Financials Inter Action Corporation

Equities

7725

JP3152720003

Semiconductor Equipment & Testing

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-04-26 am EDT			5-day change	1st Jan Change
1,524 ^JPY	+0.40%		-4.03%	+40.72%

Apr. 16	Inter Action's Nine-Month Attributable Profit Falls 32% on Lower Internet of Things Sales	MT
Apr. 12	Inter Action Corporation Provides Consolidated Earnings Guidance for the Year Ending May 31, 2024	CI

Valuation

Fiscal Period: May	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	14,880	24,148	25,653	23,508	15,400	16,600	-	-
Enterprise Value (EV) ¹	11,134	20,048	19,466	17,559	9,400	16,600	16,600	16,600
P/E ratio	9.54 x	24 x	22.1 x	31.1 x	15.8 x	15.1 x	15.3 x	13.2 x
Yield	1.34%	0.81%	0.86%	0.92%	1.76%	2.3%	2.3%	2.3%
Capitalization / Revenue	1.86 x	3.41 x	3.87 x	3.91 x	2.25 x	2.13 x	2 x	1.84 x
EV / Revenue	1.86 x	3.41 x	3.87 x	3.91 x	2.25 x	2.13 x	2 x	1.84 x
EV / EBITDA	6,917,849 x	13,828,662 x	13,211,130 x	17,670,360 x	9,451,149 x	-	-	-
EV / FCF	18,438,613 x	24,515,733 x	11,238,264 x	78,826,119 x	51,601,944 x	-	-	-
FCF Yield	0%	0%	0%	0%	0%	-	-	-
Price to Book	2.04 x	3.07 x	2.84 x	2.52 x	1.52 x	-	-	-
Nbr of stocks (in thousands)	11,047	10,932	10,996	10,863	10,837	10,892	-	-
Reference price ²	1,347	2,209	2,333	2,164	1,421	1,524	1,524	1,524
Announcement Date	7/12/19	7/13/20	7/12/21	7/12/22	7/12/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: May	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	7,986	7,083	6,627	6,017	6,857	7,800	8,300	9,000
EBITDA	2,151	1,746	1,942	1,330	1,629	-	-	-
EBIT ¹	1,980	1,555	1,751	1,130	1,449	1,550	1,667	1,923
Operating Margin	24.79%	21.95%	26.42%	18.79%	21.13%	19.87%	20.08%	21.37%
Earnings before Tax (EBT) ¹	1,936	1,467	1,740	1,189	1,504	1,600	2,400	2,750
Net income ¹	1,386	1,004	1,159	761.1	981.1	1,100	1,087	1,259
Net margin	17.36%	14.17%	17.49%	12.65%	14.31%	14.1%	13.1%	13.99%
EPS ²	141.1	91.94	105.6	69.58	90.12	101.0	99.80	115.6
Free Cash Flow	807	985	2,283	298.2	298.4	-	-	-
FCF margin	10.11%	13.91%	34.44%	4.96%	4.35%	-	-	-
FCF Conversion (EBITDA)	37.52%	56.41%	117.55%	22.42%	18.32%	-	-	-
FCF Conversion (Net income)	58.23%	98.11%	196.95%	39.18%	30.42%	-	-	-
Dividend per Share ²	18.00	18.00	20.00	20.00	25.00	35.00	35.00	35.00
Announcement Date	7/12/19	7/13/20	7/12/21	7/12/22	7/12/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: May	2020 S1	2020 S2	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
Net sales ¹	3,826	3,257	3,379	3,248	1,279	3,000	1,132	1,886	3,018	1,908	1,125	3,033	2,062	1,763	3,824	1,740	1,239	2,979	1,902	2,920	4,821
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	915	640	877	874	165	594.4	147.1	389	536.1	476.3	138.3	614.6	589.8	244.3	834.1	211.2	182	393.2	351.8	805	1,157
Operating Margin	23.92%	19.65%	25.95%	26.91%	12.9%	19.82%	13%	20.62%	17.76%	24.96%	12.3%	20.27%	28.61%	13.86%	21.81%	12.14%	14.69%	13.2%	18.5%	27.57%	24%
Earnings before Tax (EBT) ¹	916	551	874	866	171.7	606.6	155.4	427.3	582.7	520	-	660	590.9	252.4	843.9	239.5	199.2	438.7	378.2	783	1,161
Net income ¹	605	399	586	573	100	386.3	96.02	278.8	374.8	351.8	77.21	429	382.4	169.7	552.1	150.6	119.1	269.6	279.7	551	831
Net margin	15.81%	12.25%	17.34%	17.64%	7.82%	12.88%	8.49%	14.78%	12.42%	18.44%	6.86%	14.15%	18.55%	9.63%	14.44%	8.65%	9.61%	9.05%	14.71%	18.87%	17.24%
EPS	55.45	-	53.50	52.11	-	35.19	8.800	25.59	34.39	32.38	7.040	39.42	35.08	15.62	50.70	13.90	10.93	24.83	25.71	-	-
Dividend per Share ²	-	-	-	20.00	-	-	-	20.00	20.00	-	-	-	-	25.00	25.00	-	10.00	10.00	-	25.00	25.00
Announcement Date	1/10/20	7/13/20	1/12/21	7/12/21	1/12/22	1/12/22	4/11/22	7/12/22	7/12/22	10/12/22	1/12/23	1/12/23	4/11/23	7/12/23	7/12/23	10/12/23	1/12/24	1/12/24	4/12/24	-	-

¹JPY in Million²JPY

Estimates

Balance Sheet Analysis

Fiscal Period: May	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	3,746	4,100	6,187	5,949	6,000	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	807	985	2,283	298	298	-	-	-
ROE (net income / shareholders' equity)	25.2%	13.2%	13.7%	8.3%	10.1%	6.4%	-	-
ROA (Net income/ Total Assets)	22.9%	15.2%	16.2%	10.4%	12.5%	-	-	-
Assets ¹	6,058	6,626	7,151	7,349	7,880	-	-	-
Book Value Per Share	661.0	720.0	822.0	860.0	935.0	-	-	-
Cash Flow per Share	153.0	105.0	118.0	83.40	102.0	-	-	-
Capex ¹	124	179	119	114	141	120	120	120
Capex / Sales	1.55%	2.53%	1.8%	1.9%	2.06%	1.54%	1.45%	1.33%
Announcement Date	7/12/19	7/13/20	7/12/21	7/12/22	7/12/23	-	-	-

¹JPY in Million

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Inter Action Corporation

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

1,524 JPY

Average target price

1,550 JPY

Spread / Average Target

+1.71%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Semiconductor Testing Equipment & Service

	1st Jan change	Capi.
INTER ACTION CORPORATION	+40.72%	105M
KLA CORPORATION	+21.50%	95.51B
ADVANTEST CORPORATION	+12.34%	25.27B
LASERTEC CORPORATION	-8.31%	19.53B
TONGFU MICROELECTRONICS CO.,LTD	-8.65%	4.41B
KING YUAN ELECTRONICS CO., LTD.	+12.49%	3.58B
TIANSHUI HUATIAN TECHNOLOGY CO., LTD.	-7.63%	3.48B
HANGZHOU CHANGCHUAN TECHNOLOGY CO.,LTD	-22.90%	2.53B
ISC CO., LTD.	-0.12%	1.19B
ARDENTEC CORPORATION	+4.73%	1.13B

Semiconductor Testing Equipment & Service