Financials BEAUTY GARAGE Inc.

Equities

3180

JP3800480000

Other Specialty Retailers

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-04-26 am EDT			5-day change	1st Jan Change
1,926 ^JPY	-1.63%		-0.41%	-12.73%

2023	BEAUTY GARAGE Inc.(TSE:3180) added to S&P Global BMI Index	CI
2023	Qian, Miaoling entered into a contract to acquire remaining 65% stake in Beauty Garage Taiwan Inc. from BEAUTY GARAGE Inc..	CI

Valuation

Fiscal Period: April	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	9,002	9,591	22,963	17,536	23,338	24,365	-	-
Enterprise Value (EV) ¹	7,312	8,106	21,717	16,093	21,193	21,934	23,734	22,834
P/E ratio	23.6 x	23.6 x	35.1 x	24.7 x	27 x	22.2 x	17.2 x	14.9 x
Yield	0.64%	0.66%	0.38%	0.58%	0.54%	0.62%	0.74%	0.87%
Capitalization / Revenue	0.65 x	0.61 x	1.17 x	0.75 x	0.88 x	0.81 x	0.7 x	0.62 x
EV / Revenue	0.53 x	0.52 x	1.11 x	0.69 x	0.8 x	0.73 x	0.69 x	0.58 x
EV / EBITDA	-	-	20.2 x	12.3 x	12.7 x	12.1 x	10.5 x	9.42 x
EV / FCF	36.7 x	-2,027 x	92 x	58.9 x	26.5 x	26.9 x	247 x	32.1 x
FCF Yield	2.72%	-0.05%	1.09%	1.7%	3.78%	3.71%	0.4%	3.12%
Price to Book	2.4 x	2.41 x	5.02 x	3.33 x	3.87 x	3.43 x	2.9 x	2.48 x
Nbr of stocks (in thousands)	12,751	12,629	12,583	12,620	12,632	12,650	-	-
Reference price ²	706.0	759.5	1,825	1,390	1,848	1,926	1,926	1,926
Announcement Date	6/13/19	6/12/20	6/11/21	6/8/22	6/8/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: April	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	13,852	15,730	19,597	23,401	26,429	30,203	34,637	39,403
EBITDA ¹	-	-	1,073	1,305	1,671	1,814	2,254	2,424
EBIT ¹	628	730	1,001	1,202	1,357	1,763	2,207	2,530
Operating Margin	4.53%	4.64%	5.11%	5.14%	5.13%	5.84%	6.37%	6.42%
Earnings before Tax (EBT) ¹	634	714	1,035	1,174	1,304	1,760	2,208	2,522
Net income ¹	380	408	654	709	865	1,097	1,418	1,635
Net margin	2.74%	2.59%	3.34%	3.03%	3.27%	3.63%	4.09%	4.15%
EPS ²	29.90	32.24	52.02	56.32	68.50	86.77	112.2	129.3
Free Cash Flow ¹	199	-4	236.2	273	800.5	814	96	712
FCF margin	1.44%	-0.03%	1.21%	1.17%	3.03%	2.7%	0.28%	1.81%
FCF Conversion (EBITDA)	-	-	22.02%	20.93%	47.92%	44.87%	4.26%	29.37%
FCF Conversion (Net income)	52.37%	-	36.11%	38.5%	92.54%	74.22%	6.77%	43.55%
Dividend per Share ²	4.500	5.000	7.000	8.000	10.00	12.00	14.17	16.83
Announcement Date	6/13/19	6/12/20	6/11/21	6/8/22	6/8/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: April	2020 S1	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	2024 S2	2025 Q1	2025 Q2	2025 S1	2025 Q3	2025 Q4	2025 S2
Net sales ¹	7,711	8,372	11,225	6,099	11,475	5,666	6,260	11,926	6,078	6,566	12,644	6,489	7,296	13,785	7,176	7,165	14,341	7,321	8,293	15,169	7,900	8,200	16,100	8,200	9,210	17,410
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	314	353	647	299	585	199	418	617	256	253	509	325	523	848	384	382	766	404	595	964	427	489	916	528	726	1,254
Operating Margin	4.07%	4.22%	5.76%	4.9%	5.1%	3.51%	6.68%	5.17%	4.21%	3.85%	4.03%	5.01%	7.17%	6.15%	5.35%	5.33%	5.34%	5.52%	7.17%	6.36%	5.41%	5.96%	5.69%	6.44%	7.88%	7.2%
Earnings before Tax (EBT)	300	340	694	260	542	201	-	-	304	-	554	326	-	-	395	-	753	399	-	-	-	-	-	-	-	-
Net income	163	197	453	156	323	103	283	-	199	149	348	192	325	-	260	267	527	247	-	-	-	-	-	-	-	-
Net margin	2.11%	2.35%	4.04%	2.56%	2.81%	1.82%	4.52%	-	3.27%	2.27%	2.75%	2.96%	4.45%	-	3.62%	3.73%	3.67%	3.37%	-	-	-	-	-	-	-	-
EPS	12.90	15.70	36.00	12.32	25.68	8.190	22.45	-	15.81	11.80	27.62	15.16	25.72	-	20.60	21.12	41.72	19.53	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	8.000	-	-	-	-	-	10.00	-	-	6.000	6.000	-	-	-	-	-	-	-	-	-
Announcement Date	12/9/19	12/9/20	6/11/21	12/9/21	12/9/21	3/9/22	6/8/22	6/8/22	9/8/22	12/8/22	12/8/22	3/8/23	6/8/23	6/8/23	9/7/23	12/7/23	12/7/23	3/7/24	-	-	-	-	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: April	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	1,690	1,485	1,246	1,443	2,145	2,431	631	1,531
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	199	-4	236	273	800	814	96	712
ROE (net income / shareholders' equity)	11.2%	10.5%	15.3%	14.4%	15.3%	16.8%	18.8%	17.5%
ROA (Net income/ Total Assets)	10%	10.6%	7.51%	11.8%	12%	9%	10.2%	9.8%
Assets ¹	3,801	3,849	8,711	6,008	7,222	12,185	13,905	16,684
Book Value Per Share ²	294.0	315.0	364.0	418.0	478.0	562.0	665.0	776.0
Cash Flow per Share	39.90	44.70	66.20	72.90	86.60	-	-	-
Capex ¹	408	132	623	253	176	350	1,250	900
Capex / Sales	2.95%	0.84%	3.18%	1.08%	0.67%	1.16%	3.61%	2.28%
Announcement Date	6/13/19	6/12/20	6/11/21	6/8/22	6/8/23	-	-	-

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 BEAUTY GARAGE Inc.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

1,926 JPY

Average target price

3,067 JPY

Spread / Average Target

+59.22%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Beauty Supply Shop

	1st Jan change	Capi.
BEAUTY GARAGE INC.	-12.73%	155M
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OLIVEDA INTERNATIONAL, INC.	+897.50%	2.44B
DOUGLAS AG	0.00%	2.45B
HONASA CONSUMER LIMITED	-2.75%	1.67B
POYA INTERNATIONAL CO., LTD.	-11.87%	1.54B
WALDENCAST PLC	-52.38%	623M
IFAMILYSC CO., LTD.	+99.24%	327M

Beauty Supply Shop