ROUND ONE CORPORATION |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 697 JPY | +0.14% |
|
-1.27% | +24.91% |
| Apr. 05 | Jefferies Adjusts Round One’s Price Target to 890 Yen From 840 Yen, Keeps at Buy | MT |
| Apr. 04 | Round One Corporation Reports Sales Results for the Month and Year to Date Ended March 2024 | CI |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 133,462 | 53,536 | 110,431 | 128,860 | 145,395 | 187,972 | - | - |
| Enterprise Value (EV) 1 | 124,453 | 64,660 | 149,745 | 153,063 | 199,245 | 215,841 | 203,799 | 186,371 |
| P/E ratio | 18.6 x | 11.2 x | -6.16 x | 32.2 x | 15 x | 13.1 x | 11.1 x | 9.28 x |
| Yield | 1.43% | 3.56% | 1.61% | 1.48% | 1.57% | 1.72% | 1.79% | 1.84% |
| Capitalization / Revenue | 1.32 x | 0.51 x | 1.81 x | 1.34 x | 1.02 x | 1.2 x | 1.12 x | 1.02 x |
| EV / Revenue | 1.23 x | 0.62 x | 2.46 x | 1.59 x | 1.4 x | 1.38 x | 1.21 x | 1.01 x |
| EV / EBITDA | 5.2 x | 2.8 x | -39.9 x | 10.4 x | 5.42 x | 4.92 x | 4.46 x | 3.58 x |
| EV / FCF | -30.3 x | 7.63 x | -5.41 x | 7.72 x | 8.33 x | 7.85 x | 9.22 x | 7.16 x |
| FCF Yield | -3.3% | 13.1% | -18.5% | 13% | 12% | 12.7% | 10.8% | 14% |
| Price to Book | 2.14 x | 0.82 x | 2.71 x | 2.37 x | 2.35 x | 2.97 x | 2.45 x | 1.92 x |
| Nbr of stocks (in thousands) | 285,786 | 285,779 | 266,100 | 286,355 | 284,529 | 269,687 | - | - |
| Reference price 2 | 467.0 | 187.3 | 415.0 | 450.0 | 511.0 | 697.0 | 697.0 | 697.0 |
| Announcement Date | 5/8/19 | 5/11/20 | 5/12/21 | 5/11/22 | 5/9/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 101,318 | 104,779 | 60,967 | 96,421 | 142,051 | 156,873 | 168,278 | 184,878 |
| EBITDA 1 | 23,920 | 23,121 | -3,757 | 14,719 | 36,744 | 43,899 | 45,745 | 52,109 |
| EBIT 1 | 11,443 | 8,880 | -19,286 | -1,726 | 16,921 | 22,399 | 24,796 | 30,331 |
| Operating Margin | 11.29% | 8.47% | -31.63% | -1.79% | 11.91% | 14.28% | 14.74% | 16.41% |
| Earnings before Tax (EBT) 1 | 10,089 | 7,168 | -21,829 | 4,272 | 15,038 | 21,776 | 22,790 | 28,609 |
| Net income 1 | 7,159 | 4,794 | -17,973 | 3,937 | 9,737 | 13,920 | 16,926 | 20,226 |
| Net margin | 7.07% | 4.58% | -29.48% | 4.08% | 6.85% | 8.87% | 10.06% | 10.94% |
| EPS 2 | 25.05 | 16.78 | -67.40 | 14.00 | 34.03 | 53.10 | 62.81 | 75.07 |
| Free Cash Flow 1 | -4,110 | 8,477 | -27,667 | 19,831 | 23,919 | 27,502 | 22,107 | 26,042 |
| FCF margin | -4.06% | 8.09% | -45.38% | 20.57% | 16.84% | 17.53% | 13.14% | 14.09% |
| FCF Conversion (EBITDA) | - | 36.66% | - | 134.73% | 65.1% | 62.65% | 48.33% | 49.98% |
| FCF Conversion (Net income) | - | 176.83% | - | 503.71% | 245.65% | 197.57% | 130.61% | 128.75% |
| Dividend per Share 2 | 6.667 | 6.667 | 6.667 | 6.667 | 8.000 | 12.00 | 12.50 | 12.83 |
| Announcement Date | 5/8/19 | 5/11/20 | 5/12/21 | 5/11/22 | 5/9/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 53,188 | 51,591 | 23,263 | 37,704 | 23,102 | 41,345 | 25,233 | 29,843 | 55,076 | 30,912 | 36,575 | 67,487 | 33,897 | 40,667 | 74,564 | 35,951 | 40,879 | 76,830 | 36,563 | 45,141 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 5,813 | 3,067 | -14,311 | -4,975 | -1,102 | -4,674 | -41 | 2,989 | 2,948 | 2,359 | 4,570 | 6,929 | 1,970 | 8,022 | 9,992 | 3,884 | 6,593 | 10,477 | 2,877 | 10,120 |
