GMO RESEARCH & AI, INC. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2,745 JPY | +0.29% |
|
-1.44% | -2.03% |
| 2023 | GMO Research, Inc. agreed to acquire CASHMART business of Snowball LLC. | CI |
| 2023 | Venezuela bondholders file claim to New York court amid tolling agreement | RE |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 2,303 | 3,010 | 2,715 | 3,655 | 5,491 | 4,575 |
| Enterprise Value (EV) 1 | 1,448 | 2,306 | 1,814 | 2,409 | 4,340 | 3,252 |
| P/E ratio | 15.6 x | 22.1 x | 15.5 x | 13.3 x | 15.4 x | 14.9 x |
| Yield | 3.21% | 2.28% | 3.23% | 3.75% | 3.24% | 4.1% |
| Capitalization / Revenue | 0.72 x | 0.91 x | 0.8 x | 0.89 x | 1.06 x | 0.89 x |
| EV / Revenue | 0.45 x | 0.7 x | 0.53 x | 0.59 x | 0.83 x | 0.64 x |
| EV / EBITDA | 4.08 x | 7.69 x | 5.45 x | 5.72 x | 8.59 x | 6.14 x |
| EV / FCF | 12.3 x | 16.6 x | 7.02 x | 6.06 x | -113 x | 10.6 x |
| FCF Yield | 8.15% | 6.03% | 14.2% | 16.5% | -0.89% | 9.43% |
| Price to Book | 1.7 x | 2.18 x | 1.83 x | 2.18 x | 2.88 x | 2.24 x |
| Nbr of stocks (in thousands) | 1,657 | 1,629 | 1,631 | 1,632 | 1,632 | 1,633 |
| Reference price 2 | 1,390 | 1,847 | 1,665 | 2,240 | 3,365 | 2,802 |
| Announcement Date | 3/19/19 | 3/23/20 | 3/22/21 | 3/22/22 | 3/23/23 | 3/19/24 |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 3,186 | 3,290 | 3,394 | 4,086 | 5,200 | 5,117 |
| EBITDA 1 | 355 | 300 | 333 | 421 | 505 | 530 |
| EBIT 1 | 249 | 213 | 263 | 353 | 420 | 441 |
| Operating Margin | 7.82% | 6.47% | 7.75% | 8.64% | 8.08% | 8.62% |
| Earnings before Tax (EBT) 1 | 211 | 201 | 239 | 385 | 457 | 427 |
| Net income 1 | 148 | 137 | 175 | 274 | 356 | 307 |
| Net margin | 4.65% | 4.16% | 5.16% | 6.71% | 6.85% | 6% |
| EPS 2 | 89.13 | 83.74 | 107.3 | 167.9 | 218.2 | 188.0 |
| Free Cash Flow 1 | 118 | 139.1 | 258.4 | 397.6 | -38.5 | 306.6 |
| FCF margin | 3.7% | 4.23% | 7.61% | 9.73% | -0.74% | 5.99% |
| FCF Conversion (EBITDA) | 33.24% | 46.38% | 77.59% | 94.45% | - | 57.85% |
| FCF Conversion (Net income) | 79.73% | 101.55% | 147.64% | 145.12% | - | 99.88% |
| Dividend per Share 2 | 44.65 | 42.11 | 53.86 | 83.97 | 109.1 | 114.8 |
| Announcement Date | 3/19/19 | 3/23/20 | 3/22/21 | 3/22/22 | 3/23/23 | 3/19/24 |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S1 | 2021 S1 | 2022 Q1 | 2022 S1 | 2022 Q3 | 2023 Q1 | 2023 S1 | 2023 Q3 | 2024 Q1 |
|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,612 | 1,865 | 1,365 | 2,551 | 1,220 | 1,427 | 2,581 | 1,220 | 1,361 |
| EBITDA | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 33 | 152 | 210 | 263 | 81 | 198 | 204 | 99 | 119 |
| Operating Margin | 2.05% | 8.15% | 15.38% | 10.31% | 6.64% | 13.88% | 7.9% | 8.11% | 8.74% |
| Earnings before Tax (EBT) 1 | 15 | 173 | 231 | 326 | 104 | 191 | 220 | 91 | 122 |
| Net income 1 | 13 | 128 | 175 | 246 | 72 | 135 | 154 | 63 | 92 |
| Net margin | 0.81% | 6.86% | 12.82% | 9.64% | 5.9% | 9.46% | 5.97% | 5.16% | 6.76% |
| EPS 2 | 8.560 | 78.64 | 107.8 | 151.0 | 43.98 | 83.23 | 94.91 | 38.13 | 56.49 |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | - |
| Announcement Date | 8/7/20 | 8/6/21 | 5/9/22 | 8/4/22 | 11/7/22 | 5/8/23 | 8/3/23 | 11/6/23 | 5/8/24 |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - |
| Net Cash position 1 | 855 | 704 | 901 | 1,246 | 1,151 | 1,323 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - |
| Free Cash Flow 1 | 118 | 139 | 258 | 398 | -38.5 | 307 |
| ROE (net income / shareholders' equity) | 10.9% | 10% | 12.2% | 17.3% | 19.9% | 15.5% |
| ROA (Net income/ Total Assets) | 7.67% | 6.42% | 7.62% | 8.77% | 8.94% | 9.09% |
| Assets 1 | 1,929 | 2,135 | 2,296 | 3,123 | 3,981 | 3,378 |
| Book Value Per Share 2 | 820.0 | 846.0 | 910.0 | 1,027 | 1,169 | 1,252 |
| Cash Flow per Share 2 | 266.0 | 293.0 | 407.0 | 407.0 | 470.0 | 541.0 |
| Capex 1 | 4 | 1 | 1 | 10 | 3 | - |
| Capex / Sales | 0.13% | 0.03% | 0.03% | 0.24% | 0.06% | - |
| Announcement Date | 3/19/19 | 3/23/20 | 3/22/21 | 3/22/22 | 3/23/23 | 3/19/24 |
1JPY in Million2JPY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
| 1st Jan change | Capi. | |
|---|---|---|
| -2.03% | 28.65M | |
| -12.98% | 392M | |
| -29.80% | 360M | |
| +1.53% | 195M | |
| +46.97% | 71.68M |
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