Financials Ai Holdings Corporation

Equities

3076

JP3105090009

Computer Hardware

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-04-26 am EDT			5-day change	1st Jan Change
2,410 ^JPY	+0.50%		+1.99%	+3.04%

Mar. 07	Earnings Flash (BBAI) BIGBEAR.AI HOLDINGS Posts Q4 Revenue $40.6M, vs. Street Est of $42.8M	MT
Mar. 07	Top Premarket Decliners	MT

Valuation

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	82,405	73,595	103,713	73,409	109,402	114,137	-	-
Enterprise Value (EV) ¹	61,081	49,668	73,156	38,358	73,192	114,137	114,137	114,137
P/E ratio	15.3 x	15.9 x	17.7 x	9.49 x	13.3 x	12.2 x	13.4 x	12.5 x
Yield	2.3%	2.9%	2.05%	3.87%	3.46%	3.73%	3.67%	3.86%
Capitalization / Revenue	1.61 x	1.7 x	2.24 x	1.56 x	2.36 x	2.23 x	2.07 x	1.96 x
EV / Revenue	1.61 x	1.7 x	2.24 x	1.56 x	2.36 x	2.23 x	2.07 x	1.96 x
EV / EBITDA	8.97 x	8.73 x	10 x	6.84 x	10.6 x	9.73 x	9.23 x	8.74 x
EV / FCF	20.2 x	16 x	11.9 x	9.98 x	35 x	15.6 x	14.4 x	13.7 x
FCF Yield	4.95%	6.24%	8.4%	10%	2.86%	6.4%	6.92%	7.28%
Price to Book	1.75 x	1.49 x	1.93 x	1.2 x	1.63 x	1.67 x	1.54 x	1.45 x
Nbr of stocks (in thousands)	47,359	47,358	47,357	47,361	47,360	47,360	-	-
Reference price ²	1,740	1,554	2,190	1,550	2,310	2,410	2,410	2,410
Announcement Date	8/19/19	8/18/20	8/18/21	8/19/22	8/18/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	51,031	43,179	46,219	47,059	46,396	51,100	55,067	58,300
EBITDA ¹	9,191	8,427	10,326	10,726	10,314	11,734	12,371	13,066
EBIT ¹	8,410	7,596	9,447	9,850	9,434	10,533	11,500	12,367
Operating Margin	16.48%	17.59%	20.44%	20.93%	20.33%	20.61%	20.88%	21.21%
Earnings before Tax (EBT) ¹	7,939	6,762	9,365	10,987	10,492	12,500	11,867	12,723
Net income ¹	5,386	4,620	5,863	7,738	8,243	9,376	8,513	9,116
Net margin	10.55%	10.7%	12.69%	16.44%	17.77%	18.35%	15.46%	15.64%
EPS ²	113.7	97.57	123.8	163.4	174.1	198.1	179.9	192.7
Free Cash Flow ¹	4,076	4,589	8,716	7,357	3,129	7,301	7,902	8,308
FCF margin	7.99%	10.63%	18.86%	15.63%	6.74%	14.29%	14.35%	14.25%
FCF Conversion (EBITDA)	44.35%	54.46%	84.41%	68.59%	30.34%	62.22%	63.88%	63.58%
FCF Conversion (Net income)	75.68%	99.33%	148.66%	95.08%	37.96%	77.87%	92.83%	91.13%
Dividend per Share ²	40.00	45.00	45.00	60.00	80.00	90.00	88.33	93.00
Announcement Date	8/19/19	8/18/20	8/18/21	8/19/22	8/18/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: June	2020 S1	2020 S2	2021 S1	2021 S2	2022 Q1	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	2024 S2
Net sales ¹	22,734	20,445	23,294	22,925	11,499	11,459	22,958	12,125	11,976	24,101	10,796	12,522	23,318	12,510	10,568	23,078	11,973	12,791	24,764	13,550	12,582	26,132
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	4,512	3,084	4,673	4,774	2,525	2,487	5,012	2,516	2,322	4,838	2,259	2,612	4,871	2,665	1,898	4,563	2,353	2,765	5,118	2,970	2,521	5,491
Operating Margin	19.85%	15.08%	20.06%	20.82%	21.96%	21.7%	21.83%	20.75%	19.39%	20.07%	20.92%	20.86%	20.89%	21.3%	17.96%	19.77%	19.65%	21.62%	20.67%	21.92%	20.04%	21.01%
Earnings before Tax (EBT) ¹	4,610	2,152	4,675	4,690	2,703	2,629	5,332	2,794	2,861	5,655	2,744	2,512	5,256	2,878	2,358	5,236	2,691	8,198	10,889	2,815	2,322	5,137
Net income ¹	3,171	1,449	3,218	2,645	2,006	1,803	3,809	2,024	1,905	3,929	2,031	1,792	3,823	1,968	2,452	4,420	1,799	7,403	9,202	2,028	1,943	3,970
Net margin	13.95%	7.09%	13.81%	11.54%	17.44%	15.73%	16.59%	16.69%	15.91%	16.3%	18.81%	14.31%	16.4%	15.73%	23.2%	19.15%	15.03%	57.88%	37.16%	14.96%	15.44%	15.19%
EPS ²	66.96	-	67.95	55.86	42.36	38.09	80.45	42.73	40.22	82.95	42.90	37.83	80.73	41.55	51.78	93.33	37.99	156.3	194.3	47.00	44.70	91.70
Dividend per Share ²	22.00	-	22.00	23.00	-	25.00	25.00	-	35.00	35.00	-	35.00	35.00	-	45.00	45.00	-	45.00	45.00	-	45.00	45.00
Announcement Date	2/14/20	8/18/20	2/15/21	8/18/21	11/12/21	2/14/22	2/14/22	5/16/22	8/19/22	8/19/22	11/11/22	2/14/23	2/14/23	5/15/23	8/18/23	8/18/23	11/14/23	2/14/24	2/14/24	-	-	-

¹JPY in Million²JPY

Estimates

Balance Sheet Analysis

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	21,324	23,927	30,557	35,051	36,210	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	4,076	4,589	8,716	7,357	3,129	7,301	7,903	8,308
ROE (net income / shareholders' equity)	11.9%	9.6%	11.4%	13.5%	12.9%	10.4%	11.6%	11.6%
ROA (Net income/ Total Assets)	14.5%	13.1%	15.5%	15.3%	13.5%	8.7%	9%	9.2%
Assets ¹	37,255	35,164	37,868	50,664	61,100	107,766	94,585	99,091
Book Value Per Share ²	992.0	1,046	1,135	1,295	1,420	1,441	1,561	1,658
Cash Flow per Share	130.0	115.0	142.0	182.0	193.0	-	-	-
Capex ¹	760	989	826	738	1,412	400	712	760
Capex / Sales	1.49%	2.29%	1.79%	1.57%	3.04%	0.78%	1.29%	1.3%
Announcement Date	8/19/19	8/18/20	8/18/21	8/19/22	8/18/23	-	-	-

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 Ai Holdings Corporation

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

2,410 JPY

Average target price

2,850 JPY

Spread / Average Target

+18.26%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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