| Operating Margin | 10.93% | 5.94% | -61.52% | -13.19% | -4.77% | -11.3% | -0.16% | 10.02% | 5.35% | 7.63% | 12.49% | 10.27% | 5.81% | 19.73% | 13.4% | 10.8% | 16.13% | 13.64% | 7.87% | 22.42% |
| Earnings before Tax (EBT) 1 | 5,403 | - | -14,372 | - | 1,935 | -1,667 | 2,552 | 3,387 | - | 2,553 | 4,530 | 7,083 | 1,394 | 6,561 | - | 3,785 | 7,328 | 11,113 | 2,626 | 8,104 |
| Net income 1 | 3,705 | 1,089 | -11,194 | -6,779 | 1,807 | -2,118 | 3,215 | 2,840 | 6,055 | 2,025 | 3,216 | 5,241 | 871 | 3,625 | 4,496 | 2,613 | 5,176 | 7,789 | 1,752 | 5,000 |
| Net margin | 6.97% | 2.11% | -48.12% | -17.98% | 7.82% | -5.12% | 12.74% | 9.52% | 10.99% | 6.55% | 8.79% | 7.77% | 2.57% | 8.91% | 6.03% | 7.27% | 12.66% | 10.14% | 4.79% | 11.08% |
| EPS 2 | 12.97 | 3.810 | -41.89 | - | - | -7.667 | 11.59 | - | - | 7.073 | - | 18.29 | 3.020 | - | - | 9.590 | - | 28.76 | 6.530 | 19.40 |
| Dividend per Share 2 | 3.333 | - | 3.333 | - | - | 3.333 | - | - | - | - | - | 4.000 | - | - | - | 2.500 | - | 5.000 | 3.500 | 3.500 |
| Announcement Date | 11/8/19 | 5/11/20 | 11/6/20 | 5/12/21 | 11/5/21 | 11/5/21 | 2/10/22 | 5/11/22 | 5/11/22 | 8/5/22 | 11/11/22 | 11/11/22 | 2/10/23 | 5/9/23 | 5/9/23 | 8/7/23 | 11/10/23 | 11/10/23 | 2/9/24 | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | 11,124 | 39,314 | 24,203 | 53,850 | 27,868 | 15,826 | - |
| Net Cash position 1 | 9,009 | - | - | - | - | - | - | 1,602 |
| Leverage (Debt/EBITDA) | - | 0.4811 x | -10.46 x | 1.644 x | 1.466 x | 0.6348 x | 0.346 x | - |
| Free Cash Flow 1 | -4,110 | 8,477 | -27,667 | 19,831 | 23,919 | 27,502 | 22,107 | 26,042 |
| ROE (net income / shareholders' equity) | 12% | 7.5% | -34% | 8.3% | 16.9% | 22.4% | 22% | 21.9% |
| ROA (Net income/ Total Assets) | 10% | 6.89% | -13.8% | 3.48% | 10.2% | 9.37% | 10.1% | 10.2% |
| Assets 1 | 71,540 | 69,589 | 129,921 | 113,216 | 95,772 | 148,614 | 168,134 | 199,276 |
| Book Value Per Share 2 | 219.0 | 227.0 | 153.0 | 190.0 | 217.0 | 235.0 | 285.0 | 363.0 |
| Cash Flow per Share 2 | 68.70 | 66.60 | -9.160 | 72.50 | 103.0 | 114.0 | 133.0 | 145.0 |
| Capex 1 | 10,892 | 23,796 | 20,139 | 21,029 | 26,461 | 8,126 | 16,921 | 16,394 |
| Capex / Sales | 10.75% | 22.71% | 33.03% | 21.81% | 18.63% | 5.18% | 10.06% | 8.87% |
| Announcement Date | 5/8/19 | 5/11/20 | 5/12/21 | 5/11/22 | 5/9/23 | - | - | - |
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
Trading Rating
Investor Rating
ESG Refinitiv
C-
Sell
Buy
Mean consensus
BUY
Number of Analysts
7
Last Close Price
697
JPY
Average target price
1,036
JPY
Spread / Average Target
+48.60%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +24.91% | 1.19B | |
| -4.45% | 3.66B | |
| -21.15% | 2.65B | |
| -17.30% | 1.75B | |
| -18.25% | 1.16B | |
| +17.10% | 1.08B | |
| +42.33% | 924M | |
| -5.97% | 891M | |
| +5.46% | 787M | |
| +25.09% | 767M |
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- Financials Round One Corporation
