Financials Rakuten Bank, Ltd.

Equities

5838

JP3967220009

Banks

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-05-08 am EDT			5-day change	1st Jan Change
3,290 ^JPY	-1.50%		+2.65%	+55.78%

Apr. 11	East Japan Railway to Launch Online Banking Service	MT
Apr. 03	Rakuten Group Consolidating Financial Units in Reorganization Exercise	MT

Valuation

Fiscal Period: March	2024	2025	2026
Capitalization ¹	574,047	-	-
Enterprise Value (EV) ¹	574,047	574,047	574,047
P/E ratio	16.7 x	13.7 x	11.8 x
Yield	-	-	-
Capitalization / Revenue	5.09 x	4.33 x	3.86 x
EV / Revenue	5.09 x	4.33 x	3.86 x
EV / EBITDA	-	-	-
EV / FCF	-	-	-
FCF Yield	-	-	-
Price to Book	2.2 x	1.89 x	1.63 x
Nbr of stocks (in thousands)	174,482	-	-
Reference price ²	3,290	3,290	3,290
Announcement Date	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2022	2023	2024	2025	2026
Net sales ¹	-	120,445	112,693	132,499	148,546
EBITDA	-	-	-	-	-
EBIT ¹	-	-	48,292	58,811	70,954
Operating Margin	-	-	42.85%	44.39%	47.77%
Earnings before Tax (EBT) ¹	-	38,746	47,677	61,748	71,716
Net income ¹	20,039	27,692	34,001	41,583	48,382
Net margin	-	22.99%	30.17%	31.38%	32.57%
EPS ²	121.8	168.4	196.9	239.8	278.9
Free Cash Flow	-	-	-	-	-
FCF margin	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-
Dividend per Share ²	-	-	-	-	-
Announcement Date	3/22/23	5/10/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2023 S1	2024 Q1	2024 Q2	2024 S1	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3
Net sales ¹	-	32,635	33,286	65,921	35,155	26,086	27,010	27,096	28,600
EBITDA	-	-	-	-	-	-	-	-	-
EBIT ¹	-	-	12,064	-	13,559	11,734	13,874	13,091	13,689
Operating Margin	-	-	36.24%	-	38.57%	44.98%	51.37%	48.31%	47.86%
Earnings before Tax (EBT)	-	11,368	-	22,544	12,671	-	-	-	-
Net income ¹	-	8,087	8,010	16,097	8,980	8,444	9,773	9,233	9,645
Net margin	-	24.78%	24.06%	24.42%	25.54%	32.37%	36.18%	34.07%	33.72%
EPS ²	-	47.37	45.89	93.26	51.49	51.20	57.63	54.86	57.64
Dividend per Share	-	-	-	-	-	-	-	-	-
Announcement Date	-	8/8/23	11/7/23	11/7/23	2/13/24	-	-	-	-

¹JPY in Million²JPY

Estimates

Balance Sheet Analysis

Fiscal Period: March	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-
Net Cash position	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-
Free Cash Flow	-	-	-	-	-
ROE (net income / shareholders' equity)	-	13.8%	14.5%	15.2%	15.1%
ROA (Net income/ Total Assets)	-	-	0.33%	0.34%	0.35%
Assets ¹	-	-	10,372,463	12,357,563	13,922,803
Book Value Per Share ²	-	1,295	1,498	1,740	2,018
Cash Flow per Share	-	-	-	-	-
Capex	-	-	-	-	-
Capex / Sales	-	-	-	-	-
Announcement Date	3/22/23	5/10/23	-	-	-

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 Rakuten Bank, Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

3,290 JPY

Average target price

3,414 JPY

Spread / Average Target

+3.76%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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