Financials PKSHA Technology Inc.

Equities

3993

JP3780050005

Software

Delayed Japan Exchange Other stock markets 01:03:20 2024-05-10 EDT			5-day change	1st Jan Change
4,260 ^JPY	-0.58%		-4.38%	+26.22%

04-10	PKSHA Technology Inc. agreed to acquire Triumph Co.	CI
03-21	PKSHA Technology Inc. announced that it expects to receive ¥0.52 million in funding	CI

Valuation

Fiscal Period: September	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	142,263	82,515	58,371	57,592	84,637	132,562	-	-
Enterprise Value (EV) ¹	121,981	60,529	49,997	48,825	72,172	132,562	132,562	132,562
P/E ratio	312 x	47.2 x	396 x	68.7 x	110 x	68.6 x	50.5 x	39.4 x
Yield	-	-	-	-	-	-	-	-
Capitalization / Revenue	46.5 x	11.2 x	6.69 x	5 x	6.09 x	8.02 x	6.79 x	5.79 x
EV / Revenue	46.5 x	11.2 x	6.69 x	5 x	6.09 x	8.02 x	6.79 x	5.79 x
EV / EBITDA	-	-	-	-	-	35.2 x	27.6 x	22.9 x
EV / FCF	-223 x	480 x	-	27.3 x	112 x	88.5 x	63.7 x	50.3 x
FCF Yield	-0.45%	0.21%	-	3.67%	0.9%	1.13%	1.57%	1.99%
Price to Book	5.34 x	3.01 x	2.06 x	2 x	2.93 x	4.36 x	4.06 x	3.72 x
Nbr of stocks (in thousands)	30,398	30,270	30,449	30,601	31,117	30,936	-	-
Reference price ²	4,680	2,726	1,917	1,882	2,720	4,285	4,285	4,285
Announcement Date	19-11-13	20-11-12	21-11-12	22-11-14	23-11-13	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: September	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	3,061	7,393	8,727	11,509	13,908	16,521	19,537	22,884
EBITDA ¹	-	-	-	-	-	3,767	4,801	5,785
EBIT ¹	720	634	713	1,565	1,719	2,853	3,882	4,943
Operating Margin	23.52%	8.58%	8.17%	13.6%	12.36%	17.27%	19.87%	21.6%
Earnings before Tax (EBT) ¹	624	2,706	584	1,548	1,906	2,831	4,614	6,499
Net income ¹	409	1,753	147	836	760	1,944	2,658	3,407
Net margin	13.36%	23.71%	1.68%	7.26%	5.46%	11.77%	13.61%	14.89%
EPS ²	15.00	57.79	4.840	27.38	24.82	62.48	84.83	108.6
Free Cash Flow ¹	-637	172	-	2,112	759	1,498	2,082	2,636
FCF margin	-20.81%	2.33%	-	18.35%	5.46%	9.07%	10.66%	11.52%
FCF Conversion (EBITDA)	-	-	-	-	-	39.77%	43.37%	45.57%
FCF Conversion (Net income)	-	9.81%	-	252.63%	99.87%	77.07%	78.33%	77.38%
Dividend per Share	-	-	-	-	-	-	-	-
Announcement Date	19-11-13	20-11-12	21-11-12	22-11-14	23-11-13	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: September	2020 S1	2021 S1	2021 Q4	2022 Q1	2022 Q2	2022 S1	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4
Net sales ¹	3,768	4,190	2,616	2,657	3,028	5,685	2,865	2,958	3,199	3,462	6,661	3,478	3,769	3,864	4,050	4,086	4,200
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	411	479	275	389	526.7	916	299	349.1	478	555	1,033	250	436	784	787	677	750
Operating Margin	10.91%	11.43%	10.51%	14.64%	17.4%	16.11%	10.44%	11.8%	14.94%	16.03%	15.51%	7.19%	11.57%	20.29%	19.43%	16.57%	17.86%
Earnings before Tax (EBT)	427	435	-	390	-	901	416	-	437	-	1,064	-1,184	-	858	-	-	-
Net income ¹	245	230	105	180	319.2	500	257	78.54	187	284	471	-997	1,286	545	662	670	625
Net margin	6.5%	5.49%	4.01%	6.77%	10.54%	8.8%	8.97%	2.65%	5.85%	8.2%	7.07%	-28.67%	34.12%	14.1%	16.35%	16.4%	14.88%
EPS	8.070	7.560	-	5.930	-	16.41	8.390	-	6.140	-	15.49	-32.71	-	17.64	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	20-05-14	21-05-13	21-11-12	22-02-14	22-05-13	22-05-13	22-08-12	22-11-14	23-02-13	23-05-12	23-05-12	23-08-14	23-11-13	24-02-14	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: September	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	20,282	21,986	8,374	8,767	12,465	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	-637	172	-	2,112	759	1,498	2,082	2,636
ROE (net income / shareholders' equity)	2.5%	6.5%	0.5%	2.9%	2.6%	6.2%	7.3%	8.5%
ROA (Net income/ Total Assets)	3.19%	-	1.89%	4.36%	5.02%	-	-	-
Assets ¹	12,835	-	7,776	19,155	15,143	-	-	-
Book Value Per Share ²	876.0	905.0	931.0	943.0	927.0	982.0	1,057	1,151
Cash Flow per Share	20.10	72.50	20.90	59.50	55.50	-	-	-
Capex ¹	1,068	489	8,530	583	1,631	700	700	700
Capex / Sales	34.89%	6.61%	97.74%	5.07%	11.73%	4.24%	3.58%	3.06%
Announcement Date	19-11-13	20-11-12	21-11-12	22-11-14	23-11-13	-	-	-

¹JPY in Million²JPY

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Ratings for PKSHA Technology Inc.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

4,285 JPY

Average target price

5,850 JPY

Spread / Average Target

+36.52%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Application Software

	1st Jan change	Capi.
PKSHA TECHNOLOGY INC.	+26.22%	852M
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Application Software