SYSTEM SUPPORT INC. |
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,852 JPY | -2.83% |
|
+0.22% | -3.89% |
| Apr. 25 | Drax on track to meet expectations after powerful first quarter | AN |
| Apr. 22 | System Support's Unit to Acquire US-based MultiNet International | MT |
Valuation
| Fiscal Period: June | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 8,333 | 21,216 | 14,382 | 12,057 | 22,078 | 19,737 | - | - |
| Enterprise Value (EV) 1 | 7,663 | 21,216 | 12,686 | 10,011 | 19,716 | 19,737 | 19,737 | 19,737 |
| P/E ratio | 23.5 x | 47.5 x | 21.2 x | 15.3 x | 21.9 x | 15.8 x | 13.6 x | 11.6 x |
| Yield | 0.18% | 0.47% | 1.51% | 2.15% | 1.5% | 1.89% | 2.31% | 2.73% |
| Capitalization / Revenue | 0.71 x | 1.59 x | 1 x | 0.74 x | 1.15 x | 0.9 x | 0.79 x | 0.69 x |
| EV / Revenue | 0.71 x | 1.59 x | 1 x | 0.74 x | 1.15 x | 0.9 x | 0.79 x | 0.69 x |
| EV / EBITDA | - | - | - | - | - | - | - | - |
| EV / FCF | -245 x | - | - | 12.9 x | 24.5 x | 20.5 x | 16.9 x | 14.3 x |
| FCF Yield | -0.41% | - | - | 7.75% | 4.08% | 4.89% | 5.9% | 7.02% |
| Price to Book | 4.21 x | 8.89 x | 4.81 x | 3.53 x | 5.35 x | 3.95 x | 3.29 x | 2.76 x |
| Nbr of stocks (in thousands) | 10,070 | 9,970 | 10,347 | 10,349 | 10,356 | 10,355 | - | - |
| Reference price 2 | 827.5 | 2,128 | 1,390 | 1,165 | 2,132 | 1,906 | 1,906 | 1,906 |
| Announcement Date | 8/13/19 | 8/12/20 | 8/10/21 | 8/10/22 | 8/9/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: June | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 11,762 | 13,376 | 14,431 | 16,198 | 19,267 | 22,000 | 24,900 | 28,400 |
| EBITDA | - | - | - | - | - | - | - | - |
| EBIT 1 | 529 | 754 | 931 | 1,196 | 1,456 | 1,850 | 2,150 | 2,550 |
| Operating Margin | 4.5% | 5.64% | 6.45% | 7.38% | 7.56% | 8.41% | 8.63% | 8.98% |
| Earnings before Tax (EBT) | 501 | 657 | 930 | 1,176 | 1,430 | - | - | - |
| Net income 1 | 345 | 450 | 674 | 785 | 1,009 | 1,250 | 1,450 | 1,700 |
| Net margin | 2.93% | 3.36% | 4.67% | 4.85% | 5.24% | 5.68% | 5.82% | 5.99% |
| EPS 2 | 35.20 | 44.82 | 65.45 | 75.91 | 97.52 | 120.8 | 140.0 | 164.2 |
| Free Cash Flow 1 | -34 | - | - | 934 | 900.5 | 965 | 1,165 | 1,385 |
| FCF margin | -0.29% | - | - | 5.77% | 4.67% | 4.39% | 4.68% | 4.88% |
| FCF Conversion (EBITDA) | - | - | - | - | - | - | - | - |
| FCF Conversion (Net income) | - | - | - | 118.98% | 89.25% | 77.2% | 80.34% | 81.47% |
| Dividend per Share 2 | 1.500 | 10.00 | 21.00 | 25.00 | 32.00 | 36.00 | 44.00 | 52.00 |
| Announcement Date | 8/13/19 | 8/12/20 | 8/10/21 | 8/10/22 | 8/9/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: June | 2020 S1 | 2021 S1 | 2022 Q1 | 2022 S1 | 2022 Q3 | 2023 Q1 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 6,573 | 6,917 | 3,721 | 7,790 | 4,146 | 4,404 | 9,211 | 4,981 | 5,075 | 5,034 | 5,601 | 10,635 | 5,574 | 5,790 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 406 | 508 | 241 | 587 | 446 | 304 | 743 | 440 | 273 | 399 | - | 883 | 566 | 400 |
| Operating Margin | 6.18% | 7.34% | 6.48% | 7.54% | 10.76% | 6.9% | 8.07% | 8.83% | 5.38% | 7.93% | - | 8.3% | 10.15% | 6.91% |
| Earnings before Tax (EBT) | 369 | 517 | 248 | 592 | 434 | 309 | 757 | 437 | - | 427 | - | 922 | - | - |
| Net income 1 | 239 | 344 | 162 | 393 | 292 | 205 | 508 | 293 | 208 | 282 | - | 614 | 365 | 270 |
| Net margin | 3.64% | 4.97% | 4.35% | 5.04% | 7.04% | 4.65% | 5.52% | 5.88% | 4.1% | 5.6% | - | 5.77% | 6.55% | 4.66% |
| EPS | 23.80 | 33.49 | 15.69 | 37.97 | 28.28 | 19.89 | 49.11 | 28.29 | - | 27.32 | - | 59.37 | - | - |
| Dividend per Share | - | - | - | 12.00 | - | - | 15.00 | - | - | - | - | 18.00 | - | - |
| Announcement Date | 2/12/20 | 2/10/21 | 11/10/21 | 2/9/22 | 5/11/22 | 11/9/22 | 2/9/23 | 5/10/23 | 8/9/23 | 11/8/23 | 2/7/24 | 2/7/24 | - | - |
1JPY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: June | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt | - | - | - | - | - | - | - | - |
| Net Cash position | 670 | - | 1,696 | 2,046 | 2,362 | - | - | - |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | -34 | - | - | 934 | 901 | 965 | 1,165 | 1,385 |
| ROE (net income / shareholders' equity) | 27.2% | 20.5% | 25% | 24.5% | 26.8% | - | - | - |
| ROA (Net income/ Total Assets) | 10.6% | 12.6% | 15.1% | 16.4% | 17.6% | - | - | - |
| Assets 1 | 3,262 | 3,575 | 4,454 | 4,775 | 5,746 | - | - | - |
| Book Value Per Share 2 | 196.0 | 239.0 | 289.0 | 330.0 | 398.0 | 483.0 | 579.0 | 691.0 |
| Cash Flow per Share | 52.90 | 61.50 | 82.30 | 92.90 | 115.0 | - | - | - |
| Capex 1 | 106 | - | 146 | 73 | 165 | 180 | 180 | 180 |
| Capex / Sales | 0.9% | - | 1.01% | 0.45% | 0.86% | 0.82% | 0.72% | 0.63% |
| Announcement Date | 8/13/19 | 8/12/20 | 8/10/21 | 8/10/22 | 8/9/23 | - | - | - |
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
Sell
Buy
Mean consensus
BUY
Number of Analysts
1
Last Close Price
1,906
JPY
Average target price
3,200
JPY
Spread / Average Target
+67.89%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -3.89% | 128M | |
| -11.47% | 195B | |
| +4.65% | 173B | |
| +2.95% | 155B | |
| +5.22% | 100B | |
| +10.32% | 79.97B | |
| +22.42% | 75.6B | |
| -6.99% | 71.69B | |
| -20.06% | 53.13B | |
| -10.45% | 43.19B |
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