Financials Kakaku.com, Inc.

Equities

2371

JP3206000006

Internet Services

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-05-17 am EDT			5-day change	1st Jan Change
1,904 ^JPY	-3.23%		+3.14%	+9.08%

May. 15	Kakaku.Com, Inc. Announces Board Retirements	CI
May. 09	Kakaku.Com, Inc. Announces Dividend for the Fiscal Year Ended 2024, Payable on June 20, 2024; Provides Dividend Guidance for the Second Quarter and Fiscal Year Ending 2025	CI

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	443,754	408,624	621,989	564,087	362,989	376,266	-	-
Enterprise Value (EV) ¹	417,332	379,120	587,101	529,789	332,494	371,716	347,415	330,226
P/E ratio	26.7 x	22.5 x	52.9 x	39.6 x	22.8 x	20.8 x	19.1 x	17.1 x
Yield	1.69%	2.02%	1.32%	1.45%	2.22%	2.4%	2.64%	2.87%
Capitalization / Revenue	8.09 x	6.7 x	12.2 x	10.9 x	5.97 x	5.55 x	5.1 x	4.63 x
EV / Revenue	7.61 x	6.22 x	11.5 x	10.2 x	5.47 x	5.55 x	4.71 x	4.06 x
EV / EBITDA	15.6 x	12.5 x	26.9 x	23.4 x	12.1 x	11.9 x	11.3 x	9.45 x
EV / FCF	25.4 x	17.8 x	38.9 x	36 x	16.3 x	21.3 x	17.2 x	15.1 x
FCF Yield	3.93%	5.62%	2.57%	2.78%	6.14%	4.69%	5.81%	6.61%
Price to Book	10.9 x	9.52 x	13.3 x	11.8 x	7.59 x	7.23 x	6.08 x	5.55 x
Nbr of stocks (in thousands)	208,629	205,856	205,957	204,602	201,102	197,567	-	-
Reference price ²	2,127	1,985	3,020	2,757	1,805	1,904	1,904	1,904
Announcement Date	5/9/19	5/12/20	5/11/21	5/11/22	5/10/23	5/9/24	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	54,832	60,978	51,077	51,723	60,820	66,928	73,713	81,355
EBITDA ¹	26,836	30,436	21,863	22,650	27,510	28,829	30,790	34,945
EBIT ¹	25,070	27,217	18,295	19,147	23,947	25,819	28,686	31,848
Operating Margin	45.72%	44.63%	35.82%	37.02%	39.37%	38.58%	38.92%	39.15%
Earnings before Tax (EBT) ¹	24,839	26,619	17,904	20,897	23,253	26,122	28,536	31,845
Net income ¹	16,697	18,348	11,763	14,294	16,132	18,095	19,729	21,923
Net margin	30.45%	30.09%	23.03%	27.64%	26.52%	27.04%	26.76%	26.95%
EPS ²	79.70	88.25	57.13	69.65	79.29	90.45	99.56	111.1
Free Cash Flow ¹	16,421	21,294	15,086	14,722	20,400	17,420	20,180	21,827
FCF margin	29.95%	34.92%	29.54%	28.46%	33.54%	26.03%	27.38%	26.83%
FCF Conversion (EBITDA)	61.19%	69.96%	69%	65%	74.15%	62.66%	65.54%	62.46%
FCF Conversion (Net income)	98.35%	116.06%	128.25%	102.99%	126.46%	96.27%	102.29%	99.56%
Dividend per Share ²	36.00	40.00	40.00	40.00	40.00	45.71	50.29	54.70
Announcement Date	5/9/19	5/12/20	5/11/21	5/11/22	5/10/23	5/9/24	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2020 S1	2021 S1	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	2025 Q3	2025 Q4
Net sales ¹	29,529	21,746	11,861	23,882	14,053	13,788	14,015	14,225	28,240	16,321	16,259	15,362	16,073	31,435	17,244	18,249	17,145	17,599	18,706	19,633
EBITDA ¹	-	-	-	-	-	6,244	6,238	6,407	-	7,916	6,949	-	-	-	7,922	7,900	-	-	-	-
EBIT ¹	13,569	6,877	4,109	8,121	5,661	5,365	5,374	5,532	10,906	7,021	6,020	5,171	6,128	11,299	7,000	7,520	6,345	6,738	7,530	7,807
Operating Margin	45.95%	31.62%	34.64%	34%	40.28%	38.91%	38.34%	38.89%	38.62%	43.02%	37.03%	33.66%	38.13%	35.94%	40.59%	41.21%	37.01%	38.29%	40.26%	39.76%
Earnings before Tax (EBT) ¹	13,343	6,579	4,060	8,027	6,786	6,084	5,645	5,685	11,330	7,045	4,878	5,296	6,220	11,516	6,989	7,617	5,961	6,786	7,661	8,423
Net income ¹	9,095	4,442	3,024	5,774	4,674	3,846	4,170	3,876	8,046	4,791	3,295	3,651	4,265	7,916	4,761	5,418	4,101	4,676	5,281	5,793
Net margin	30.8%	20.43%	25.5%	24.18%	33.26%	27.89%	29.75%	27.25%	28.49%	29.35%	20.27%	23.77%	26.54%	25.18%	27.61%	29.69%	23.92%	26.57%	28.23%	29.51%
EPS ²	43.59	21.57	-	28.06	22.80	-	20.38	-	39.33	23.53	-	18.15	21.21	39.36	23.76	27.33	20.90	23.83	26.91	29.52
Dividend per Share ²	-	20.00	-	20.00	-	-	-	-	20.00	-	-	-	23.00	23.00	-	23.00	-	25.00	-	26.00
Announcement Date	11/6/19	11/5/20	11/5/21	11/5/21	2/3/22	5/11/22	8/3/22	11/2/22	11/2/22	2/2/23	5/10/23	8/3/23	11/7/23	11/7/23	2/6/24	5/9/24	-	-	-	-

¹JPY in Million²JPY

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	26,422	29,504	34,888	34,298	30,495	32,575	28,852	46,041
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	16,421	21,294	15,086	14,722	20,400	17,420	20,180	21,827
ROE (net income / shareholders' equity)	45.1%	44%	26.2%	30.1%	33.7%	36.5%	35.2%	35.5%
ROA (Net income/ Total Assets)	52.8%	46.5%	26.7%	29.5%	31.2%	32.3%	30.2%	23%
Assets ¹	31,598	39,482	44,110	48,372	51,697	56,063	65,329	95,179
Book Value Per Share ²	194.0	208.0	228.0	234.0	238.0	260.0	313.0	343.0
Cash Flow per Share	88.10	104.0	74.50	86.70	96.80	109.0	-	-
Capex ¹	1,870	2,703	2,202	1,775	2,000	2,096	2,290	2,555
Capex / Sales	3.41%	4.43%	4.31%	3.43%	3.29%	3.13%	3.11%	3.14%
Announcement Date	5/9/19	5/12/20	5/11/21	5/11/22	5/10/23	5/9/24	-	-

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 Kakaku.com, Inc.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

1,968 JPY

Average target price

2,030 JPY

Spread / Average Target

+3.17%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

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