporation

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	11,124	39,314	24,203	53,850	47,179	37,555	23,963	6,479
Change	-	253.42%	-38.44%	122.49%	-12.39%	-20.4%	-36.19%	-72.96%
Announcement Date	11/05/20	12/05/21	11/05/22	09/05/23	08/05/24	-	-	-

¹JPY in Million

Estimates

Cash Flow Forecast: Round One Corporation

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	23,796	20,139	21,029	26,461	29,759	24,208	23,822	24,288
Change	-	-15.37%	4.42%	25.83%	12.46%	-18.65%	-1.6%	1.96%
Free Cash Flow (FCF) ¹	8,477	-27,667	19,831	23,919	29,276	19,505	23,956	25,325
Change	-	-426.38%	-171.68%	20.61%	22.4%	-33.37%	22.82%	5.71%
Announcement Date	11/05/20	12/05/21	11/05/22	09/05/23	08/05/24	-	-	-

¹JPY in Million

Estimates

Forecast Financial Ratios: Round One Corporation

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	22.07%	-6.16%	15.27%	25.87%	28.43%	27.6%	29.03%	28.89%
EBIT Margin (%)	8.47%	-31.63%	-1.79%	11.91%	15.2%	15.29%	15.89%	16.77%
EBT Margin (%)	6.84%	-35.8%	4.43%	10.59%	14.52%	14.82%	15.18%	15.9%
Net margin (%)	4.58%	-29.48%	4.08%	6.85%	9.84%	10.24%	10.36%	11%
FCF margin (%)	8.09%	-45.38%	20.57%	16.84%	18.39%	11.34%	12.91%	12.42%
FCF / Net Income (%)	176.83%	153.94%	503.71%	245.65%	186.88%	110.75%	124.65%	112.91%
Profitability
ROA	6.89%	-13.83%	3.48%	10.17%	13.66%	9.74%	9.65%	10.18%
ROE	7.5%	-34%	8.3%	16.9%	23.9%	22.87%	22.09%	21.38%
Financial Health
Leverage (Debt/EBITDA)	0.48x	-10.46x	1.64x	1.47x	1.04x	0.79x	0.44x	0.11x
Debt / Free cash flow	1.31x	-1.42x	1.22x	2.25x	1.61x	1.93x	1x	0.26x
Capital Intensity
CAPEX / Current Assets (%)	22.71%	33.03%	21.81%	18.63%	18.7%	14.07%	12.84%	11.91%
CAPEX / EBITDA (%)	102.92%	-536.04%	142.87%	72.01%	65.76%	50.99%	44.23%	41.23%
CAPEX / FCF (%)	280.71%	-72.79%	106.04%	110.63%	101.65%	124.11%	99.44%	95.91%
Items per share
Cash flow per share ¹	66.61	-9.163	72.46	103.3	136	167.3	177.7	192.7
Change	-	-113.76%	-890.72%	42.57%	31.62%	23.08%	6.16%	8.48%
Dividend per Share ¹	6.667	6.667	6.667	8	12	16	18	19.4
Change	-	0%	0%	20%	50%	33.33%	12.5%	7.78%
Book Value Per Share ¹	227.3	152.9	189.7	217.3	260.6	287.5	351.8	408.1
Change	-	-32.75%	24.09%	14.55%	19.92%	10.34%	22.36%	15.99%
EPS ¹	16.78	-67.4	14	34.03	57.99	65.28	71.23	83.12
Change	-	-501.73%	-120.77%	143.13%	70.41%	12.56%	9.12%	16.7%
Nbr of stocks (in thousands)	2,85,779	2,66,100	2,86,355	2,84,529	2,69,501	2,69,978	2,69,978	2,69,978
Announcement Date	11/05/20	12/05/21	11/05/22	09/05/23	08/05/24	-	-	-