Financials SCSK Corporation

Equities

9719

JP3400400002

IT Services & Consulting

Market Closed - Japan Exchange Other stock markets 11:30:00 01/05/2024 am IST			5-day change	1st Jan Change
2,865 ^JPY	-0.37%		+5.47%	+2.47%

2023	Jefferies Adjusts SCSK's Price Target to 3,000 Yen From 2,800 Yen, Keeps at Buy	MT
2023	New entry in MarketScreener's Asia portfolio

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	5,12,398	4,99,949	6,82,581	6,55,975	6,04,375	8,98,349	-	-
Enterprise Value (EV) ¹	5,48,980	5,25,395	6,59,234	6,13,694	5,60,865	8,86,477	8,14,095	7,88,922
P/E ratio	18.4 x	16 x	20.4 x	19.6 x	16.2 x	21.9 x	20.4 x	18.8 x
Yield	2.03%	2.7%	2.06%	2.03%	2.69%	2.02%	2.29%	2.55%
Capitalization / Revenue	1.43 x	1.29 x	1.72 x	1.58 x	1.36 x	1.85 x	1.77 x	1.69 x
EV / Revenue	1.53 x	1.36 x	1.66 x	1.48 x	1.26 x	1.85 x	1.61 x	1.48 x
EV / EBITDA	11.2 x	9.89 x	10.3 x	9.1 x	7.79 x	10.6 x	9.7 x	9 x
EV / FCF	30.2 x	14.9 x	22.2 x	13.9 x	19.6 x	16.7 x	19 x	17.4 x
FCF Yield	3.31%	6.73%	4.5%	7.19%	5.11%	5.99%	5.26%	5.74%
Price to Book	2.65 x	2.41 x	3.01 x	2.66 x	2.22 x	2.93 x	2.83 x	2.6 x
Nbr of stocks (in thousands)	3,11,488	3,11,495	3,12,156	3,12,220	3,12,339	3,12,415	-	-
Reference price ²	1,645	1,605	2,187	2,101	1,935	2,876	2,876	2,876
Announcement Date	26/04/19	28/04/20	28/04/21	28/04/22	28/04/23	26/04/24	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	3,58,654	3,87,003	3,96,853	4,14,150	4,45,912	4,80,307	5,06,594	5,31,872
EBITDA ¹	48,938	53,112	64,311	67,436	71,990	79,234	83,886	87,622
EBIT ¹	38,378	42,326	45,878	47,555	51,361	57,004	62,335	67,391
Operating Margin	10.7%	10.94%	11.56%	11.48%	11.52%	11.87%	12.3%	12.67%
Earnings before Tax (EBT) ¹	39,477	43,961	46,557	48,315	53,336	57,459	63,360	68,412
Net income ¹	27,892	31,201	33,435	33,470	37,301	40,461	43,933	47,607
Net margin	7.78%	8.06%	8.43%	8.08%	8.37%	8.42%	8.67%	8.95%
EPS ²	89.55	100.2	107.1	107.2	119.4	129.5	140.6	152.8
Free Cash Flow ¹	18,175	35,346	29,633	44,154	28,642	53,143	42,849	45,278
FCF margin	5.07%	9.13%	7.47%	10.66%	6.42%	11.06%	8.46%	8.51%
FCF Conversion (EBITDA)	37.14%	66.55%	46.08%	65.48%	39.79%	42.02%	51.08%	51.67%
FCF Conversion (Net income)	65.16%	113.28%	88.63%	131.92%	76.79%	131.34%	97.53%	95.11%
Dividend per Share ²	33.33	43.33	45.00	42.70	52.00	58.00	65.89	73.22
Announcement Date	26/04/19	28/04/20	28/04/21	28/04/22	28/04/23	26/04/24	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2020 S1	2020 S2	2021 S1	2021 S2	2022 Q2	2022 S1	2022 Q3	2022 Q4	2022 S2	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2023 S2	2024 Q1	2024 Q2	2024 S1	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	1,87,329	1,99,674	1,89,755	2,07,098	1,00,815	2,00,025	1,02,729	1,11,396	2,14,125	1,04,417	1,08,682	2,13,099	1,09,925	1,22,888	2,32,813	1,13,371	1,17,825	2,31,196	1,20,167	1,28,944	1,21,000	1,27,000	1,27,000	1,38,000
EBITDA ¹	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	24,966	-	-	-	-
EBIT ¹	19,800	22,526	21,217	24,661	11,703	22,590	12,184	12,781	24,965	9,937	12,578	22,515	12,665	16,181	28,846	12,950	13,976	26,926	14,062	16,016	13,950	15,200	15,550	18,300
Operating Margin	10.57%	11.28%	11.18%	11.91%	11.61%	11.29%	11.86%	11.47%	11.66%	9.52%	11.57%	10.57%	11.52%	13.17%	12.39%	11.42%	11.86%	11.65%	11.7%	12.42%	11.53%	11.97%	12.24%	13.26%
Earnings before Tax (EBT) ¹	19,993	-	21,536	25,021	11,727	22,857	12,299	13,159	25,458	10,100	13,339	23,439	13,419	16,478	29,897	12,945	13,755	26,700	14,236	16,523	-	-	-	-
Net income ¹	13,796	17,405	14,869	18,566	8,081	15,784	8,473	9,213	17,686	7,006	9,220	16,226	9,268	11,807	21,075	9,007	9,461	18,468	9,867	12,126	-	-	-	-
Net margin	7.36%	8.72%	7.84%	8.96%	8.02%	7.89%	8.25%	8.27%	8.26%	6.71%	8.48%	7.61%	8.43%	9.61%	9.05%	7.94%	8.03%	7.99%	8.21%	9.4%	-	-	-	-
EPS ²	44.29	55.87	47.62	-	25.88	50.55	27.14	29.51	-	22.44	29.52	51.96	29.67	37.81	-	28.84	30.28	59.12	31.58	38.81	-	-	-	-
Dividend per Share ²	21.67	-	21.67	-	23.33	23.33	-	19.37	-	-	26.00	26.00	-	26.00	-	-	-	28.00	-	32.00	-	-	-	-
Announcement Date	30/10/19	28/04/20	29/10/20	28/04/21	29/10/21	29/10/21	31/01/22	28/04/22	28/04/22	29/07/22	31/10/22	31/10/22	31/01/23	28/04/23	28/04/23	28/07/23	27/10/23	27/10/23	31/01/24	26/04/24	-	-	-	-

