Financials GOLDCREST Co.,Ltd.

Equities

8871

JP3306800008

Real Estate Development & Operations

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-05-01 EDT			5-day change	1st Jan Change
2,490 ^JPY	-2.31%		+3.58%	+12.67%

2023	Tranche Update on GOLDCREST Co.,Ltd.'s Equity Buyback Plan announced on April 25, 2023.	CI
2023	GOLDCREST Co.,Ltd.'s Equity Buyback announced on April 25, 2023, has closed 67,000 shares, representing 0.2% for ¥116.83 million.	CI

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	52,681	57,265	58,107	56,991	56,880	82,756	-	-
Enterprise Value (EV) ¹	39,893	44,186	39,548	34,821	31,016	57,245	61,741	66,023
P/E ratio	9.73 x	7.54 x	13.8 x	7.57 x	8.15 x	24.3 x	19.5 x	17.7 x
Yield	4.02%	5.23%	3.24%	4.74%	4.68%	3.21%	3.21%	3.21%
Capitalization / Revenue	1.59 x	1.65 x	2.01 x	1.66 x	2.07 x	3.51 x	2.88 x	2.53 x
EV / Revenue	1.2 x	1.27 x	1.37 x	1.02 x	1.13 x	2.43 x	2.15 x	2.02 x
EV / EBITDA	4.42 x	3.5 x	5.01 x	2.74 x	2.65 x	9.38 x	8.7 x	8.05 x
EV / FCF	2.2 x	16 x	4.01 x	2.17 x	-15.6 x	46.7 x	11.1 x	10.1 x
FCF Yield	45.5%	6.25%	24.9%	46%	-6.4%	2.14%	8.97%	9.94%
Price to Book	0.45 x	0.47 x	0.47 x	0.45 x	0.44 x	0.63 x	0.62 x	0.61 x
Nbr of stocks (in thousands)	35,262	35,262	34,261	33,802	33,302	33,235	-	-
Reference price ²	1,494	1,624	1,696	1,686	1,708	2,490	2,490	2,490
Announcement Date	19-05-09	20-05-14	21-05-13	22-05-12	23-05-11	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	33,159	34,791	28,890	34,245	27,453	23,600	28,700	32,675
EBITDA ¹	9,022	12,609	7,888	12,707	11,708	6,100	7,100	8,200
EBIT ¹	8,251	11,508	6,795	11,585	10,553	5,550	6,800	7,450
Operating Margin	24.88%	33.08%	23.52%	33.83%	38.44%	23.52%	23.69%	22.8%
Earnings before Tax (EBT) ¹	7,969	11,305	6,667	11,544	10,554	5,285	6,520	7,150
Net income ¹	5,414	7,589	4,304	7,597	7,031	3,400	4,250	4,650
Net margin	16.33%	21.81%	14.9%	22.18%	25.61%	14.41%	14.81%	14.23%
EPS ²	153.5	215.2	122.7	222.9	209.6	102.6	128.0	140.6
Free Cash Flow ¹	18,158	2,760	9,852	16,017	-1,986	1,225	5,541	6,561
FCF margin	54.76%	7.93%	34.1%	46.77%	-7.23%	5.19%	19.31%	20.08%
FCF Conversion (EBITDA)	201.26%	21.89%	124.9%	126.05%	-	20.08%	78.04%	80.01%
FCF Conversion (Net income)	335.39%	36.37%	228.9%	210.83%	-	36.03%	130.38%	141.1%
Dividend per Share ²	60.00	85.00	55.00	80.00	80.00	80.00	80.00	80.00
Announcement Date	19-05-09	20-05-14	21-05-13	22-05-12	23-05-11	-	-	-

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
Net sales ¹	27,188	7,603	6,335	22,555	3,412	9,149	20,943	4,153	25,096	15,029	4,969	19,998	3,449	4,006	7,455	2,533	3,754	6,287	6,496	10,808	16,913
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	10,694	814	419	6,376	530	2,430	8,296	859	9,155	8,765	1,205	9,970	261	322	583	-212	593	381	1,041	4,089	5,689
Operating Margin	39.33%	10.71%	6.61%	28.27%	15.53%	26.56%	39.61%	20.68%	36.48%	58.32%	24.25%	49.85%	7.57%	8.04%	7.82%	-8.37%	15.8%	6.06%	16.03%	37.83%	33.64%
Earnings before Tax (EBT) ¹	10,592	713	366	6,301	519	2,404	8,292	848	-	8,739	1,161	9,900	361	293	654	-261	547	286	986	3,428	5,584
Net income ¹	6,461	1,128	97	4,207	255	1,360	5,337	900	6,237	5,326	685	6,011	500	520	1,020	-391	448	57	732	2,606	3,763
Net margin	23.76%	14.84%	1.53%	18.65%	7.47%	14.87%	25.48%	21.67%	24.85%	35.44%	13.79%	30.06%	14.5%	12.98%	13.68%	-15.44%	11.93%	0.91%	11.27%	24.11%	22.25%
EPS ²	183.2	-	2.770	-	7.450	39.73	156.3	26.87	-	157.6	20.42	178.0	15.72	15.94	-	-11.77	13.50	1.730	22.02	66.30	-
Dividend per Share ²	35.00	-	25.00	-	35.00	35.00	-	45.00	-	-	40.00	40.00	-	40.00	-	-	-	40.00	-	40.00	-
Announcement Date	19-10-31	20-05-14	20-10-29	21-05-13	21-10-29	21-10-29	22-01-27	22-05-12	22-05-12	22-07-28	22-10-27	22-10-27	23-01-26	23-05-11	23-05-11	23-07-27	23-10-26	23-10-26	24-01-25	-	-

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	12,788	13,079	18,559	22,170	25,864	25,511	21,015	16,733
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	18,158	2,760	9,852	16,017	-1,986	1,225	5,541	6,561
ROE (net income / shareholders' equity)	4.7%	6.3%	3.5%	6.1%	5.5%	2.6%	3.2%	3.45%
ROA (Net income/ Total Assets)	4.29%	5.97%	3.57%	5.99%	5.42%	3.2%	3.9%	4%
Assets ¹	126,195	127,196	120,702	126,808	129,811	106,250	108,974	116,250
Book Value Per Share ²	3,331	3,476	3,577	3,762	3,917	3,944	3,996	4,060
Cash Flow per Share ²	175.0	240.0	148.0	250.0	238.0	117.0	138.0	160.0
Capex ¹	1,072	1,767	611	108	92	300	195	195
Capex / Sales	3.23%	5.08%	2.11%	0.32%	0.34%	1.27%	0.68%	0.6%
Announcement Date	19-05-09	20-05-14	21-05-13	22-05-12	23-05-11	-	-	-

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

Ratings for GOLDCREST Co.,Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

UNDERPERFORM

Number of Analysts

Last Close Price

2,490 JPY

Average target price

2,440 JPY

Spread / Average Target

-2.01%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Residential Real Estate Development

	1st Jan change	Capi.
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DEUTSCHE WOHNEN SE	-25.90%	7.53B
VINHOMES	-5.56%	7.03B
VINGROUP	-0.34%	6.54B
LEG IMMOBILIEN SE	+0.76%	6.33B
OPEN HOUSE GROUP CO., LTD.	+14.08%	3.64B
IIDA GROUP HOLDINGS CO., LTD.	-5.23%	3.59B

Residential Real Estate Development