Stock 3970 INNOVATION INC.
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Financials Innovation Inc.

Equities

3970

JP3147900009

Internet Services

Market Closed - Japan Exchange
Other stock markets
 01:38:22 2024-05-02 am EDT 		5-day change 1st Jan Change
1,225 JPY -0.89% Intraday chart for Innovation Inc. +0.33% -4.67%
2023 Innovation Inc. Reports Earnings Results for the Full Year Ended March 31, 2023 CI
2022 Innovation Inc. and Future Co., Ltd acquired additional 14.5% stake in Future Innovation Group, Inc. from Yuji Murai. CI

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023
Capitalization 1 1,516 2,830 7,787 5,135 3,957
Enterprise Value (EV) 1 903.4 2,183 5,790 2,955 1,662
P/E ratio 190 x 31 x 24.8 x 11.5 x 63.3 x
Yield - - - 1.74% 2.45%
Capitalization / Revenue 1.02 x 1.4 x 2.53 x 1.17 x 0.87 x
EV / Revenue 0.61 x 1.08 x 1.88 x 0.67 x 0.36 x
EV / EBITDA 28.2 x 10.7 x 10.4 x 3.59 x 4.11 x
EV / FCF - 10,325,675 x 20,996,787 x 10,008,685 x 22,960,540 x
FCF Yield - 0% 0% 0% 0%
Price to Book 1.75 x 3.03 x 3.1 x 1.72 x 1.25 x
Nbr of stocks (in thousands) 1,964 1,951 2,345 2,356 2,489
Reference price 2 772.0 1,450 3,320 2,180 1,590
Announcement Date 6/24/19 6/24/20 6/25/21 6/24/22 6/28/23
1JPY in Million2JPY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023
Net sales 1 1,487 2,022 3,083 4,380 4,570
EBITDA 1 32 204 555 823 404
EBIT 1 16 175 518 778 343
Operating Margin 1.08% 8.65% 16.8% 17.76% 7.51%
Earnings before Tax (EBT) 1 17 167 482 759 193
Net income 1 8 92 293 448 62
Net margin 0.54% 4.55% 9.5% 10.23% 1.36%
EPS 2 4.073 46.77 133.8 189.3 25.13
Free Cash Flow - 211.4 275.8 295.2 72.38
FCF margin - 10.45% 8.94% 6.74% 1.58%
FCF Conversion (EBITDA) - 103.62% 49.68% 35.87% 17.91%
FCF Conversion (Net income) - 229.76% 94.11% 65.9% 116.73%
Dividend per Share - - - 38.00 39.00
Announcement Date 6/24/19 6/24/20 6/25/21 6/24/22 6/28/23
1JPY in Million2JPY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2020 S1 2021 S1 2022 S1 2022 Q3 2023 Q1 2023 S1 2023 Q3 2024 Q1 2024 S1 2024 Q3
Net sales 1 932 1,361 1,961 1,171 1,112 2,407 989 1,010 2,110 1,265
EBITDA - - - - - - - - - -
EBIT 1 50 184 300 185 151 276 117 88 231 80
Operating Margin 5.36% 13.52% 15.3% 15.8% 13.58% 11.47% 11.83% 8.71% 10.95% 6.32%
Earnings before Tax (EBT) 1 50 184 297 189 153 224 118 90 234 133
Net income 1 22 120 147 114 92 138 84 52 136 72
Net margin 2.36% 8.82% 7.5% 9.74% 8.27% 5.73% 8.49% 5.15% 6.45% 5.69%
EPS 2 11.47 60.33 62.95 48.57 38.44 56.48 34.14 20.60 53.57 27.79
Dividend per Share - - - - - - - - - -
Announcement Date 11/11/19 11/10/20 11/9/21 2/9/22 8/9/22 11/9/22 2/9/23 8/9/23 11/9/23 2/9/24
1JPY in Million2JPY
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023
Net Debt 1 - - - - -
Net Cash position 1 613 647 1,997 2,180 2,295
Leverage (Debt/EBITDA) - - - - -
Free Cash Flow - 211 276 295 72.4
ROE (net income / shareholders' equity) - 10.2% 17.5% 17% 0.77%
ROA (Net income/ Total Assets) - 8.98% 14.5% 14.1% 5.67%
Assets 1 - 1,024 2,017 3,181 1,094
Book Value Per Share 2 442.0 479.0 1,072 1,265 1,271
Cash Flow per Share 2 337.0 341.0 851.0 925.0 922.0
Capex 1 4 5 12 1 5
Capex / Sales 0.27% 0.25% 0.39% 0.02% 0.11%
Announcement Date 6/24/19 6/24/20 6/25/21 6/24/22 6/28/23
1JPY in Million2JPY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Quarterly earnings - Rate of surprise

Company calendar

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