¹JPY in Million²JPY

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	36,582	25,446	-	-	-	-	-	-
Net Cash position ¹	-	-	23,347	42,281	43,510	59,260	84,254	1,09,426
Leverage (Debt/EBITDA)	0.7475 x	0.4791 x	-	-	-	-	-	-
Free Cash Flow ¹	18,175	35,346	29,633	44,154	28,642	53,143	42,849	45,278
ROE (net income / shareholders' equity)	14.6%	15.6%	15.7%	14.1%	14.4%	14.1%	14.4%	14.3%
ROA (Net income/ Total Assets)	12.5%	13.1%	12.9%	8.49%	12.7%	12.7%	13.6%	10.9%
Assets ¹	2,23,265	2,38,403	2,59,570	3,94,006	2,94,807	3,19,296	3,23,038	4,36,138
Book Value Per Share ²	621.0	667.0	727.0	791.0	871.0	967.0	1,015	1,104
Cash Flow per Share ²	123.0	133.0	166.0	189.0	185.0	198.0	206.0	215.0
Capex ¹	15,336	13,604	12,710	10,157	26,208	14,757	19,633	18,900
Capex / Sales	4.28%	3.52%	3.2%	2.45%	5.88%	3.07%	3.88%	3.55%
Announcement Date	26/04/19	28/04/20	28/04/21	28/04/22	28/04/23	26/04/24	-	-

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

Ratings for SCSK Corporation

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

2,876 JPY

Average target price

2,897 JPY

Spread / Average Target

+0.75%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Computer Programming