Financials Frontier Real Estate Investment Corporation

Equities

8964

JP3046200006

Commercial REITs

Delayed Japan Exchange 02:00:00 2024-04-26 am EDT 5-day change 1st Jan Change
457,000 JPY +0.22% Intraday chart for Frontier Real Estate Investment Corporation -0.11% +5.54%

Valuation

Fiscal Period: December 2019 2020 2021 2024 2025
Capitalization 1 236,924 203,796 268,877 247,237 -
Enterprise Value (EV) 1 236,924 203,796 373,937 247,237 247,237
P/E ratio - - 23.5 x - -
Yield - - 4.26% - -
Capitalization / Revenue - - 12,445,128 x - -
EV / Revenue - - 12,445,133 x - -
EV / EBITDA - - 17,428,892 x - -
EV / FCF - - - - -
FCF Yield - - - - -
Price to Book 1.5 x 1.28 x 1.6 x 1.42 x 1.42 x
Nbr of stocks (in thousands) 519 511 541 541 -
Reference price 2 456,500 399,000 497,000 457,000 457,000
Announcement Date 8/15/19 8/17/20 8/17/21 - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 20,590 21,054 21,453 22,156 22,925 22,563
EBITDA 1 15,024 15,521 15,420 16,169 16,723 16,228
EBIT 1 10,864 11,590 11,377 11,999 12,556 12,427
Operating Margin 52.76% 55.05% 53.03% 54.16% 54.77% 55.08%
Earnings before Tax (EBT) 1 10,156 10,131 10,836 11,425 11,960 11,850
Net income 1 10,155 10,131 10,835 11,424 11,959 11,849
Net margin 49.32% 48.12% 50.51% 51.56% 52.17% 52.52%
EPS 2 20,474 20,125 21,112 21,728 22,109 21,902
Free Cash Flow 1 10,497 10,781 10,531 11,602 9,937 11,605
FCF margin 50.98% 51.21% 49.09% 52.36% 43.34% 51.43%
FCF Conversion (EBITDA) 69.86% 69.46% 68.29% 71.75% 59.42% 71.51%
FCF Conversion (Net income) 103.36% 106.42% 97.19% 101.55% 83.09% 97.94%
Dividend per Share 2 20,340 20,772 21,292 21,195 22,089 22,231
Announcement Date 3/27/19 3/30/20 3/30/21 3/30/22 10/14/22 3/28/24
1JPY in Million2JPY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2 2025 S1 2025 S2 2026 S1 2026 S2
Net sales 1 10,506 10,603 10,850 10,755 11,402 11,523 11,432 11,531 11,033 12,120 12,260 11,580 11,617 11,684
EBITDA 1 7,703 7,777 7,640 7,787 - 8,344 8,299 8,312 - 8,161 8,064 8,071 - -
EBIT 1 5,778 5,770 5,606 5,743 6,256 6,300 6,343 6,417 6,011 6,669 6,841 6,197 6,238 6,272
Operating Margin 54.99% 54.42% 51.67% 53.4% 54.87% 54.67% 55.49% 55.65% 54.48% 55.02% 55.8% 53.51% 53.7% 53.68%
Earnings before Tax (EBT) 1 5,464 5,500 5,337 5,490 5,937 6,024 6,051 6,147 5,704 6,329 6,481 5,816 5,840 5,864
Net income 1 5,463 5,499 5,336 5,489 5,936 6,023 6,050 6,146 5,703 6,329 6,481 5,816 5,839 5,864
Net margin 52% 51.86% 49.18% 51.04% 52.06% 52.27% 52.92% 53.3% 51.7% 52.22% 52.86% 50.22% 50.26% 50.19%
EPS 2 10,696 10,664 10,447 10,747 10,976 11,132 11,182 11,360 10,542 11,700 11,980 10,750 10,793 10,839
Dividend per Share 2 10,526 10,766 10,448 10,747 10,972 11,117 11,122 11,109 10,549 10,880 11,000 10,750 10,793 10,839
Announcement Date 2/14/20 8/17/20 2/15/21 8/17/21 2/15/22 8/15/22 2/15/23 8/15/23 2/15/24 - - - - -
1JPY in Million2JPY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2024 2025
Net Debt - - 105,060 - -
Net Cash position - - - - -
Leverage (Debt/EBITDA) - - 6.81 x - -
Free Cash Flow - - - - -
ROE (net income / shareholders' equity) - - 6.8% - -
ROA (Net income/ Total Assets) - - 3.5% - -
Assets - - 309,277 - -
Book Value Per Share 1 305,336 311,514 311,495 322,487 322,398
Cash Flow per Share - - 30,263 - -
Capex - - - - -
Capex / Sales - - - - -
Announcement Date 8/15/19 8/17/20 8/17/21 - -
1JPY
Estimates
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  4. Financials Frontier Real Estate Investment Corporation