Financials Japan Prime Realty Investment Corporation

Equities

8955

JP3040890000

Commercial REITs

Delayed Japan Exchange 12:10:42 2024-07-16 am EDT 5-day change 1st Jan Change
326,000 JPY -0.76% Intraday chart for Japan Prime Realty Investment Corporation +0.77% -6.86%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 439,810 327,722 382,342 369,454 349,012 327,573 - -
Enterprise Value (EV) 1 587,054 482,845 566,438 539,227 514,600 512,399 511,442 525,350
P/E ratio 31.1 x 21.5 x 23.9 x 21.6 x 22.6 x 21.9 x 21.3 x 21 x
Yield 3.12% 4.49% 3.81% 4.2% 4.34% 4.6% 4.66% 4.76%
Capitalization / Revenue 13.7 x 9.79 x 10.8 x 9.96 x 9.81 x 9.18 x 8.99 x 8.9 x
EV / Revenue 18.3 x 14.4 x 15.9 x 14.5 x 14.5 x 14.4 x 14 x 14.3 x
EV / EBITDA 30 x 23.4 x 26.2 x 23.7 x 24.4 x 24.4 x 23.3 x 23.4 x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 1.84 x 1.28 x 1.48 x 1.35 x 1.27 x 1.2 x 1.18 x 1.18 x
Nbr of stocks (in thousands) 923 958 958 997 997 997.2 - -
Reference price 2 476,500 342,000 399,000 370,500 350,000 328,500 328,500 328,500
Announcement Date 2/14/20 2/16/21 2/16/22 2/17/23 2/16/24 - - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 32,108 33,492 35,559 37,098 35,585 35,696 36,436 36,821
EBITDA 1 19,580 20,660 21,645 22,719 21,116 21,037 21,907 22,492
EBIT 1 15,639 16,546 17,416 18,617 17,011 16,686 17,283 17,711
Operating Margin 48.71% 49.4% 48.98% 50.18% 47.8% 46.74% 47.43% 48.1%
Earnings before Tax (EBT) 1 - 15,117 16,015 17,078 15,457 15,079 15,175 15,307
Net income 1 14,131 15,115 16,014 17,077 15,456 14,979 15,467 15,810
Net margin 44.01% 45.13% 45.03% 46.03% 43.43% 41.96% 42.45% 42.94%
EPS 2 15,309 15,871 16,710 17,157 15,498 15,021 15,407 15,641
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 14,873 15,345 15,207 15,550 15,200 15,106 15,308 15,641
Announcement Date 2/14/20 2/16/21 2/16/22 2/17/23 2/16/24 - - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2 2025 S1 2025 S2 2026 S1
Net sales 1 16,006 16,363 17,129 17,305 18,254 18,358 18,740 18,174 17,412 17,724 17,971 18,106 18,256 18,333
EBITDA 1 9,659 10,041 10,619 10,890 - 11,390 11,329 10,906 - 10,465 10,675 10,751 - -
EBIT 1 7,685 8,013 8,533 8,789 8,627 9,343 9,273 8,860 8,152 8,344 8,450 8,540 8,644 8,728
Operating Margin 48.01% 48.97% 49.82% 50.79% 47.26% 50.9% 49.48% 48.75% 46.82% 47.08% 47.02% 47.17% 47.35% 47.61%
Earnings before Tax (EBT) 1 6,915 7,277 7,840 8,121 7,894 8,608 8,470 8,099 7,358 7,511 7,534 7,614 7,714 7,788
Net income 1 6,915 7,276 7,839 8,121 7,893 8,607 8,469 8,099 7,357 7,510 7,533 7,614 7,714 7,788
Net margin 43.2% 44.47% 45.76% 46.93% 43.24% 46.89% 45.19% 44.56% 42.25% 42.37% 41.92% 42.05% 42.25% 42.48%
EPS 2 7,491 7,690 8,181 8,474 8,236 8,664 8,493 8,121 7,377 7,532 7,554 7,635 7,736 7,810
Dividend per Share 2 7,493 7,595 7,750 7,657 7,550 7,800 7,750 7,600 7,600 7,604 7,608 7,663 7,736 7,810
Announcement Date 2/14/20 8/17/20 2/16/21 8/16/21 2/16/22 8/16/22 2/17/23 8/17/23 2/16/24 - - - - -
1JPY in Million2JPY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 147,244 155,124 184,096 169,773 165,587 184,826 183,869 197,778
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 7.52 x 7.508 x 8.505 x 7.473 x 7.842 x 8.786 x 8.393 x 8.793 x
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 5.91% 6.1% 6.23% 6.43% 5.38% 5.45% 5.63% 5.7%
ROA (Net income/ Total Assets) - - - - - - - -
Assets 1 - - - - - - - -
Book Value Per Share 2 259,230 267,570 268,875 274,378 274,527 274,691 278,726 279,103
Cash Flow per Share - - - - - - - -
Capex 1 11,643 32,602 31,747 14,341 15,754 32,928 8,495 8,629
Capex / Sales 36.26% 97.34% 89.28% 38.66% 44.27% 92.25% 23.31% 23.43%
Announcement Date 2/14/20 2/16/21 2/16/22 2/17/23 2/16/24 - - -
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

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