Financials ZIGExN Co., Ltd.

Equities

3679

JP3386490001

Internet Services

Delayed Japan Exchange Other stock markets 12:06:02 2024-07-16 am EDT			5-day change	1st Jan Change
594 ^JPY	-0.17%		+0.17%	+11.86%

Jul. 01	Tranche Update on ZIGExN Co., Ltd.'s Equity Buyback Plan announced on May 9, 2024.	CI
May. 09	ZIGExN Co., Ltd. announces an Equity Buyback for 4,200,000 shares, representing 4.04% for ¥2,800 million.	CI

Valuation

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	29,336	47,250	32,545	50,129	64,689	60,943	-	-
Enterprise Value (EV) ¹	24,927	43,508	26,854	46,769	55,971	60,943	60,943	60,943
P/E ratio	11 x	-24.2 x	14.4 x	17.3 x	17 x	14.4 x	12.1 x	10.9 x
Yield	1.14%	0.69%	1.16%	0.83%	1.05%	1.26%	1.26%	1.26%
Capitalization / Revenue	2.22 x	3.76 x	2.13 x	2.68 x	2.78 x	2.22 x	1.94 x	1.73 x
EV / Revenue	2.22 x	3.76 x	2.13 x	2.68 x	2.78 x	2.22 x	1.94 x	1.73 x
EV / EBITDA	-	12.3 x	7.67 x	9.63 x	9.54 x	7.86 x	6.83 x	6.16 x
EV / FCF	58.4 x	57.6 x	8.55 x	8.92 x	11 x	14.5 x	12.2 x	10.8 x
FCF Yield	1.71%	1.74%	11.7%	11.2%	9.09%	6.91%	8.22%	9.23%
Price to Book	1.8 x	3.64 x	2.18 x	3.12 x	3.33 x	2.64 x	2.19 x	1.84 x
Nbr of stocks (in thousands)	111,123	108,123	108,123	104,002	104,002	102,426	-	-
Reference price ²	264.0	437.0	301.0	482.0	622.0	595.0	595.0	595.0
Announcement Date	5/14/20	5/14/21	5/13/22	5/10/23	5/9/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	13,199	12,564	15,272	18,709	23,249	27,500	31,400	35,300
EBITDA ¹	-	3,834	4,244	5,205	6,781	7,755	8,923	9,891
EBIT ¹	3,806	-1,062	3,314	4,180	5,394	6,300	7,400	8,300
Operating Margin	28.84%	-8.45%	21.7%	22.34%	23.2%	22.91%	23.57%	23.51%
Earnings before Tax (EBT) ¹	3,800	-1,069	3,309	4,199	5,430	6,300	7,400	8,300
Net income ¹	2,669	-1,964	2,262	2,930	3,800	4,300	5,100	5,700
Net margin	20.22%	-15.63%	14.81%	15.66%	16.34%	15.64%	16.24%	16.15%
EPS ²	24.02	-18.05	20.92	27.85	36.53	41.30	49.00	54.80
Free Cash Flow ¹	502	821	3,808	5,617	5,880	4,210	5,010	5,625
FCF margin	3.8%	6.53%	24.93%	30.02%	25.29%	15.31%	15.96%	15.93%
FCF Conversion (EBITDA)	-	21.41%	89.73%	107.92%	86.71%	54.29%	56.15%	56.87%
FCF Conversion (Net income)	18.81%	-	168.35%	191.71%	154.74%	97.91%	98.24%	98.68%
Dividend per Share ²	3.000	3.000	3.500	4.000	6.500	7.500	7.500	7.500
Announcement Date	5/14/20	5/14/21	5/13/22	5/10/23	5/9/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2021 S1	2022 S1	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 S1	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	5,575	7,593	3,632	4,047	4,105	4,318	8,423	4,695	5,591	5,460	5,743	11,203	5,717	6,329	6,500	6,784	6,757	7,458
EBITDA ¹	-	-	897	1,195	1,204	1,176	-	1,213	1,612	1,505	1,627	-	1,670	1,979	1,718	1,845	1,885	2,307
EBIT ¹	-2,691	1,700	656	958	972	934	1,906	961	1,313	1,203	1,310	2,513	1,347	1,534	1,399	1,511	1,545	1,845
Operating Margin	-48.27%	22.39%	18.06%	23.67%	23.68%	21.63%	22.63%	20.47%	23.48%	22.03%	22.81%	22.43%	23.56%	24.24%	21.52%	22.27%	22.87%	24.74%
Earnings before Tax (EBT) ¹	-2,694	1,697	655	957	971	932	1,903	948	1,348	1,207	1,320	2,527	1,316	1,587	1,399	1,511	1,545	1,845
Net income ¹	-3,013	1,198	452	612	694	677	1,371	667	892	847	947	1,794	981	1,025	951	1,027	1,050	1,273
Net margin	-54.04%	15.78%	12.44%	15.12%	16.91%	15.68%	16.28%	14.21%	15.95%	15.51%	16.49%	16.01%	17.16%	16.2%	14.63%	15.14%	15.54%	17.07%
EPS	-27.54	11.08	4.180	-	6.450	-	12.88	6.420	-	8.150	-	17.25	9.440	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	11/13/20	11/12/21	2/14/22	5/13/22	8/9/22	11/9/22	11/9/22	2/7/23	5/10/23	8/9/23	11/9/23	11/9/23	2/8/24	5/9/24	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	4,409	3,742	5,691	3,360	8,718	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	502	821	3,808	5,617	5,880	4,210	5,010	5,625
ROE (net income / shareholders' equity)	17.8%	-13.4%	16.2%	18.9%	21.4%	18.4%	18.1%	17%
ROA (Net income/ Total Assets)	17.9%	-5.03%	15.9%	16.2%	16.7%	-	-	-
Assets ¹	14,909	39,048	14,255	18,141	22,719	-	-	-
Book Value Per Share ²	146.0	120.0	138.0	155.0	187.0	225.0	271.0	323.0
Cash Flow per Share ²	31.30	-9.730	29.50	37.60	48.80	53.60	61.30	67.10
Capex ¹	519	610	39	89	866	1,289	1,289	1,274
Capex / Sales	3.93%	4.86%	0.26%	0.48%	3.72%	4.69%	4.11%	3.61%
Announcement Date	5/14/20	5/14/21	5/13/22	5/10/23	5/9/24	-	-	-

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 ZIGExN Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

595 JPY

Average target price

850 JPY

Spread / Average Target

+42.86%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Social Media & Networking

	1st Jan change	Capi.
ZIGEXN CO., LTD.	+12.05%	386M
KUAISHOU TECHNOLOGY	-9.63%	27.41B
TENCENT MUSIC ENTERTAINMENT GROUP	+64.93%	23.94B
MATCH GROUP, INC.	-12.27%	8.58B
WEIBO CORPORATION	-26.21%	2.07B
BUMBLE INC.	-36.70%	1.19B
NEXTDOOR HOLDINGS, INC.	+50.26%	1.07B
GREE, INC.	-1.23%	610M
NEW WORK SE	-16.50%	403M
VK COMPANY LIMITED	-.--%	204M

Social Media & Networking