Financials COMSYS Holdings Corporation

Equities

1721

JP3305530002

Construction & Engineering

Delayed Japan Exchange 09:30:23 2024-05-20 pm EDT 5-day change 1st Jan Change
3,224 JPY +1.86% Intraday chart for COMSYS Holdings Corporation +0.84% +3.63%

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 390,529 354,595 428,474 329,123 294,848 377,831 - -
Enterprise Value (EV) 1 373,666 326,748 400,820 326,347 257,610 424,582 318,031 312,362
P/E ratio 13.1 x 13.7 x 14.7 x 11.3 x 15.4 x 15.5 x 13.1 x 12.5 x
Yield 1.99% 2.69% 2.49% 3.56% 4.09% 2.96% 3.62% 3.83%
Capitalization / Revenue 0.81 x 0.63 x 0.76 x 0.56 x 0.52 x 0.74 x 0.63 x 0.61 x
EV / Revenue 0.78 x 0.58 x 0.71 x 0.55 x 0.46 x 0.74 x 0.53 x 0.5 x
EV / EBITDA 8.75 x 6.79 x 7.88 x 6.05 x 5.91 x 6.46 x 6.07 x 5.71 x
EV / FCF -144 x 12.7 x 24.1 x -55.6 x 4.69 x 16.9 x 10.6 x 11.5 x
FCF Yield -0.69% 7.89% 4.14% -1.8% 21.3% 5.93% 9.43% 8.71%
Price to Book 1.3 x 1.15 x 1.3 x 0.97 x 0.87 x 1.17 x 1.02 x 0.99 x
Nbr of stocks (in thousands) 129,314 127,415 125,652 123,359 120,691 119,378 - -
Reference price 2 3,020 2,783 3,410 2,668 2,443 3,165 3,165 3,165
Announcement Date 5/10/19 5/13/20 5/14/21 5/12/22 5/11/23 5/10/24 - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 481,783 560,882 563,252 589,028 563,295 571,186 603,869 618,595
EBITDA 1 42,711 48,103 50,851 53,934 43,573 51,479 52,400 54,731
EBIT 1 35,267 38,953 41,572 42,963 32,104 39,221 41,650 43,517
Operating Margin 7.32% 6.94% 7.38% 7.29% 5.7% 6.87% 6.9% 7.03%
Earnings before Tax (EBT) 1 39,600 39,478 43,264 43,484 30,541 40,983 42,400 44,200
Net income 1 28,018 25,994 29,369 29,208 19,338 27,453 28,661 29,608
Net margin 5.82% 4.63% 5.21% 4.96% 3.43% 4.81% 4.75% 4.79%
EPS 2 230.1 203.0 232.7 235.5 158.8 228.5 242.2 253.3
Free Cash Flow 1 -2,586 25,766 16,608 -5,865 54,938 25,189 30,000 27,200
FCF margin -0.54% 4.59% 2.95% -1% 9.75% 4.41% 4.97% 4.4%
FCF Conversion (EBITDA) - 53.56% 32.66% - 126.08% 49.41% 57.25% 49.7%
FCF Conversion (Net income) - 99.12% 56.55% - 284.09% 91.75% 104.67% 91.87%
Dividend per Share 2 60.00 75.00 85.00 95.00 100.0 105.0 114.5 121.2
Announcement Date 5/10/19 5/13/20 5/14/21 5/12/22 5/11/23 5/10/24 - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2020 S1 2020 S2 2021 S1 2021 S2 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 S1 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 S1 2025 Q3 2025 Q4 2025 S2 2026 S1 2026 S2
Net sales 1 243,024 - 234,262 328,990 133,556 253,746 136,127 199,155 335,282 107,466 123,401 230,867 127,063 205,365 332,428 110,769 134,120 244,889 138,864 187,433 115,000 141,000 - 149,000 202,000 - - -
EBITDA 1 - - - - - - - - - - - - - - - - - - - 18,907 - - - - - - - -
EBIT 1 12,959 - 12,402 29,170 9,737 18,079 9,796 15,088 24,884 3,560 5,914 9,474 7,493 15,137 22,630 4,651 9,516 14,167 10,125 14,929 4,500 9,600 - 9,800 15,208 - - -
Operating Margin 5.33% - 5.29% 8.87% 7.29% 7.12% 7.2% 7.58% 7.42% 3.31% 4.79% 4.1% 5.9% 7.37% 6.81% 4.2% 7.1% 5.79% 7.29% 7.96% 3.91% 6.81% - 6.58% 7.53% - - -
Earnings before Tax (EBT) 13,640 - 13,763 29,501 9,727 18,867 9,937 14,680 24,617 4,400 5,836 10,236 7,740 12,565 20,305 5,133 9,725 14,858 11,508 - 5,000 9,600 - 9,800 14,875 - - -
Net income 1 8,855 - 8,934 20,435 6,449 12,375 6,671 10,162 16,833 2,692 3,845 6,537 5,111 7,690 12,801 3,234 6,302 9,536 7,971 9,946 3,500 6,600 - 6,800 9,493 - - -
Net margin 3.64% - 3.81% 6.21% 4.83% 4.88% 4.9% 5.1% 5.02% 2.5% 3.12% 2.83% 4.02% 3.74% 3.85% 2.92% 4.7% 3.89% 5.74% 5.31% 3.04% 4.68% - 4.56% 4.7% - - -
EPS 2 68.79 - 70.59 - - 99.19 53.90 82.41 - 22.03 - 53.45 42.00 - - 26.80 - 79.14 66.34 82.99 - - - - - - - -
Dividend per Share 2 35.00 40.00 40.00 45.00 - 45.00 - - - - - 50.00 - - - - - 50.00 - 57.00 - - 55.00 - - 55.00 60.00 60.00
Announcement Date 11/8/19 5/13/20 11/6/20 5/14/21 11/10/21 11/10/21 2/9/22 5/12/22 5/12/22 8/5/22 11/10/22 11/10/22 2/10/23 5/11/23 5/11/23 8/7/23 11/9/23 11/9/23 2/8/24 5/10/24 - - - - - - - -
1JPY in Million2JPY
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 16,863 27,847 27,654 2,776 37,238 45,173 59,800 65,469
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 -2,586 25,766 16,608 -5,865 54,938 25,189 30,000 27,200
ROE (net income / shareholders' equity) 10.6% 8.6% 9.2% 8.8% 5.7% 7.8% 7.9% 8%
ROA (Net income/ Total Assets) 9.39% 9% 9.24% 8.78% 6.03% 7.95% 6.9% 6.5%
Assets 1 298,316 288,711 317,847 332,792 320,757 345,500 415,375 455,510
Book Value Per Share 2 2,318 2,425 2,620 2,761 2,824 3,032 3,109 3,206
Cash Flow per Share 2 291.0 274.0 306.0 316.0 244.0 317.0 321.0 333.0
Capex 1 10,653 11,730 12,764 11,129 9,808 19,086 7,000 9,250
Capex / Sales 2.21% 2.09% 2.27% 1.89% 1.74% 3.34% 1.16% 1.5%
Announcement Date 5/10/19 5/13/20 5/14/21 5/12/22 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

Trading Rating
Investor Rating
ESG Refinitiv
C-
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
6
Last Close Price
3,165 JPY
Average target price
3,663 JPY
Spread / Average Target
+15.75%
Consensus
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