NET ONE SYSTEMS CO., LTD. |
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2,642 JPY | +0.76% |
|
+0.04% | +9.90% |
| Mar. 28 | Net One Systems Co., Ltd. Announces Conclusion of Committed Credit Line Agreement | CI |
| Mar. 28 | Net One Systems Co., Ltd. Announces Hiroaki Ono Redesignates to Operation Director | CI |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 235,980 | 190,447 | 299,567 | 234,945 | 260,131 | 209,466 | - | - |
| Enterprise Value (EV) 1 | 223,118 | 175,047 | 288,602 | 214,664 | 261,173 | 208,681 | 200,710 | 191,900 |
| P/E ratio | 26.5 x | 18.8 x | 24.3 x | 21.3 x | 18 x | 18.4 x | 15.9 x | 14.2 x |
| Yield | 1.33% | 2% | 1.81% | 2.52% | 2.34% | 2.8% | 2.99% | 3.18% |
| Capitalization / Revenue | 1.3 x | 1.02 x | 1.48 x | 1.25 x | 1.24 x | 1.03 x | 0.99 x | 0.94 x |
| EV / Revenue | 1.23 x | 0.94 x | 1.43 x | 1.14 x | 1.25 x | 1.03 x | 0.95 x | 0.86 x |
| EV / EBITDA | 14.1 x | 8.93 x | 12.8 x | 11.2 x | 11.4 x | 10.3 x | 8.96 x | 7.84 x |
| EV / FCF | 42.4 x | 15.8 x | 32.2 x | -17.3 x | 9.87 x | 15.3 x | 15.5 x | 13.4 x |
| FCF Yield | 2.36% | 6.33% | 3.11% | -5.77% | 10.1% | 6.52% | 6.47% | 7.44% |
| Price to Book | 4.04 x | 2.93 x | 4.08 x | 3.44 x | 3.44 x | 2.84 x | 2.59 x | 2.34 x |
| Nbr of stocks (in thousands) | 84,672 | 84,718 | 84,743 | 82,120 | 82,190 | 79,298 | - | - |
| Reference price 2 | 2,787 | 2,248 | 3,535 | 2,861 | 3,165 | 2,642 | 2,642 | 2,642 |
| Announcement Date | 4/25/19 | 4/23/20 | 4/27/21 | 4/28/22 | 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 | 181,935 | 186,169 | 202,122 | 188,520 | 209,680 | 202,398 | 211,871 | 223,151 |
| EBITDA 1 | 15,878 | 19,596 | 22,635 | 19,236 | 22,926 | 20,307 | 22,406 | 24,468 |
| EBIT 1 | 13,012 | 16,476 | 19,673 | 16,790 | 20,635 | 17,289 | 19,518 | 21,612 |
| Operating Margin | 7.15% | 8.85% | 9.73% | 8.91% | 9.84% | 8.54% | 9.21% | 9.69% |
| Earnings before Tax (EBT) 1 | 8,480 | 15,347 | 18,193 | 16,319 | 20,366 | 16,765 | 19,000 | 21,500 |
| Net income 1 | 8,913 | 10,124 | 12,321 | 11,225 | 14,458 | 11,586 | 13,287 | 14,819 |
| Net margin | 4.9% | 5.44% | 6.1% | 5.95% | 6.9% | 5.72% | 6.27% | 6.64% |
| EPS 2 | 105.3 | 119.5 | 145.4 | 134.2 | 176.0 | 143.4 | 165.9 | 185.9 |
| Free Cash Flow 1 | 5,258 | 11,087 | 8,974 | -12,389 | 26,467 | 13,613 | 12,982 | 14,285 |
| FCF margin | 2.89% | 5.96% | 4.44% | -6.57% | 12.62% | 6.73% | 6.13% | 6.4% |
| FCF Conversion (EBITDA) | 33.12% | 56.58% | 39.65% | - | 115.45% | 67.04% | 57.94% | 58.38% |
| FCF Conversion (Net income) | 58.99% | 109.51% | 72.83% | - | 183.06% | 117.49% | 97.71% | 96.4% |
| Dividend per Share 2 | 37.00 | 45.00 | 64.00 | 72.00 | 74.00 | 74.00 | 79.02 | 84.12 |
| Announcement Date | 4/25/19 | 4/23/20 | 4/27/21 | 4/28/22 | 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 | 2024 S2 | 2025 Q1 | 2025 Q2 | 2025 Q3 | 2025 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 88,723 | 97,446 | 82,422 | 119,700 | 41,041 | 77,887 | 44,120 | 66,513 | 110,633 | 36,511 | 56,254 | 92,765 | 46,934 | 69,981 | 116,915 | 42,588 | 50,526 | 93,114 | 49,899 | 58,770 | 105,886 | 41,549 | 52,500 | 50,000 | 69,750 |
| EBITDA 1 | - | - | - | - | 3,291 | - | 4,498 | 9,157 | - | 3,368 | 6,088 | - | 5,259 | 8,296 | - | - | - | - | - | 7,075 | - | - | - | - | - |
