Financials Systena Corporation

Equities

2317

JP3351050004

IT Services & Consulting

Delayed Japan Exchange 02:00:00 2024-04-26 am EDT 5-day change 1st Jan Change
261 JPY -0.38% Intraday chart for Systena Corporation +1.95% -14.71%

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 117,245 141,970 214,218 166,966 112,358 101,122 - -
Enterprise Value (EV) 1 104,419 128,595 196,731 146,859 88,875 74,921 71,801 68,404
P/E ratio 25.6 x 26.1 x 43.1 x 27.9 x 15.4 x 14.9 x 13.2 x 12.3 x
Yield 1.33% 1.36% 0.9% 1.39% 2.76% 3.83% 4.02% 4.31%
Capitalization / Revenue 1.96 x 2.2 x 3.52 x 2.56 x 1.51 x 1.29 x 1.21 x 1.15 x
EV / Revenue 1.75 x 1.99 x 3.23 x 2.25 x 1.19 x 0.96 x 0.86 x 0.78 x
EV / EBITDA 14.7 x 15.3 x 23.5 x 15.4 x 8.61 x 7.13 x 6.16 x 5.57 x
EV / FCF 15.5 x 29.6 x 29.1 x 29.5 x - 13 x 10.5 x 8.99 x
FCF Yield 6.47% 3.38% 3.43% 3.39% - 7.69% 9.56% 11.1%
Price to Book 5.78 x 6.27 x 8.36 x 5.61 x 3.29 x 2.69 x 2.43 x 2.21 x
Nbr of stocks (in thousands) 390,167 387,367 387,375 387,393 387,441 387,441 - -
Reference price 2 300.5 366.5 553.0 431.0 290.0 261.0 261.0 261.0
Announcement Date 5/9/19 5/12/20 5/11/21 5/11/22 5/11/23 - - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 59,742 64,552 60,871 65,272 74,526 78,278 83,261 88,079
EBITDA 1 7,105 8,396 8,362 9,535 10,322 10,508 11,654 12,290
EBIT 1 6,902 8,163 8,006 9,106 9,844 9,827 11,070 11,952
Operating Margin 11.55% 12.65% 13.15% 13.95% 13.21% 12.55% 13.3% 13.57%
Earnings before Tax (EBT) 1 6,699 7,871 7,507 8,578 9,955 10,120 11,820 12,920
Net income 1 4,584 5,471 4,974 5,992 7,317 6,788 7,661 8,243
Net margin 7.67% 8.48% 8.17% 9.18% 9.82% 8.67% 9.2% 9.36%
EPS 2 11.75 14.06 12.84 15.47 18.89 17.52 19.78 21.27
Free Cash Flow 1 6,757 4,346 6,755 4,985 - 5,761 6,862 7,610
FCF margin 11.31% 6.73% 11.1% 7.64% - 7.36% 8.24% 8.64%
FCF Conversion (EBITDA) 95.1% 51.76% 80.78% 52.28% - 54.82% 58.87% 61.92%
FCF Conversion (Net income) 147.4% 79.44% 135.81% 83.19% - 84.87% 89.56% 92.32%
Dividend per Share 2 4.000 5.000 5.000 6.000 8.000 10.00 10.50 11.25
Announcement Date 5/9/19 5/12/20 5/11/21 5/11/22 5/11/23 - - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2020 S1 2021 S1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3
Net sales 1 31,411 29,304 15,545 30,876 16,163 18,233 17,627 18,178 35,805 18,529 20,192 18,734 18,787 37,521 19,619 21,020 19,970 20,160 21,450
EBITDA 1 - - - - - - - - - - - - - - 2,794 3,155 - - -
EBIT 1 4,109 3,683 1,830 3,858 2,513 2,735 1,821 2,614 4,435 2,578 2,831 1,909 2,459 4,368 2,657 2,942 2,290 2,650 -
Operating Margin 13.08% 12.57% 11.77% 12.5% 15.55% 15% 10.33% 14.38% 12.39% 13.91% 14.02% 10.19% 13.09% 11.64% 13.54% 13.99% 11.47% 13.14% -
Earnings before Tax (EBT) 1 3,961 3,723 2,036 3,738 2,441 2,399 1,879 2,618 4,497 2,688 2,770 1,781 2,553 4,334 2,761 3,040 - - -
Net income 1 2,680 2,511 1,374 2,518 1,646 1,828 1,285 1,799 3,084 1,824 2,409 1,220 1,756 2,976 1,868 2,026 1,570 1,860 2,010
Net margin 8.53% 8.57% 8.84% 8.16% 10.18% 10.03% 7.29% 9.9% 8.61% 9.84% 11.93% 6.51% 9.35% 7.93% 9.52% 9.64% 7.86% 9.23% 9.37%
EPS 2 6.870 6.482 - 6.502 4.248 4.720 3.320 4.640 7.960 4.710 6.220 3.150 4.530 7.680 4.820 5.170 - - -
Dividend per Share 2 2.500 2.500 - 2.500 - - - - 4.000 - - - - 5.000 - 5.000 - - -
Announcement Date 10/24/19 10/29/20 10/28/21 10/28/21 2/3/22 5/11/22 7/28/22 10/27/22 10/27/22 2/2/23 5/11/23 7/27/23 10/26/23 10/26/23 2/6/24 - - - -
1JPY in Million2JPY
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 12,826 13,375 17,487 20,107 23,483 26,202 29,321 32,718
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 6,757 4,346 6,755 4,985 - 5,761 6,862 7,610
ROE (net income / shareholders' equity) 24.6% 25.5% 20.6% 21.6% 22.9% 19% 19.2% 18.4%
ROA (Net income/ Total Assets) 21.5% 22.5% 20.1% 20.8% 21.6% 13.2% 14.1% 14.2%
Assets 1 21,303 24,279 24,794 28,767 33,941 51,424 54,333 58,049
Book Value Per Share 2 52.00 58.50 66.20 76.80 88.20 97.00 107.0 118.0
Cash Flow per Share 2 12.30 14.70 13.80 16.60 20.10 18.00 20.40 22.70
Capex 1 271 485 450 578 1,067 831 876 913
Capex / Sales 0.45% 0.75% 0.74% 0.89% 1.43% 1.06% 1.05% 1.04%
Announcement Date 5/9/19 5/12/20 5/11/21 5/11/22 5/11/23 - - -
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
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
4
Last Close Price
261 JPY
Average target price
327.5 JPY
Spread / Average Target
+25.48%
Consensus
  1. Stock Market
  2. Equities
  3. 2317 Stock
  4. Financials Systena Corporation