Financials Pola Orbis Holdings Inc.

Equities

4927

JP3855900001

Personal Products

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-05-31 am EDT			5-day change	1st Jan Change
1,340 ^JPY	+0.90%		-0.19%	-15.40%

May. 23	NEXT NEW WORLD announced that it has received ¥150 million in funding from Nishikawa Communications Co.,Ltd., Pola Orbis Holdings Inc., 15th Rock Ventures LLP	CI
Mar. 22	Pola Orbis Holdings Inc Announces Executive Changes	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	578,267	463,236	424,095	411,491	350,441	296,476	-	-
Enterprise Value (EV) ¹	490,192	380,576	333,801	332,057	286,991	246,047	247,548	247,449
P/E ratio	29.4 x	100 x	36.1 x	35.9 x	36.3 x	24.6 x	21 x	19.1 x
Yield	4.44%	2.39%	2.66%	2.8%	3.28%	3.91%	3.96%	4.07%
Capitalization / Revenue	2.63 x	2.63 x	2.37 x	2.47 x	2.02 x	1.66 x	1.6 x	1.54 x
EV / Revenue	2.23 x	2.16 x	1.87 x	2 x	1.66 x	1.38 x	1.34 x	1.29 x
EV / EBITDA	12.7 x	18.1 x	13.7 x	15.5 x	11.2 x	9.59 x	8.08 x	7.53 x
EV / FCF	44.4 x	25.5 x	15.4 x	110 x	-93.9 x	37 x	22.9 x	19.7 x
FCF Yield	2.25%	3.92%	6.49%	0.91%	-1.06%	2.7%	4.37%	5.07%
Price to Book	3.03 x	2.73 x	2.45 x	2.41 x	2.09 x	1.77 x	1.77 x	1.74 x
Nbr of stocks (in thousands)	221,219	221,221	221,229	221,232	221,238	221,251	-	-
Reference price ²	2,614	2,094	1,917	1,860	1,584	1,340	1,340	1,340
Announcement Date	2/14/20	2/12/21	2/14/22	2/14/23	2/14/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	219,920	176,311	178,642	166,307	173,304	178,183	185,224	192,180
EBITDA ¹	38,514	21,007	24,281	21,441	25,605	25,656	30,621	32,841
EBIT ¹	31,137	13,752	16,888	12,581	16,080	17,709	20,884	22,918
Operating Margin	14.16%	7.8%	9.45%	7.56%	9.28%	9.94%	11.28%	11.93%
Earnings before Tax (EBT) ¹	29,813	9,169	17,612	12,311	15,360	17,898	21,029	23,108
Net income ¹	19,694	4,632	11,734	11,446	9,665	12,047	14,142	15,547
Net margin	8.96%	2.63%	6.57%	6.88%	5.58%	6.76%	7.64%	8.09%
EPS ²	89.04	20.94	53.04	51.74	43.69	54.48	63.88	70.23
Free Cash Flow ¹	11,036	14,930	21,656	3,016	-3,055	6,643	10,812	12,538
FCF margin	5.02%	8.47%	12.12%	1.81%	-1.76%	3.73%	5.84%	6.52%
FCF Conversion (EBITDA)	28.65%	71.07%	89.19%	14.07%	-	25.89%	35.31%	38.18%
FCF Conversion (Net income)	56.04%	322.32%	184.56%	26.35%	-	55.14%	76.45%	80.65%
Dividend per Share ²	116.0	50.00	51.00	52.00	52.00	52.38	53.12	54.50
Announcement Date	2/14/20	2/12/21	2/14/22	2/14/23	2/14/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2019 S2	2020 S1	2020 S2	2021 S1	2021 Q4	2021 S2	2022 Q1	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 Q3	2024 Q4
Net sales ¹	109,673	83,802	92,509	89,055	47,478	89,587	37,662	41,086	78,748	40,906	46,653	87,559	42,136	43,700	85,836	40,903	46,565	87,468	40,886	44,434	43,545	47,080
EBITDA	-	-	-	-	-	-	-	4,854	-	4,599	-	-	6,354	-	-	-	-	-	-	-	-	-
EBIT ¹	14,901	5,881	7,871	9,095	4,647	7,793	1,912	3,005	4,917	2,751	4,913	7,664	4,549	4,417	8,966	2,947	4,167	7,114	3,357	4,137	4,305	5,730
Operating Margin	13.59%	7.02%	8.51%	10.21%	9.79%	8.7%	5.08%	7.31%	6.24%	6.73%	10.53%	8.75%	10.8%	10.11%	10.45%	7.2%	8.95%	8.13%	8.21%	9.31%	9.89%	12.17%
Earnings before Tax (EBT)	-	2,509	-	10,365	-	-	3,908	4,346	8,254	3,087	970	-	4,211	6,509	10,720	3,097	4,640	-	4,562	-	-	-
Net income	9,756	916	3,716	7,086	3,073	4,648	7,180	3,724	10,904	2,131	-1,589	-	2,743	4,661	7,404	1,880	2,261	-	3,126	-	-	-
Net margin	8.9%	1.09%	4.02%	7.96%	6.47%	5.19%	19.06%	9.06%	13.85%	5.21%	-3.41%	-	6.51%	10.67%	8.63%	4.6%	4.86%	-	7.65%	-	-	-
EPS ²	44.11	4.140	16.80	32.00	13.89	21.04	32.46	16.83	49.29	9.630	-7.180	-	12.40	21.07	33.47	8.500	-	-	14.13	13.29	13.92	19.39
Dividend per Share	-	35.00	-	20.00	31.00	-	-	21.00	21.00	-	31.00	-	-	21.00	21.00	-	-	-	-	-	-	-
Announcement Date	2/14/20	7/30/20	2/12/21	7/30/21	2/14/22	2/14/22	4/28/22	7/29/22	7/29/22	10/31/22	2/14/23	2/14/23	4/28/23	7/31/23	7/31/23	10/30/23	2/14/24	2/14/24	5/9/24	-	-	-

¹JPY in Million²JPY

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	88,075	82,660	90,294	79,434	63,450	50,429	48,928	49,027
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	11,036	14,930	21,656	3,016	-3,055	6,643	10,812	12,538
ROE (net income / shareholders' equity)	10.4%	2.6%	6.9%	6.7%	5.7%	7.13%	8.42%	9.19%
ROA (Net income/ Total Assets)	13%	5.84%	9.21%	7.21%	9.07%	6.52%	7.03%	7.63%
Assets ¹	151,692	79,354	127,368	158,707	106,531	184,772	201,310	203,897
Book Value Per Share ²	862.0	766.0	781.0	773.0	758.0	756.0	758.0	770.0
Cash Flow per Share ²	122.0	53.70	85.20	90.10	78.50	107.0	118.0	125.0
Capex ¹	10,091	8,464	8,945	12,532	17,478	13,620	11,700	11,700
Capex / Sales	4.59%	4.8%	5.01%	7.54%	10.09%	7.64%	6.32%	6.09%
Announcement Date	2/14/20	2/12/21	2/14/22	2/14/23	2/14/24	-	-	-

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 Pola Orbis Holdings Inc.

Trading Rating

Investor Rating

ESG Refinitiv

A-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

1,340 JPY

Average target price

1,536 JPY

Spread / Average Target

+14.65%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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