Financials Billing System Corporation

Equities

3623

JP3800490009

Business Support Services

Delayed Japan Exchange 02:00:00 2024-04-26 am EDT 5-day change 1st Jan Change
925 JPY 0.00% Intraday chart for Billing System Corporation +0.98% -1.60%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 13,052 7,267 7,490 6,264 9,547 5,912
Enterprise Value (EV) 1 7,827 287.7 -1,302 -8,618 -4,031 -13,664
P/E ratio 75.9 x -303 x 52.7 x 28.3 x 29.6 x 19.7 x
Yield 0.43% 0.77% 0.74% 1% 0.66% 1.28%
Capitalization / Revenue 4.95 x 3.17 x 2.59 x 1.99 x 2.78 x 1.56 x
EV / Revenue 2.97 x 0.13 x -0.45 x -2.74 x -1.17 x -3.61 x
EV / EBITDA 19.4 x 1.89 x -4.88 x -21.7 x -7.53 x -26.3 x
EV / FCF -23.2 x 0.16 x -0.69 x -1.38 x 3.38 x -2.29 x
FCF Yield -4.31% 635% -144% -72.3% 29.5% -43.7%
Price to Book 6.77 x 3.93 x 3.87 x 3.13 x 4.22 x 2.36 x
Nbr of stocks (in thousands) 6,374 6,374 6,374 6,289 6,289 6,289
Reference price 2 2,048 1,140 1,175 996.0 1,518 940.0
Announcement Date 3/26/19 3/26/20 3/25/21 3/24/22 3/23/23 3/26/24
1JPY in Million2JPY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 2,638 2,290 2,887 3,143 3,434 3,782
EBITDA 1 404 152 267 398 535 519
EBIT 1 346 107 228 346 481 466
Operating Margin 13.12% 4.67% 7.9% 11.01% 14.01% 12.32%
Earnings before Tax (EBT) 1 267 35 173 349 479 462
Net income 1 172 -24 142 224 323 300
Net margin 6.52% -1.05% 4.92% 7.13% 9.41% 7.93%
EPS 2 26.98 -3.765 22.28 35.19 51.36 47.70
Free Cash Flow 1 -337.4 1,828 1,880 6,230 -1,191 5,969
FCF margin -12.79% 79.82% 65.1% 198.23% -34.68% 157.83%
FCF Conversion (EBITDA) - 1,202.55% 703.93% 1,565.39% - 1,150.1%
FCF Conversion (Net income) - - 1,323.59% 2,781.36% - 1,989.67%
Dividend per Share 2 8.750 8.750 8.750 10.00 10.00 12.00
Announcement Date 3/26/19 3/26/20 3/25/21 3/24/22 3/23/23 3/26/24
1JPY in Million2JPY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 S1 2021 Q3 2022 Q1 2022 S1 2022 Q3 2023 Q1 2023 S1 2023 Q3
Net sales 1 1,379 1,608 724 796 1,596 758 853 1,824 920
EBITDA - - - - - - - - -
EBIT 1 88 191 35 138 237 91 100 160 106
Operating Margin 6.38% 11.88% 4.83% 17.34% 14.85% 12.01% 11.72% 8.77% 11.52%
Earnings before Tax (EBT) 1 89 196 35 137 237 90 100 158 106
Net income 1 55 127 21 90 154 58 64 89 67
Net margin 3.99% 7.9% 2.9% 11.31% 9.65% 7.65% 7.5% 4.88% 7.28%
EPS 2 8.700 19.98 3.310 14.31 24.61 9.200 10.26 14.27 10.54
Dividend per Share - - - - - - - - -
Announcement Date 8/13/20 8/12/21 11/11/21 5/12/22 8/10/22 11/11/22 5/12/23 8/10/23 11/13/23
1JPY in Million2JPY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 5,225 6,979 8,792 14,882 13,578 19,576
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 -337 1,828 1,880 6,230 -1,191 5,969
ROE (net income / shareholders' equity) 9.26% -0.87% 7.73% 11.4% 15% 12.7%
ROA (Net income/ Total Assets) 3.39% 0.96% 1.6% 1.66% 1.93% 1.6%
Assets 1 5,075 -2,506 8,871 13,477 16,753 18,775
Book Value Per Share 2 303.0 290.0 304.0 318.0 360.0 398.0
Cash Flow per Share 2 830.0 1,099 1,379 2,366 2,159 3,113
Capex 1 13 9 4 37 5 79
Capex / Sales 0.49% 0.39% 0.14% 1.18% 0.15% 2.09%
Announcement Date 3/26/19 3/26/20 3/25/21 3/24/22 3/23/23 3/26/24
1JPY in Million2JPY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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