Financials AEON Fantasy Co.,LTD.

Equities

4343

JP3131420006

Leisure & Recreation

Market Closed - Japan Exchange Other stock markets 07:00:00 26/06/2024 BST			5-day change	1st Jan Change
2,286 ^JPY	-0.61%		-1.21%	-12.68%

01-18	Nomura Securities Co., Ltd. has agreed to acquire 5.27% stake in AEON Fantasy Co.,LTD..	CI
2023	AEON Fantasy Co.,LTD. Reports Earnings Results for the Full Year Ended February 28, 2023	CI

Valuation

Fiscal Period: February	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	36,498	50,014	38,921	54,458	45,825	45,196	-	-
Enterprise Value (EV) ¹	45,104	73,373	61,859	74,235	70,840	62,412	61,902	61,350
P/E ratio	-112 x	-5.39 x	-8.63 x	-16.1 x	34.9 x	21.2 x	15.4 x	13.2 x
Yield	2.71%	1.19%	1.02%	0.36%	0.43%	1.09%	1.44%	1.76%
Capitalization / Revenue	0.5 x	1.08 x	0.65 x	0.75 x	0.56 x	0.52 x	0.5 x	0.49 x
EV / Revenue	0.61 x	1.59 x	1.03 x	1.02 x	0.87 x	0.72 x	0.69 x	0.66 x
EV / EBITDA	3.22 x	22.4 x	8.7 x	6.8 x	5.2 x	3.84 x	3.49 x	3.22 x
EV / FCF	-20.2 x	-10.8 x	-67.6 x	17.6 x	53.2 x	21.9 x	20.2 x	17.7 x
FCF Yield	-4.94%	-9.24%	-1.48%	5.67%	1.88%	4.57%	4.94%	5.66%
Price to Book	1.37 x	3 x	3.33 x	6.85 x	5.52 x	4.15 x	3.42 x	2.84 x
Nbr of stocks (in thousands)	19,750	19,760	19,767	19,767	19,769	19,771	-	-
Reference price ²	1,848	2,531	1,969	2,755	2,318	2,286	2,286	2,286
Announcement Date	10/04/20	09/04/21	08/04/22	12/04/23	10/04/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: February	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	73,492	46,116	60,170	72,690	81,758	86,100	89,533	92,900
EBITDA ¹	14,027	3,269	7,110	10,913	13,628	16,250	17,750	19,050
EBIT ¹	3,211	-7,429	-3,408	849	3,585	5,467	6,600	7,433
Operating Margin	4.37%	-16.11%	-5.66%	1.17%	4.38%	6.35%	7.37%	8%
Earnings before Tax (EBT) ¹	652	-11,808	-4,783	-2,049	3,289	4,500	5,500	6,100
Net income ¹	-325	-9,277	-4,507	-3,376	1,314	2,133	2,933	3,433
Net margin	-0.44%	-20.12%	-7.49%	-4.64%	1.61%	2.48%	3.28%	3.7%
EPS ²	-16.47	-469.5	-228.1	-170.8	66.50	107.9	148.4	173.7
Free Cash Flow ¹	-2,229	-6,781	-914.5	4,212	1,332	2,850	3,060	3,470
FCF margin	-3.03%	-14.7%	-1.52%	5.79%	1.63%	3.31%	3.42%	3.74%
FCF Conversion (EBITDA)	-	-	-	38.6%	9.77%	17.54%	17.24%	18.22%
FCF Conversion (Net income)	-	-	-	-	101.34%	133.59%	104.32%	101.07%
Dividend per Share ²	50.00	30.00	20.00	10.00	10.00	25.00	33.00	40.33
Announcement Date	10/04/20	09/04/21	08/04/22	12/04/23	10/04/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: February	2020 S2	2021 S1	2021 S2	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	2024 S2
Net sales ¹	34,533	16,380	29,736	28,193	14,432	17,545	31,977	16,161	18,918	35,079	17,699	19,912	37,611	18,804	22,036	40,840	18,646	22,272	40,918
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	359	-5,798	-1,631	-2,579	-1,351	522	-829	-325	621	296	-430	983	553	-64	2,088	2,024	-368	1,929	1,561
Operating Margin	1.04%	-35.4%	-5.48%	-9.15%	-9.36%	2.98%	-2.59%	-2.01%	3.28%	0.84%	-2.43%	4.94%	1.47%	-0.34%	9.48%	4.96%	-1.97%	8.66%	3.81%
Earnings before Tax (EBT)	-	-9,118	-	-3,945	-1,271	-	-	-304	-	532	-1,895	-	-	28	-	2,178	-494	-	-
Net income	-1,501	-7,115	-2,162	-3,501	-1,186	180	-1,006	-618	302	-316	-1,916	-1,144	-3,060	-215	1,396	1,181	-840	-	-
Net margin	-4.35%	-43.44%	-7.27%	-12.42%	-8.22%	1.03%	-3.15%	-3.82%	1.6%	-0.9%	-10.83%	-5.75%	-8.14%	-1.14%	6.34%	2.89%	-4.5%	-	-
EPS	-	-360.2	-	-177.2	-59.98	9.100	-	-31.28	-	-16.00	-96.95	-	-	-10.88	-	59.75	-42.45	-	-
Dividend per Share	-	15.00	-	15.00	-	-	-	-	-	5.000	-	-	5.000	-	-	5.000	-	-	-
Announcement Date	10/04/20	07/10/20	09/04/21	06/10/21	12/01/22	08/04/22	08/04/22	06/07/22	05/10/22	05/10/22	13/01/23	12/04/23	12/04/23	12/07/23	11/10/23	11/10/23	12/01/24	10/04/24	10/04/24

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: February	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	8,605	23,359	22,938	19,777	25,015	17,216	16,705	16,153
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	0.6135 x	7.145 x	3.226 x	1.812 x	1.836 x	1.059 x	0.9411 x	0.8479 x
Free Cash Flow ¹	-2,229	-6,781	-914	4,212	1,332	2,850	3,060	3,470
ROE (net income / shareholders' equity)	-1.2%	-42.8%	-31.8%	-34.4%	16.2%	27.3%	27.5%	27.2%
ROA (Net income/ Total Assets)	4.56%	-16.9%	-6.44%	-6.88%	9.05%	5.1%	5.8%	6.3%
Assets ¹	-7,125	54,851	70,032	49,076	14,525	41,830	50,575	54,497
Book Value Per Share ²	1,349	845.0	592.0	402.0	420.0	551.0	669.0	805.0
Cash Flow per Share	531.0	71.90	304.0	338.0	575.0	-	-	-
Capex ¹	12,500	6,393	6,951	4,069	11,769	10,000	10,650	10,650
Capex / Sales	17.01%	13.86%	11.55%	5.6%	14.39%	11.61%	11.9%	11.46%
Announcement Date	10/04/20	09/04/21	08/04/22	12/04/23	10/04/24	-	-	-

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

Ratings for AEON Fantasy Co.,LTD.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

2,286 JPY

Average target price

3,667 JPY

Spread / Average Target

+60.40%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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