Financials Arclands Corporation

Equities

9842

JP3100100001

Home Improvement Products & Services Retailers

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-04-26 am EDT			5-day change	1st Jan Change
1,931 ^JPY	-1.48%		+2.33%	+14.94%

2023	Arclands Corporation completed the acquisition of remaining 44.97% stake in Arcland Service Holdings Co., Ltd. from Custody Bank of Japan, Ltd., The Master Trust Bank of Japan, Ltd., SMBC Nikko Securities Inc., BNY GCM CLIENT ACCOUNT JPRD AC ISG (FE-AC), Moritaka Sakamoto, Kiyoko Usui and Hisashi Ito.	CI
2023	Arclands Corporation entered into a share exchange agreement to acquire remaining 44.97% stake in Arcland Service Holdings Co., Ltd. from Custody Bank of Japan, Ltd., The Master Trust Bank of Japan, Ltd., SMBC Nikko Securities Inc., BNY GCM CLIENT ACCOUNT JPRD AC ISG (FE-AC), Moritaka Sakamoto, Kiyoko Usui and Hisashi Ito for Â¥42.7 billion.	CI

Valuation

Fiscal Period: February	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	58,281	44,370	62,053	63,635	58,444	120,346	-	-
Enterprise Value (EV) ¹	41,937	30,053	210,639	206,574	196,398	104,827	223,146	214,446
P/E ratio	10.2 x	9.15 x	7.11 x	3.88 x	6.05 x	9.49 x	10.3 x	10.1 x
Yield	2.09%	2.74%	2.29%	2.23%	2.78%	2.38%	2.07%	2.07%
Capitalization / Revenue	0.53 x	0.39 x	0.35 x	0.18 x	0.19 x	0.34 x	0.38 x	0.38 x
EV / Revenue	0.38 x	0.27 x	1.18 x	0.58 x	0.63 x	0.34 x	0.71 x	0.68 x
EV / EBITDA	3.43 x	2.46 x	10.1 x	6.29 x	6.6 x	3.9 x	7.59 x	7.27 x
EV / FCF	8,146,362 x	883,915,502 x	-2,302,018 x	24,574,576 x	26,630,171 x	-800,207,378 x	-	-
FCF Yield	0%	0%	-0%	0%	0%	-0%	-	-
Price to Book	0.83 x	0.6 x	0.76 x	0.66 x	0.56 x	0.9 x	1.02 x	0.95 x
Nbr of stocks (in thousands)	40,558	40,558	40,558	40,558	40,558	62,323	-	-
Reference price ²	1,437	1,094	1,530	1,569	1,441	1,931	1,931	1,931
Announcement Date	3/25/19	3/23/20	3/29/21	4/11/22	4/14/23	4/12/24	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: February	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	109,913	112,684	178,477	357,190	313,487	310,697	313,800	314,900
EBITDA ¹	12,227	12,235	20,779	32,849	29,754	26,866	29,400	29,500
EBIT ¹	9,904	9,575	16,018	20,919	18,911	16,113	18,200	18,500
Operating Margin	9.01%	8.5%	8.97%	5.86%	6.03%	5.19%	5.8%	5.87%
Earnings before Tax (EBT)	10,204	9,658	15,657	27,882	16,942	15,646	-	-
Net income ¹	5,689	4,846	8,725	16,393	9,663	9,125	12,000	12,200
Net margin	5.18%	4.3%	4.89%	4.59%	3.08%	2.94%	3.82%	3.87%
EPS ²	140.3	119.5	215.1	404.2	238.3	177.2	187.8	190.9
Free Cash Flow	5,148	34	-91,502	8,406	7,375	-131	-	-
FCF margin	4.68%	0.03%	-51.27%	2.35%	2.35%	-0.04%	-	-
FCF Conversion (EBITDA)	42.1%	0.28%	-	25.59%	24.79%	-	-	-
FCF Conversion (Net income)	90.49%	0.7%	-	51.28%	76.32%	-	-	-
Dividend per Share ²	30.00	30.00	35.00	35.00	40.00	40.00	40.00	40.00
Announcement Date	3/25/19	3/23/20	3/29/21	4/11/22	4/14/23	4/12/24	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: February	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
Net sales ¹	56,437	64,968	83,231	161,479	84,230	111,481	79,477	80,440	159,917	77,107	76,463	78,192	80,079	158,271	77,354
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	5,217	7,653	6,789	11,329	5,334	4,256	5,868	5,985	11,853	3,809	3,249	4,204	4,672	8,876	3,331
Operating Margin	9.24%	11.78%	8.16%	7.02%	6.33%	3.82%	7.38%	7.44%	7.41%	4.94%	4.25%	5.38%	5.83%	5.61%	4.31%
Earnings before Tax (EBT) ¹	5,496	7,898	-	22,497	5,485	-	6,614	-	12,491	3,881	-	7,115	-	11,897	3,374
Net income ¹	2,900	4,724	11,367	13,943	3,036	-586	3,933	3,467	7,400	1,960	303	4,392	2,618	7,010	2,009
Net margin	5.14%	7.27%	13.66%	8.63%	3.6%	-0.53%	4.95%	4.31%	4.63%	2.54%	0.4%	5.62%	3.27%	4.43%	2.6%
EPS ²	71.53	116.5	-	343.8	74.86	-	96.98	-	182.5	48.32	-	108.3	-	172.8	15.68
Dividend per Share	15.00	15.00	-	15.00	-	-	-	-	20.00	-	-	-	-	20.00	-
Announcement Date	9/17/19	9/14/20	9/21/21	9/21/21	12/21/21	4/11/22	7/4/22	10/3/22	10/3/22	1/13/23	4/14/23	7/11/23	10/6/23	10/6/23	1/12/24

¹JPY in Million²JPY

Estimates

Balance Sheet Analysis

Fiscal Period: February	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	148,586	142,939	137,954	111,400	102,800	94,100
Net Cash position ¹	16,344	14,317	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	7.151 x	4.351 x	4.636 x	4.126 x	3.497 x	3.19 x
Free Cash Flow	5,148	34	-91,502	8,406	7,375	-131	-	-
ROE (net income / shareholders' equity)	8.3%	6.7%	11.3%	18.4%	9.6%	8.2%	10.6%	9.98%
ROA (Net income/ Total Assets)	11.3%	10.3%	7.39%	4.52%	5.23%	4.66%	-	-
Assets ¹	50,203	47,247	118,090	362,573	184,858	195,941	-	-
Book Value Per Share ²	1,738	1,815	2,005	2,387	2,591	1,866	1,888	2,030
Cash Flow per Share	198.0	185.0	333.0	698.0	506.0	386.0	-	-
Capex	5,238	7,134	7,813	43,509	12,664	16,925	-	-
Capex / Sales	4.77%	6.33%	4.38%	12.18%	4.04%	5.45%	-	-
Announcement Date	3/25/19	3/23/20	3/29/21	4/11/22	4/14/23	4/12/24	-	-

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 Arclands Corporation

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

1,931 JPY

Average target price

1,600 JPY

Spread / Average Target

-17.14%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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