Financials Solasto Corporation

Equities

6197

JP3436250009

Healthcare Facilities & Services

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-07-16 am EDT			5-day change	1st Jan Change
485 ^JPY	-0.61%		+3.19%	-21.27%

Jul. 10	Solasto Disposes Shares as Restricted Compensation	MT
Apr. 22	Solasto's Occupancy Rate Slips in March	MT

Valuation

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	94,584	134,857	93,351	60,010	50,639	44,999	-	-
Enterprise Value (EV) ¹	105,558	147,629	111,659	73,939	64,039	55,799	54,699	52,799
P/E ratio	19.9 x	38.1 x	26.6 x	18.9 x	22.9 x	12.9 x	10.5 x	10.6 x
Yield	1.94%	1.37%	2.02%	3.15%	3.63%	4.14%	4.14%	4.1%
Capitalization / Revenue	0.99 x	1.27 x	0.8 x	0.46 x	0.37 x	0.32 x	0.3 x	0.28 x
EV / Revenue	1.1 x	1.39 x	0.95 x	0.56 x	0.47 x	0.39 x	0.36 x	0.33 x
EV / EBITDA	14.2 x	17.6 x	12.5 x	7.82 x	7.23 x	5.32 x	4.69 x	4.52 x
EV / FCF	138 x	50.7 x	-57.9 x	10.8 x	12.6 x	20.4 x	12 x	13.6 x
FCF Yield	0.73%	1.97%	-1.73%	9.25%	7.96%	4.91%	8.37%	7.34%
Price to Book	5.65 x	7.3 x	4.64 x	2.78 x	2.48 x	1.86 x	1.69 x	1.62 x
Nbr of stocks (in thousands)	94,207	94,438	94,485	94,653	91,903	92,211	-	-
Reference price ²	1,004	1,428	988.0	634.0	551.0	488.0	488.0	488.0
Announcement Date	5/20/20	5/13/21	5/11/22	5/11/23	5/10/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	95,719	106,182	117,239	131,088	135,139	142,306	152,523	158,844
EBITDA ¹	7,415	8,400	8,916	9,460	8,855	10,492	11,651	11,683
EBIT ¹	5,465	6,062	6,319	6,325	5,517	6,823	7,745	7,802
Operating Margin	5.71%	5.71%	5.39%	4.83%	4.08%	4.79%	5.08%	4.91%
Earnings before Tax (EBT) ¹	6,965	5,354	5,641	5,418	4,141	5,833	7,089	7,110
Net income ¹	4,739	3,538	3,502	3,172	2,257	3,502	4,330	4,236
Net margin	4.95%	3.33%	2.99%	2.42%	1.67%	2.46%	2.84%	2.67%
EPS ²	50.33	37.51	37.08	33.53	24.11	37.69	46.58	45.90
Free Cash Flow ¹	766	2,912	-1,927	6,841	5,096	2,742	4,577	3,875
FCF margin	0.8%	2.74%	-1.64%	5.22%	3.77%	1.93%	3%	2.44%
FCF Conversion (EBITDA)	10.33%	34.67%	-	72.32%	57.55%	26.13%	39.28%	33.17%
FCF Conversion (Net income)	16.16%	82.31%	-	215.67%	225.79%	78.29%	105.7%	91.48%
Dividend per Share ²	19.50	19.50	20.00	20.00	20.00	20.20	20.20	20.00
Announcement Date	5/20/20	5/13/21	5/11/22	5/11/23	5/10/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2020 S2	2021 S1	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	2025 Q1	2025 Q2	2025 S1	2025 Q3	2025 Q4	2025 S2
Net sales ¹	48,658	50,360	58,150	29,105	29,984	59,089	32,059	33,081	65,140	33,300	32,648	65,948	32,923	34,060	66,983	34,055	34,101	34,085	35,065	69,600	35,235	35,018	70,400
