HULIC REIT, INC. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 152,700 JPY | +1.46% |
|
-0.33% | +2.35% |
| Feb. 26 | Unknown buyer agreed to acquire Hulic Higashi Nihombashi Building from Hulic Reit, Inc. for ¥4.08 billion | CI |
| 2023 | Hulic Reit, Inc. acquired Hulic Kaminarimon Building from Hulic Co., Ltd.. | CI |
Valuation
| Fiscal Period: August | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 235,188 | 181,712 | 250,576 | 239,040 | 233,856 | 216,720 | - | - |
| Enterprise Value (EV) 1 | 359,392 | 317,817 | 250,576 | 396,076 | 233,856 | 380,903 | 372,420 | 368,290 |
| P/E ratio | 25.8 x | 19.7 x | 23.1 x | 22.2 x | - | 21.2 x | - | 21.9 x |
| Yield | 3.81% | 5.07% | 4.28% | 4.31% | - | 4.69% | - | 4.63% |
| Capitalization / Revenue | 13.8 x | 9.68 x | 11.5 x | 11.1 x | - | 9.61 x | - | 9.77 x |
| EV / Revenue | 21.1 x | 16.9 x | 11.5 x | 18.4 x | - | 16.9 x | - | 16.6 x |
| EV / EBITDA | 31.6 x | 25.9 x | - | 27.4 x | - | 26.1 x | 25 x | 25.7 x |
| EV / FCF | -9,159,891 x | -22,309,080 x | - | -22,560,797 x | - | - | - | - |
| FCF Yield | -0% | -0% | - | -0% | - | - | - | - |
| Price to Book | 1.41 x | 1.02 x | 1.36 x | 1.19 x | 1.17 x | 1.08 x | 1.07 x | 1.05 x |
| Nbr of stocks (in thousands) | 1,251 | 1,312 | 1,353 | 1,440 | 1,440 | 1,440 | - | - |
| Reference price 2 | 188,000 | 138,500 | 185,200 | 166,000 | 162,400 | 150,500 | 150,500 | 150,500 |
| Announcement Date | 4/12/19 | 4/14/20 | 4/14/21 | 4/14/22 | 5/23/23 | 4/18/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: August | 2019 | 2020 | 2021 | 2022 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 17,046 | 18,779 | 21,762 | 21,511 | 22,546 | - | 22,176 |
| EBITDA 1 | 11,380 | 12,275 | - | 14,438 | 14,599 | 14,910 | 14,310 |
| EBIT 1 | 9,573 | 10,252 | 12,014 | 11,914 | 11,843 | - | 11,687 |
| Operating Margin | 56.16% | 54.59% | 55.21% | 55.38% | 52.53% | - | 52.7% |
| Earnings before Tax (EBT) 1 | 8,445 | 8,997 | 10,598 | 10,488 | 10,260 | - | 10,043 |
| Net income 1 | 8,443 | 8,995 | 10,520 | 10,318 | 10,224 | - | 9,902 |
| Net margin | 49.53% | 47.9% | 48.34% | 47.97% | 45.35% | - | 44.65% |
| EPS 2 | 7,297 | 7,040 | 8,017 | 7,482 | 7,099 | - | 6,876 |
| Free Cash Flow | -39,235 | -14,246 | - | -17,556 | - | - | - |
| FCF margin | -230.17% | -75.86% | - | -81.61% | - | - | - |
| FCF Conversion (EBITDA) | - | - | - | - | - | - | - |
| FCF Conversion (Net income) | - | - | - | - | - | - | - |
| Dividend per Share 2 | 7,159 | 7,018 | 7,928 | 7,150 | 7,063 | - | 6,968 |
| Announcement Date | 4/12/19 | 4/14/20 | 4/14/21 | 4/14/22 | 4/18/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: August | 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 | 8,944 | 9,137 | 9,642 | 10,591 | 11,171 | 10,505 | 11,006 | 11,502 | 10,678 | 11,222 | 11,226 | 11,497 | 10,982 | 11,164 |
