Stock 8844 COSMOS INITIA CO., LTD.
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Financials Cosmos Initia Co., Ltd.

Equities

8844

JP3970200006

Real Estate Development & Operations

Market Closed - Japan Exchange
Other stock markets
 02:00:00 2024-04-30 am EDT 		5-day change 1st Jan Change
865 JPY +1.17% Intraday chart for Cosmos Initia Co., Ltd. -3.35% -7.59%
Jan. 19 Kyoritsu Maintenance Partners with Daiwa House Industry; Acquires Cosmos Initia Shares from Daiwa MT
Jan. 11 Kyoritsu Maintenance Co., Ltd. entered into share transfer agreement to acquire 25.006473% stake in Cosmos Initia Co., Ltd. from Daiwa House Industry Co., Ltd. for ¥6.03 billion. CI

Valuation

Fiscal Period: March 2018 2019 2020 2021 2022 2023
Capitalization 1 25,091 18,988 13,885 15,113 14,503 16,536
Enterprise Value (EV) 1 67,796 66,934 70,648 53,412 62,987 70,990
P/E ratio 6.79 x 4.16 x 4.06 x 7.53 x 8.52 x 4.71 x
Yield 1.22% 1.96% 3.17% 1.57% 1.64% 2.84%
Capitalization / Revenue 0.25 x 0.18 x 0.13 x 0.14 x 0.14 x 0.13 x
EV / Revenue 0.67 x 0.64 x 0.64 x 0.5 x 0.59 x 0.58 x
EV / EBITDA 13.2 x 12 x 11.4 x 20.4 x 17.5 x 13.6 x
EV / FCF -30.2 x -5.26 x -7.76 x 2.68 x -8.57 x -9.44 x
FCF Yield -3.31% -19% -12.9% 37.3% -11.7% -10.6%
Price to Book 0.97 x 0.64 x 0.43 x 0.44 x 0.4 x 0.41 x
Nbr of stocks (in thousands) 33,907 33,907 33,866 33,885 33,884 33,541
Reference price 2 740.0 560.0 410.0 446.0 428.0 493.0
Announcement Date 6/22/18 6/21/19 6/23/20 6/24/21 6/28/22 6/27/23
1JPY in Million2JPY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2018 2019 2020 2021 2022 2023
Net sales 1 100,829 104,606 110,559 107,257 107,349 123,374
EBITDA 1 5,126 5,589 6,187 2,615 3,603 5,201
EBIT 1 4,870 5,381 6,011 2,376 3,352 4,926
Operating Margin 4.83% 5.14% 5.44% 2.22% 3.12% 3.99%
Earnings before Tax (EBT) 1 4,340 5,488 5,226 2,129 2,518 3,004
Net income 1 3,695 4,562 3,415 2,007 1,703 3,524
Net margin 3.66% 4.36% 3.09% 1.87% 1.59% 2.86%
EPS 2 109.0 134.5 100.9 59.24 50.26 104.8
Free Cash Flow 1 -2,242 -12,727 -9,103 19,903 -7,351 -7,523
FCF margin -2.22% -12.17% -8.23% 18.56% -6.85% -6.1%
FCF Conversion (EBITDA) - - - 761.11% - -
FCF Conversion (Net income) - - - 991.69% - -
Dividend per Share 2 9.000 11.00 13.00 7.000 7.000 14.00
Announcement Date 6/22/18 6/21/19 6/23/20 6/24/21 6/28/22 6/27/23
1JPY in Million2JPY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2020 S1 2021 S1 2022 S1 2022 Q3 2023 Q1 2023 S1 2023 Q3 2024 Q1 2024 S1 2024 Q3
Net sales 1 43,182 38,207 42,843 14,923 10,453 44,973 17,411 18,896 50,087 25,570
EBITDA - - - - - - - - - -
EBIT 1 2,535 -542 613 -1,619 -2,685 -996 -941 122 2,277 881
Operating Margin 5.87% -1.42% 1.43% -10.85% -25.69% -2.21% -5.4% 0.65% 4.55% 3.45%
Earnings before Tax (EBT) 1 2,327 -381 309 -1,792 -2,451 -1,043 -1,218 32 2,040 593
Net income 1 1,947 -141 127 -1,229 -1,712 -82 -818 -25 1,259 366
Net margin 4.51% -0.37% 0.3% -8.24% -16.38% -0.18% -4.7% -0.13% 2.51% 1.43%
EPS 2 57.55 -4.190 3.750 -36.28 -50.65 -2.460 -24.30 -0.7400 37.19 10.80
Dividend per Share 5.000 - - - - - - - 5.000 -
Announcement Date 11/7/19 11/9/20 11/8/21 2/9/22 8/5/22 11/9/22 2/9/23 8/7/23 11/9/23 2/8/24
1JPY in Million2JPY
Estimates

Balance Sheet Analysis

Fiscal Period: March 2018 2019 2020 2021 2022 2023
Net Debt 1 42,705 47,946 56,763 38,299 48,484 54,454
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 8.331 x 8.579 x 9.175 x 14.65 x 13.46 x 10.47 x
Free Cash Flow 1 -2,242 -12,727 -9,103 19,903 -7,351 -7,523
ROE (net income / shareholders' equity) 15.4% 16.4% 10.9% 5.87% 4.67% 9.26%
ROA (Net income/ Total Assets) 2.7% 2.76% 2.74% 1.03% 1.45% 2.03%
Assets 1 136,877 165,146 124,630 195,671 117,351 173,178
Book Value Per Share 2 762.0 880.0 963.0 1,016 1,063 1,205
Cash Flow per Share 2 452.0 598.0 639.0 920.0 975.0 989.0
Capex 1 262 114 451 286 463 367
Capex / Sales 0.26% 0.11% 0.41% 0.27% 0.43% 0.3%
Announcement Date 6/22/18 6/21/19 6/23/20 6/24/21 6/28/22 6/27/23
1JPY in Million2JPY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Quarterly earnings - Rate of surprise

Company calendar

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