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	2,972	3,073	3,448	1,805	1,066	2,871	1,483	1,637	3,120	1,810	1,395	3,205	1,195	1,315	2,510	1,550	1,457	1,455	1,515	3,100	1,700	1,638	3,300
Operating Margin	6.11%	6.1%	5.93%	6.2%	3.56%	4.86%	4.63%	4.95%	4.79%	5.44%	4.27%	4.86%	3.63%	3.86%	3.75%	4.55%	4.27%	4.27%	4.32%	4.45%	4.82%	4.68%	4.69%
Earnings before Tax (EBT) ¹	-	2,935	3,653	1,763	225	-	1,572	1,579	3,151	1,414	853	2,267	3,909	1,054	4,963	1,161	-1,983	881	1,202	-	1,398	1,756	-
Net income ¹	1,704	1,782	2,134	1,076	292	1,368	908	944	1,852	823	497	1,320	3,390	500	3,890	516	-2,149	583.5	562.5	1,200	763.5	806.5	1,500
Net margin	3.5%	3.54%	3.67%	3.7%	0.97%	2.32%	2.83%	2.85%	2.84%	2.47%	1.52%	2%	10.3%	1.47%	5.81%	1.52%	-6.3%	1.71%	1.6%	1.72%	2.17%	2.3%	2.13%
EPS	-	18.89	22.60	11.38	-	-	9.600	-	19.58	8.700	-	-	35.82	-	41.14	5.680	-	-	-	-	-	-	-
Dividend per Share	-	9.500	10.00	-	-	-	-	-	10.00	-	-	-	-	-	10.00	-	-	-	-	-	-	-	-
Announcement Date	5/20/20	11/10/20	11/9/21	2/8/22	5/11/22	5/11/22	8/10/22	11/9/22	11/9/22	2/8/23	5/11/23	5/11/23	8/10/23	11/8/23	11/8/23	2/8/24	5/10/24	-	-	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	10,974	12,772	18,308	13,929	13,400	10,800	9,700	7,800
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.48 x	1.52 x	2.053 x	1.472 x	1.513 x	1.029 x	0.8325 x	0.6676 x
Free Cash Flow ¹	766	2,912	-1,927	6,841	5,096	2,742	4,577	3,875
ROE (net income / shareholders' equity)	30.9%	20.1%	18.1%	15.2%	10.7%	14.8%	16.6%	15%
ROA (Net income/ Total Assets)	10.4%	6.01%	9.62%	9.6%	7.67%	6.17%	7.24%	7.33%
Assets ¹	45,636	58,903	36,385	33,050	29,420	56,807	59,777	57,757
Book Value Per Share ²	178.0	196.0	213.0	228.0	222.0	263.0	289.0	300.0
Cash Flow per Share ²	59.70	48.70	49.70	48.30	40.30	91.00	112.0	-
Capex ¹	1,296	950	10,207	2,291	1,218	1,742	1,886	2,300
Capex / Sales	1.35%	0.89%	8.71%	1.75%	0.9%	1.22%	1.24%	1.45%
Announcement Date	5/20/20	5/13/21	5/11/22	5/11/23	5/10/24	-	-	-

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 Solasto Corporation

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

488 JPY

Average target price

624 JPY

Spread / Average Target

+27.87%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Healthcare Facilities & Services

	1st Jan change	Capi.
SOLASTO CORPORATION	-21.27%	285M
HCA HEALTHCARE, INC.	+17.11%	83.02B
CVS HEALTH CORPORATION	-25.70%	73.65B
DR. SULAIMAN AL HABIB MEDICAL SERVICES GROUP COMPANY	+0.07%	26.5B
FRESENIUS SE & CO. KGAA	+4.60%	17.72B
LABCORP HOLDINGS INC.	-8.71%	17.49B
QUEST DIAGNOSTICS INCORPORATED	+4.87%	16.06B
NATERA, INC.	+79.85%	13.83B
TENET HEALTHCARE CORPORATION	+73.90%	12.84B
PURE HEALTH HOLDING	-26.32%	12.73B

Other Healthcare Facilities & Services