| EBITDA 1 | 5,948 | 5,949 | 6,326 | 6,999 | 7,472 | - | - | 7,614 | 6,932 | 7,248 | 7,466 | 7,278 | 6,822 | - |
| EBIT 1 | 4,996 | 4,983 | 5,268 | 5,782 | 6,232 | 5,763 | 6,151 | 6,299 | 5,625 | 5,883 | 5,911 | 6,040 | 5,701 | 5,812 |
| Operating Margin | 55.86% | 54.54% | 54.64% | 54.59% | 55.79% | 54.86% | 55.88% | 54.76% | 52.68% | 52.42% | 52.66% | 52.54% | 51.91% | 52.06% |
| Earnings before Tax (EBT) 1 | 4,400 | 4,362 | 4,634 | 5,083 | 5,515 | 5,054 | 5,434 | 5,567 | 4,888 | 5,099 | 5,096 | 5,270 | 4,910 | 4,966 |
| Net income 1 | 4,399 | 4,362 | 4,633 | 5,082 | 5,438 | 4,972 | 5,346 | 5,475 | 4,887 | 5,064 | 5,095 | 5,214 | 4,870 | 4,966 |
| Net margin | 49.18% | 47.74% | 48.05% | 47.98% | 48.68% | 47.33% | 48.57% | 47.6% | 45.77% | 45.12% | 45.39% | 45.35% | 44.34% | 44.48% |
| EPS 2 | 3,654 | 3,486 | 3,554 | 3,873 | 4,144 | 3,698 | 3,784 | 3,802 | 3,394 | 3,516 | 3,538 | 3,660 | 3,410 | 3,448 |
| Dividend per Share 2 | 3,516 | 3,487 | 3,532 | 3,876 | 4,052 | 3,550 | 3,600 | 3,700 | 3,480 | 3,480 | 3,488 | 3,660 | 3,410 | 3,448 |
| Announcement Date | 4/12/19 | 10/15/19 | 4/14/20 | 10/14/20 | 4/14/21 | 10/14/21 | 4/14/22 | 10/13/22 | 5/23/23 | 10/17/23 | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: August | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 124,204 | 136,105 | - | 157,036 | - | 164,183 | 155,700 | 151,570 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 10.91 x | 11.09 x | - | 10.88 x | - | 11.25 x | 10.44 x | 10.59 x |
| Free Cash Flow | -39,235 | -14,246 | - | -17,556 | - | - | - | - |
| ROE (net income / shareholders' equity) | 5.39% | 3.43% | 5.88% | 5.44% | - | 5.15% | 5.25% | 4.8% |
| ROA (Net income/ Total Assets) | 2.82% | 2.68% | - | 2.7% | - | - | - | - |
| Assets 1 | 299,044 | 335,631 | - | 382,697 | - | - | - | - |
| Book Value Per Share 2 | 133,655 | 135,984 | 136,594 | 139,158 | 139,054 | 139,195 | 141,257 | 142,681 |
| Cash Flow per Share | 8,859 | 8,687 | - | 17,058 | - | - | - | - |
| Capex 1 | - | 25,345 | 32,752 | 42,103 | - | 22,403 | 16,160 | 731 |
| Capex / Sales | - | 134.96% | 150.5% | 195.72% | - | 99.91% | - | 3.3% |
| Announcement Date | 4/12/19 | 4/14/20 | 4/14/21 | 4/14/22 | 5/23/23 | 4/18/24 | - | - |
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
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +2.35% | 1.39B | |
| -3.94% | 47.9B | |
| -3.63% | 21.26B | |
| -0.65% | 13.52B | |
| +18.53% | 11.9B | |
| -5.34% | 9.69B | |
| -1.01% | 8.44B | |
| -13.86% | 8.43B | |
| +3.08% | 7.83B | |
| -16.42% | 5.72B |
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