| EBIT 1 | 7,096 | 9,380 | 6,665 | 13,008 | 2,460 | 4,518 | 3,743 | 8,529 | 12,272 | 2,756 | 5,563 | 8,319 | 4,696 | 7,620 | 12,316 | 1,665 | 4,679 | 6,344 | 5,751 | 5,243 | - | 2,291 | 5,375 | 5,050 | 7,350 |
| Operating Margin | 8% | 9.63% | 8.09% | 10.87% | 5.99% | 5.8% | 8.48% | 12.82% | 11.09% | 7.55% | 9.89% | 8.97% | 10.01% | 10.89% | 10.53% | 3.91% | 9.26% | 6.81% | 11.53% | 8.92% | - | 5.51% | 10.24% | 10.1% | 10.54% |
| Earnings before Tax (EBT) | 5,167 | 10,180 | 6,483 | 11,710 | 2,629 | 4,873 | 2,962 | - | - | 3,056 | 5,629 | 8,685 | 4,117 | 7,564 | 11,681 | 1,498 | 4,697 | 6,195 | 5,429 | - | - | - | - | - | - |
| Net income 1 | 5,055 | 5,069 | 4,512 | 7,809 | 1,800 | 3,390 | 1,837 | 5,998 | 7,835 | 1,470 | 3,705 | 5,175 | 4,534 | 4,749 | 9,283 | 1,014 | 3,196 | 4,210 | 3,727 | 4,332 | - | 1,865 | - | - | - |
| Net margin | 5.7% | 5.2% | 5.47% | 6.52% | 4.39% | 4.35% | 4.16% | 9.02% | 7.08% | 4.03% | 6.59% | 5.58% | 9.66% | 6.79% | 7.94% | 2.38% | 6.33% | 4.52% | 7.47% | 7.37% | - | 4.49% | - | - | - |
| EPS 2 | 59.68 | 59.84 | 53.26 | - | 21.25 | 39.98 | 22.11 | 72.06 | 94.17 | 17.90 | 45.09 | 62.99 | 55.17 | 57.79 | - | 12.34 | 39.00 | 51.34 | 46.31 | 66.30 | - | 23.38 | - | - | - |
| Dividend per Share 2 | 21.00 | 24.00 | 24.00 | - | - | 36.00 | - | - | - | - | - | 37.00 | - | - | - | - | - | 37.00 | - | 37.00 | - | - | - | - | - |
| Announcement Date | 10/24/19 | 4/23/20 | 12/16/20 | 4/27/21 | 11/4/21 | 11/4/21 | 2/2/22 | 4/28/22 | 4/28/22 | 8/3/22 | 11/2/22 | 11/2/22 | 2/1/23 | 5/9/23 | 5/9/23 | 8/3/23 | 11/1/23 | 11/1/23 | 2/2/24 | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | 1,042 | - | - | - |
| Net Cash position 1 | 12,862 | 15,400 | 10,965 | 20,281 | - | 785 | 8,756 | 17,566 |
| Leverage (Debt/EBITDA) | - | - | - | - | 0.0455 x | - | - | - |
| Free Cash Flow 1 | 5,258 | 11,087 | 8,974 | -12,389 | 26,467 | 13,613 | 12,982 | 14,285 |
| ROE (net income / shareholders' equity) | 12.8% | 15.9% | 17.8% | 15.8% | 20.1% | 15.3% | 16.5% | 16.6% |
| ROA (Net income/ Total Assets) | 11.4% | 13% | 8.44% | 10.6% | 12.1% | 9.5% | 11% | 12.2% |
| Assets 1 | 78,093 | 77,757 | 145,947 | 105,866 | 119,094 | 121,958 | 120,789 | 121,469 |
| Book Value Per Share 2 | 690.0 | 768.0 | 867.0 | 832.0 | 920.0 | 931.0 | 1,021 | 1,131 |
| Cash Flow per Share 2 | 118.0 | 152.0 | 180.0 | 163.0 | 204.0 | 175.0 | 199.0 | 230.0 |
| Capex 1 | 914 | 1,228 | 826 | 1,149 | 7,716 | 2,500 | 2,267 | 2,267 |
| Capex / Sales | 0.5% | 0.66% | 0.41% | 0.61% | 3.68% | 1.24% | 1.07% | 1.02% |
| Announcement Date | 4/25/19 | 4/23/20 | 4/27/21 | 4/28/22 | 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
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
10
Last Close Price
2,642
JPY
Average target price
2,979
JPY
Spread / Average Target
+12.77%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +9.90% | 1.33B | |
| -12.23% | 194B | |
| +0.74% | 166B | |
| +2.19% | 153B | |
| +4.34% | 99.85B | |
| +7.04% | 77.56B | |
| +19.09% | 73.55B | |
| -7.30% | 71B | |
| -20.54% | 52.81B | |
| +0.53% | 47.86B |
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- Financials Net One Systems Co., Ltd.
