Financials MIXI, Inc. Deutsche Boerse AG

Equities

MXN

JP3882750007

Internet Services

Market Closed - Deutsche Boerse AG Other stock markets 07:13:52 26/04/2024 BST			5-day change	1st Jan Change
14 ^EUR	-2.10%		-3.45%	-4.76%

04-19	Clepseadra Inc. announced that it has received ¥150 million in funding from TV TOKYO Holdings Corporation, Bascule, Inc., UNITED, Inc., MIXI, Inc., and another investor	CI
04-17	LightFury Games announced that it has received $8.5 million in funding from Blume Venture Advisors Pvt. Ltd., MIXI, Inc., Gemba Capital and other investors	CI

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	192,744	118,223	208,780	159,832	194,183	169,085	-	-
Enterprise Value (EV) ¹	48,327	-3,581	67,894	49,321	83,046	169,085	169,085	169,085
P/E ratio	7.3 x	11 x	13.3 x	15.8 x	37.6 x	17.3 x	14 x	16 x
Yield	4.69%	7.01%	3.97%	4.99%	4.13%	5.11%	5.49%	5.51%
Capitalization / Revenue	1.34 x	1.05 x	1.75 x	1.35 x	1.32 x	1.16 x	1.18 x	1.19 x
EV / Revenue	1.34 x	1.05 x	1.75 x	1.35 x	1.32 x	1.16 x	1.18 x	1.19 x
EV / EBITDA	4.58 x	5.89 x	8.2 x	8.61 x	6.59 x	9.52 x	10.6 x	12.5 x
EV / FCF	26.4 x	-9.17 x	7.59 x	-10.8 x	14.1 x	27.1 x	18.8 x	24.1 x
FCF Yield	3.79%	-10.9%	13.2%	-9.25%	7.1%	3.69%	5.33%	4.15%
Price to Book	1.08 x	0.66 x	1.11 x	0.87 x	1.07 x	0.97 x	0.96 x	-
Nbr of stocks (in thousands)	75,350	75,350	75,372	72,552	72,946	70,306	-	-
Reference price ²	2,558	1,569	2,770	2,203	2,662	2,405	2,405	2,405
Announcement Date	10/05/19	15/05/20	07/05/21	13/05/22	12/05/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	144,032	112,171	119,319	118,099	146,867	146,223	143,800	142,300
EBITDA ¹	42,091	20,069	25,457	18,557	29,481	17,770	15,988	13,492
EBIT ¹	41,033	17,165	22,928	16,069	24,820	17,004	17,900	15,700
Operating Margin	28.49%	15.3%	19.22%	13.61%	16.9%	11.63%	12.45%	11.03%
Earnings before Tax (EBT)	39,063	15,996	23,201	16,035	11,254	-	-	-
Net income ¹	26,521	10,724	15,692	10,262	5,161	9,813	12,045	10,563
Net margin	18.41%	9.56%	13.15%	8.69%	3.51%	6.71%	8.38%	7.42%
EPS ²	350.3	142.3	208.2	139.8	70.87	139.1	171.3	150.2
Free Cash Flow ¹	7,302	-12,891	27,513	-14,789	13,788	6,240	9,004	7,016
FCF margin	5.07%	-11.49%	23.06%	-12.52%	9.39%	4.27%	6.26%	4.93%
FCF Conversion (EBITDA)	17.35%	-	108.08%	-	46.77%	35.12%	56.32%	52%
FCF Conversion (Net income)	27.53%	-	175.33%	-	267.16%	63.6%	74.76%	66.42%
Dividend per Share ²	120.0	110.0	110.0	110.0	110.0	123.0	132.0	132.5
Announcement Date	10/05/19	15/05/20	07/05/21	13/05/22	12/05/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2020 S1	2021 S1	2022 Q2	2022 S1	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 S1	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	46,835	58,752	23,221	51,587	29,502	37,010	31,022	34,712	65,734	39,068	42,065	29,207	34,761	63,968	41,241	40,310	29,825	33,325	41,575	37,975
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	4,035	14,050	1,371	7,382	1,861	6,826	5,557	5,692	11,249	7,824	5,747	2,245	1,566	3,811	6,664	6,600	750	2,475	7,025	5,325
Operating Margin	8.62%	23.91%	5.9%	14.31%	6.31%	18.44%	17.91%	16.4%	17.11%	20.03%	13.66%	7.69%	4.51%	5.96%	16.16%	16.37%	2.51%	7.43%	16.9%	14.02%
Earnings before Tax (EBT)	3,978	13,994	-	9,063	2,140	-	5,326	-	4,046	2,349	-	2,212	-	3,633	4,423	-	-	-	-	-
Net income ¹	2,192	9,333	2,113	6,167	1,261	2,834	3,524	-1,564	1,960	60	3,141	1,315	935	2,250	2,417	5,083	2,100	1,900	4,200	4,500
Net margin	4.68%	15.89%	9.1%	11.95%	4.27%	7.66%	11.36%	-4.51%	2.98%	0.15%	7.47%	4.5%	2.69%	3.52%	5.86%	12.61%	7.04%	5.7%	10.1%	11.85%
EPS	29.09	123.9	-	83.11	17.75	-	48.57	-	26.96	0.8000	-	18.12	-	31.37	34.13	-	-	-	-	-
Dividend per Share	55.00	55.00	-	55.00	-	-	-	-	55.00	-	-	-	-	55.00	-	-	-	-	-	-
Announcement Date	08/11/19	06/11/20	05/11/21	05/11/21	04/02/22	13/05/22	05/08/22	04/11/22	04/11/22	10/02/23	12/05/23	04/08/23	10/11/23	10/11/23	09/02/24	-	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	144,417	121,804	140,886	110,511	111,137	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	7,302	-12,891	27,513	-14,789	13,788	6,241	9,004	7,017
ROE (net income / shareholders' equity)	15.2%	6%	8.5%	5.5%	2.8%	5.4%	6.2%	5.6%
ROA (Net income/ Total Assets)	21.4%	8.64%	10.8%	7.66%	8.29%	5.85%	4.6%	-
Assets ¹	123,895	124,145	145,315	133,929	62,268	167,738	261,841	-
Book Value Per Share ²	2,368	2,388	2,498	2,524	2,481	2,492	2,500	-
Cash Flow per Share ²	364.0	171.0	250.0	182.0	117.0	145.0	200.0	172.0
Capex ¹	3,512	9,934	4,798	3,894	1,963	5,270	5,370	5,470
Capex / Sales	2.44%	8.86%	4.02%	3.3%	1.34%	3.6%	3.73%	3.84%
Announcement Date	10/05/19	15/05/20	07/05/21	13/05/22	12/05/23	-	-	-

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

Ratings for MIXI, Inc.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

2,405 JPY

Average target price

2,467 JPY

Spread / Average Target

+2.56%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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