SYSTEM SUPPORT INC. |
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,811 JPY | +0.44% |
|
-2.84% | -6.02% |
| Apr. 25 | Drax on track to meet expectations after powerful first quarter | AN |
| Apr. 22 | System Support's Unit to Acquire US-based MultiNet International | MT |
Valuation
| Fiscal Period: June | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 8,333 | 21,216 | 14,382 | 12,057 | 22,078 | 18,670 | - | - |
| Enterprise Value (EV) 1 | 7,663 | 21,216 | 12,686 | 10,011 | 19,716 | 15,820 | 15,260 | 14,620 |
| P/E ratio | 23.5 x | 47.5 x | 21.2 x | 15.3 x | 21.9 x | 15.6 x | 14.4 x | 12.4 x |
| Yield | 0.18% | 0.47% | 1.51% | 2.15% | 1.5% | 2% | 2.22% | 2.55% |
| Capitalization / Revenue | 0.71 x | 1.59 x | 1 x | 0.74 x | 1.15 x | 0.84 x | 0.75 x | 0.66 x |
| EV / Revenue | 0.65 x | 1.59 x | 0.88 x | 0.62 x | 1.02 x | 0.72 x | 0.61 x | 0.52 x |
| EV / EBITDA | - | - | - | - | - | - | - | - |
| EV / FCF | -225 x | - | - | 10.7 x | 21.9 x | 16.4 x | 14.7 x | 12.2 x |
| FCF Yield | -0.44% | - | - | 9.33% | 4.57% | 6.1% | 6.78% | 8.17% |
| Price to Book | 4.21 x | 8.89 x | 4.81 x | 3.53 x | 5.35 x | 3.77 x | 3.2 x | 2.72 x |
| Nbr of stocks (in thousands) | 10,070 | 9,970 | 10,347 | 10,349 | 10,356 | 10,355 | - | - |
| Reference price 2 | 827.5 | 2,128 | 1,390 | 1,165 | 2,132 | 1,803 | 1,803 | 1,803 |
| Announcement Date | 8/13/19 | 8/12/20 | 8/10/21 | 8/10/22 | 8/9/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: Juni | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 11,762 | 13,376 | 14,431 | 16,198 | 19,267 | 22,100 | 24,900 | 28,200 |
| EBITDA | - | - | - | - | - | - | - | - |
| EBIT 1 | 529 | 754 | 931 | 1,196 | 1,456 | 1,770 | 1,950 | 2,250 |
| Operating Margin | 4.5% | 5.64% | 6.45% | 7.38% | 7.56% | 8.01% | 7.83% | 7.98% |
| Earnings before Tax (EBT) | 501 | 657 | 930 | 1,176 | 1,430 | - | - | - |
| Net income 1 | 345 | 450 | 674 | 785 | 1,009 | 1,200 | 1,300 | 1,500 |
| Net margin | 2.93% | 3.36% | 4.67% | 4.85% | 5.24% | 5.43% | 5.22% | 5.32% |
| EPS 2 | 35.20 | 44.82 | 65.45 | 75.91 | 97.52 | 115.9 | 125.5 | 144.9 |
| Free Cash Flow 1 | -34 | - | - | 934 | 900.5 | 965 | 1,035 | 1,195 |
| FCF margin | -0.29% | - | - | 5.77% | 4.67% | 4.37% | 4.16% | 4.24% |
| FCF Conversion (EBITDA) | - | - | - | - | - | - | - | - |
| FCF Conversion (Net income) | - | - | - | 118.98% | 89.25% | 80.42% | 79.62% | 79.67% |
| Dividend per Share 2 | 1.500 | 10.00 | 21.00 | 25.00 | 32.00 | 36.00 | 40.00 | 46.00 |
| Announcement Date | 8/13/19 | 8/12/20 | 8/10/21 | 8/10/22 | 8/9/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: June | 2020 S1 | 2021 S1 | 2022 S1 | 2022 Q3 | 2023 Q1 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 6,573 | 6,917 | 7,790 | 4,146 | 4,404 | 9,211 | 4,981 | 5,075 | 5,034 | 5,601 | 10,635 | 5,710 | 5,754 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 406 | 508 | 587 | 446 | 304 | 743 | 440 | 273 | 399 | - | 883 | 527 | 359 |
| Operating Margin | 6.18% | 7.34% | 7.54% | 10.76% | 6.9% | 8.07% | 8.83% | 5.38% | 7.93% | - | 8.3% | 9.23% | 6.24% |
| Earnings before Tax (EBT) | 369 | 517 | 592 | 434 | 309 | 757 | 437 | - | 427 | - | 922 | 532 | - |
| Net income 1 | 239 | 344 | 393 | 292 | 205 | 508 | 293 | 208 | 282 | - | 614 | 348 | 237 |
| Net margin | 3.64% | 4.97% | 5.04% | 7.04% | 4.65% | 5.52% | 5.88% | 4.1% | 5.6% | - | 5.77% | 6.09% | 4.12% |
| EPS | 23.80 | 33.49 | 37.97 | 28.28 | 19.89 | 49.11 | 28.29 | - | 27.32 | - | 59.37 | 33.56 | - |
| Dividend per Share | - | - | 12.00 | - | - | 15.00 | - | - | - | - | 18.00 | - | - |
| Announcement Date | 2/12/20 | 2/10/21 | 2/9/22 | 5/11/22 | 11/9/22 | 2/9/23 | 5/10/23 | 8/9/23 | 11/8/23 | 2/7/24 | 2/7/24 | 5/8/24 | - |
1JPY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: June | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 670 | - | 1,696 | 2,046 | 2,362 | 2,850 | 3,410 | 4,050 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | -34 | - | - | 934 | 901 | 965 | 1,035 | 1,195 |
| ROE (net income / shareholders' equity) | 27.2% | 20.5% | 25% | 24.5% | 26.8% | - | - | - |
| ROA (Net income/ Total Assets) | 10.6% | 12.6% | 15.1% | 16.4% | 17.6% | - | - | - |
| Assets 1 | 3,262 | 3,575 | 4,454 | 4,775 | 5,746 | - | - | - |
| Book Value Per Share 2 | 196.0 | 239.0 | 289.0 | 330.0 | 398.0 | 478.0 | 564.0 | 663.0 |
| Cash Flow per Share | 52.90 | 61.50 | 82.30 | 92.90 | 115.0 | - | - | - |
| Capex 1 | 106 | - | 146 | 73 | 165 | 180 | 180 | 180 |
| Capex / Sales | 0.9% | - | 1.01% | 0.45% | 0.86% | 0.81% | 0.72% | 0.64% |
| Announcement Date | 8/13/19 | 8/12/20 | 8/10/21 | 8/10/22 | 8/9/23 | - | - | - |
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
Sell
Buy
Mean consensus
BUY
Number of Analysts
1
Last Close Price
1,803
JPY
Average target price
3,000
JPY
Spread / Average Target
+66.39%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -6.02% | 120M | |
| -19.71% | 177B | |
| -2.88% | 161B | |
| +1.06% | 152B | |
| +4.74% | 99.88B | |
| +10.29% | 81.66B | |
| +20.90% | 74.66B | |
| -9.94% | 70.05B | |
| -31.19% | 45.84B | |
| -12.25% | 42.83B |
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