Financials Advance Residence Investment Corporation

Equities

3269

JP3047160001

Residential REITs

Market Closed - Japan Exchange 02:00:00 2024-05-21 am EDT 5-day change 1st Jan Change
336,500 JPY -1.61% Intraday chart for Advance Residence Investment Corporation -1.32% +6.49%

Valuation

Fiscal Period: January 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 472,978 429,350 468,822 439,738 465,725 490,086 - -
Enterprise Value (EV) 1 665,100 623,311 666,611 646,207 465,725 702,225 701,780 707,408
P/E ratio 30.9 x 28.9 x 31 x 28.3 x 29.2 x 31.7 x 31.4 x 31.6 x
Yield 3.26% 3.62% 3.35% 3.66% - 3.51% 3.53% 3.53%
Capitalization / Revenue 14.1 x 12.5 x 13.7 x 12.5 x 12.5 x 14.4 x 14 x 14.1 x
EV / Revenue 19.8 x 18.1 x 19.5 x 18.4 x 12.5 x 20.6 x 20 x 20.4 x
EV / EBITDA 29.4 x 27.8 x 29.4 x 27.9 x - 29.3 x 28.7 x 28.8 x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 2.04 x 1.86 x 2.11 x 1.9 x - 2.01 x 1.97 x 1.94 x
Nbr of stocks (in thousands) 1,385 1,385 1,385 1,385 1,433 1,433 - -
Reference price 2 341,500 310,000 338,500 317,500 325,000 342,000 342,000 342,000
Announcement Date 3/11/20 3/17/21 3/29/22 3/16/23 3/14/24 - - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: Enero 2020 2021 2022 2023 2024 2025 2026 2027
Net sales 1 33,642 34,371 34,198 35,122 37,312 34,033 35,095 34,753
EBITDA 1 22,661 22,408 22,636 23,127 - 23,967 24,480 24,593
EBIT 1 17,167 16,807 16,935 17,263 17,786 16,890 17,213 17,201
Operating Margin 51.03% 48.9% 49.52% 49.15% 47.67% 49.63% 49.05% 49.49%
Earnings before Tax (EBT) 1 15,041 14,870 15,108 15,564 15,973 15,112 14,944 14,073
Net income 1 15,039 14,868 15,107 15,562 15,973 15,457 15,660 15,681
Net margin 44.71% 43.26% 44.18% 44.31% 42.81% 45.42% 44.62% 45.12%
EPS 2 11,036 10,735 10,906 11,235 11,146 10,787 10,884 10,807
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 11,124 11,235 11,338 11,626 - 12,012 12,080 12,076
Announcement Date 3/11/20 3/17/21 3/29/22 3/16/23 3/14/24 - - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: January 2019 S1 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
Net sales 1 16,302 16,196 16,466 17,176 17,357 17,014 16,884 17,314 17,253 17,869 17,964 18,692 18,703 18,380
EBITDA 1 10,954 10,824 10,933 11,728 11,092 11,316 - 11,575 - 11,761 - 12,199 - -
EBIT 1 8,272 8,118 8,202 8,965 8,294 8,513 8,224 8,710 8,312 8,951 8,496 8,910 8,633 8,253
Operating Margin 50.74% 50.12% 49.81% 52.19% 47.78% 50.04% 48.71% 50.31% 48.18% 50.09% 47.29% 47.67% 46.16% 44.9%
Earnings before Tax (EBT) 1 7,088 6,984 7,095 7,946 7,321 7,549 7,294 7,813 - 8,075 7,460 8,006 7,736 7,268
Net income 1 7,088 6,984 7,094 7,945 7,320 7,548 7,294 7,813 7,488 8,074 7,460 7,985 7,723 7,246
Net margin 43.48% 43.12% 43.08% 46.26% 42.17% 44.36% 43.2% 45.12% 43.4% 45.19% 41.53% 42.72% 41.29% 39.42%
EPS 2 5,250 5,173 5,254 5,782 5,285 5,450 5,266 5,640 5,406 5,829 5,501 5,592 5,398 5,088
Dividend per Share 2 5,499 5,422 5,504 5,620 5,635 5,600 5,646 5,692 5,786 5,840 5,780 5,885 5,912 5,928
Announcement Date 9/10/18 3/12/19 9/10/19 3/11/20 9/18/20 3/17/21 10/6/21 3/29/22 9/14/22 3/16/23 - - - -
1JPY in Million2JPY
Estimates

Balance Sheet Analysis

Fiscal Period: January 2020 2021 2022 2023 2024 2025 2026 2027
Net Debt 1 192,123 193,961 197,788 206,469 - 212,139 211,694 217,322
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 8.478 x 8.656 x 8.738 x 8.928 x - 8.851 x 8.647 x 8.837 x
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 6.66% 6.43% 6.55% 6.74% - 6.13% 6.54% 6.64%
ROA (Net income/ Total Assets) - - 3.29% - - - - -
Assets 1 - - 459,320 - - - - -
Book Value Per Share 2 167,291 166,763 160,778 167,044 - 170,214 173,668 176,138
Cash Flow per Share - - - - - - - -
Capex 1 12,799 13,732 7,114 15,390 - 18,732 5,601 9,297
Capex / Sales 38.05% 39.95% 20.8% 43.82% - 55.04% 15.96% 26.75%
Announcement Date 3/11/20 3/17/21 3/29/22 3/16/23 3/14/24 - - -
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

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