FINDEX INC. |
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,060 JPY | +3.72% |
|
+4.85% | +2.91% |
| 04-15 | Findex Disposes 10,855 Shares Worth 11 Million Yen as Restricted Stock Compensation | MT |
| 03-28 | Findex to Allot Treasury Shares Worth 12 Million Yen to Directors, Executive Officers | MT |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 13,770 | 34,665 | 29,727 | 25,765 | 12,656 | 26,416 |
| Enterprise Value (EV) 1 | 12,959 | 32,758 | 27,626 | 23,614 | 10,243 | 23,723 |
| P/E ratio | 35.2 x | 69.5 x | 69.1 x | 40.5 x | 17.5 x | 24.9 x |
| Yield | 1.39% | 0.59% | 0.69% | - | 1.92% | 1.26% |
| Capitalization / Revenue | 3.82 x | 8.1 x | 7.42 x | 5.19 x | 2.79 x | 5.09 x |
| EV / Revenue | 3.6 x | 7.65 x | 6.9 x | 4.75 x | 2.26 x | 4.57 x |
| EV / EBITDA | 13 x | 28 x | 27.2 x | 19.2 x | 7.98 x | 13.5 x |
| EV / FCF | 59.5 x | 26 x | 115 x | 59.2 x | 40.6 x | 55.2 x |
| FCF Yield | 1.68% | 3.85% | 0.87% | 1.69% | 2.46% | 1.81% |
| Price to Book | 5.41 x | 12.2 x | 9.68 x | 7.34 x | 3.13 x | 5.46 x |
| Nbr of stocks (in thousands) | 25,596 | 25,602 | 25,604 | 25,612 | 25,620 | 25,647 |
| Reference price 2 | 538.0 | 1,354 | 1,161 | 1,006 | 494.0 | 1,030 |
| Announcement Date | 3/28/19 | 3/30/20 | 3/29/21 | 3/30/22 | 3/29/23 | 3/28/24 |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 3,603 | 4,281 | 4,004 | 4,968 | 4,541 | 5,191 |
| EBITDA 1 | 999 | 1,168 | 1,016 | 1,227 | 1,283 | 1,753 |
| EBIT 1 | 593 | 743 | 636 | 920 | 1,029 | 1,496 |
| Operating Margin | 16.46% | 17.36% | 15.88% | 18.52% | 22.66% | 28.82% |
| Earnings before Tax (EBT) 1 | 593 | 743 | 643 | 944 | 1,059 | 1,524 |
| Net income 1 | 398 | 499 | 430 | 636 | 722 | 1,059 |
| Net margin | 11.05% | 11.66% | 10.74% | 12.8% | 15.9% | 20.4% |
| EPS 2 | 15.30 | 19.49 | 16.79 | 24.84 | 28.18 | 41.31 |
| Free Cash Flow 1 | 217.6 | 1,260 | 239.5 | 399 | 252.1 | 430 |
| FCF margin | 6.04% | 29.44% | 5.98% | 8.03% | 5.55% | 8.28% |
| FCF Conversion (EBITDA) | 21.78% | 107.91% | 23.57% | 32.52% | 19.65% | 24.53% |
| FCF Conversion (Net income) | 54.68% | 252.58% | 55.7% | 62.74% | 34.92% | 40.6% |
| Dividend per Share 2 | 7.500 | 8.000 | 8.000 | - | 9.500 | 13.00 |
| Announcement Date | 3/28/19 | 3/30/20 | 3/29/21 | 3/30/22 | 3/29/23 | 3/28/24 |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S1 | 2021 S1 | 2021 Q3 | 2021 Q4 | 2021 S2 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2022 S2 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2024 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 2,260 | 2,405 | 1,108 | 1,455 | 2,563 | 1,264 | 969.1 | 2,234 | 766 | 1,541 | 2,307 | 1,251 | 997.4 | 2,249 | 1,225 | 2,124 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 552 | 488 | 215 | 217 | 432 | 370 | 85.25 | 455.7 | 33 | 539.3 | 572.3 | 288 | 109 | 397.3 | 399 | 862 |
| Operating Margin | 24.42% | 20.29% | 19.4% | 14.91% | 16.86% | 29.27% | 8.8% | 20.4% | 4.31% | 34.99% | 24.8% | 23.02% | 10.93% | 17.66% | 32.57% | 40.58% |
| Earnings before Tax (EBT) 1 | 555 | 505 | 216 | 223 | 439 | 381 | 99.92 | 481.2 | 42 | 536.8 | 578.8 | 292 | 119.2 | 411.4 | 406 | 865 |
| Net income 1 | 375 | 340 | 145 | 151 | 296 | 258 | 61.28 | 320 | 30 | 372 | 402 | 199 | 84.45 | 283.9 | 284 | 642 |
| Net margin | 16.59% | 14.14% | 13.09% | 10.38% | 11.55% | 20.41% | 6.32% | 14.33% | 3.92% | 24.13% | 17.42% | 15.91% | 8.47% | 12.62% | 23.18% | 30.23% |
| EPS 2 | 14.67 | 13.30 | 5.650 | - | - | 10.10 | - | 12.49 | 1.160 | - | - | 7.780 | - | 11.08 | 11.05 | 25.07 |
| Dividend per Share | 2.500 | 2.500 | - | - | - | - | - | 3.000 | - | - | - | - | - | 4.000 | - | - |
| Announcement Date | 8/13/20 | 8/12/21 | 11/11/21 | 2/9/22 | 2/9/22 | 5/12/22 | 8/9/22 | 8/9/22 | 11/10/22 | 2/13/23 | 2/13/23 | 5/11/23 | 8/9/23 | 8/9/23 | 11/13/23 | 5/14/24 |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - |
| Net Cash position 1 | 811 | 1,907 | 2,101 | 2,151 | 2,413 | 2,693 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - |
| Free Cash Flow 1 | 218 | 1,260 | 240 | 399 | 252 | 430 |
| ROE (net income / shareholders' equity) | 14.9% | 18.5% | 14.5% | 19.3% | 19.1% | 23.9% |
| ROA (Net income/ Total Assets) | 11.5% | 14.1% | 11% | 13.8% | 13.5% | 17.1% |
| Assets 1 | 3,457 | 3,534 | 3,927 | 4,619 | 5,353 | 6,181 |
| Book Value Per Share 2 | 99.40 | 111.0 | 120.0 | 137.0 | 158.0 | 189.0 |
| Cash Flow per Share 2 | 31.70 | 74.50 | 82.10 | 84.80 | 94.20 | 105.0 |
| Capex 1 | 25 | 58 | 34 | 70 | 73 | 28 |
| Capex / Sales | 0.69% | 1.35% | 0.85% | 1.41% | 1.61% | 0.54% |
| Announcement Date | 3/28/19 | 3/30/20 | 3/29/21 | 3/30/22 | 3/29/23 | 3/28/24 |
1JPY in Million2JPY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
| 1st Jan change | Capi. | |
|---|---|---|
| +2.91% | 168M | |
| +5.87% | 32.95B | |
| +21.39% | 7.82B | |
| +32.81% | 4.17B | |
| -27.79% | 2.72B | |
| -32.48% | 1.15B | |
| +10.53% | 980M | |
| -36.79% | 873M | |
| -28.50% | 831M | |
| -15.67% | 688M |
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