PATH CORPORATION |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 145 JPY | +1.40% |
|
-2.03% | -8.81% |
| 2023 | Path Corporation Reports Earnings Results for the Full Year Ended March 31, 2023 | CI |
| 2023 | Path Corporation completed the acquisition of RMDC Co., Ltd from Eill Co., Ltd. | CI |
Valuation
| Fiscal Period: Marzo | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 3,154 | 4,208 | 3,474 | 4,612 | 2,364 | 2,992 |
| Enterprise Value (EV) 1 | 1,461 | 2,941 | 3,223 | 4,407 | 2,519 | 2,820 |
| P/E ratio | -285 x | 26.8 x | -4.47 x | -8.17 x | -3.06 x | -10.8 x |
| Yield | - | - | - | - | - | - |
| Capitalization / Revenue | 0.92 x | 1.14 x | 1.4 x | 2.09 x | 1.12 x | 1.5 x |
| EV / Revenue | 0.43 x | 0.8 x | 1.3 x | 2 x | 1.19 x | 1.42 x |
| EV / EBITDA | 14.5 x | 38.7 x | -4.05 x | -8.43 x | -3.96 x | -14.4 x |
| EV / FCF | 8.42 x | 11.4 x | -3.22 x | -14.1 x | -4.39 x | -7.31 x |
| FCF Yield | 11.9% | 8.78% | -31.1% | -7.1% | -22.8% | -13.7% |
| Price to Book | 2.49 x | 2.77 x | 4.67 x | 7.05 x | 5.04 x | 2.77 x |
| Nbr of stocks (in thousands) | 20,482 | 28,240 | 28,240 | 30,750 | 36,945 | 50,710 |
| Reference price 2 | 154.0 | 149.0 | 123.0 | 150.0 | 64.00 | 59.00 |
| Announcement Date | 27/06/18 | 01/07/19 | 31/08/20 | 30/06/21 | 30/06/22 | 30/06/23 |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: Marzo | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 3,412 | 3,678 | 2,483 | 2,208 | 2,114 | 1,991 |
| EBITDA 1 | 101 | 76 | -796 | -523 | -637 | -196 |
| EBIT 1 | 20 | 5 | -875 | -539 | -666 | -221 |
| Operating Margin | 0.59% | 0.14% | -35.24% | -24.41% | -31.5% | -11.1% |
| Earnings before Tax (EBT) 1 | 45 | 279 | -768 | -537 | -742 | -253 |
| Net income 1 | -11 | 157 | -777 | -538 | -745 | -256 |
| Net margin | -0.32% | 4.27% | -31.29% | -24.37% | -35.24% | -12.86% |
| EPS 2 | -0.5412 | 5.559 | -27.51 | -18.35 | -20.93 | -5.464 |
| Free Cash Flow 1 | 173.5 | 258.1 | -1,001 | -312.9 | -574.1 | -385.8 |
| FCF margin | 5.08% | 7.02% | -40.31% | -14.17% | -27.16% | -19.37% |
| FCF Conversion (EBITDA) | 171.78% | 339.64% | - | - | - | - |
| FCF Conversion (Net income) | - | 164.41% | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - |
| Announcement Date | 27/06/18 | 01/07/19 | 31/08/20 | 30/06/21 | 30/06/22 | 30/06/23 |
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 | 1,365 | 1,071 | 1,143 | 459 | 533 | 1,006 | 441 | 563 | 1,105 | 666 |
| EBITDA | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | -74 | -256 | -321 | -185 | -31 | -90 | -64 | -52 | -115 | -12 |
| Operating Margin | -5.42% | -23.9% | -28.08% | -40.31% | -5.82% | -8.95% | -14.51% | -9.24% | -10.41% | -1.8% |
| Earnings before Tax (EBT) 1 | -85 | -258 | -367 | -189 | -42 | -101 | -91 | -37 | -101 | -15 |
| Net income 1 | -82 | -258 | -369 | -190 | -43 | -102 | -91 | -39 | -104 | -22 |
| Net margin | -6.01% | -24.09% | -32.28% | -41.39% | -8.07% | -10.14% | -20.63% | -6.93% | -9.41% | -3.3% |
| EPS 2 | -2.910 | -9.160 | -10.77 | -5.140 | -1.000 | -2.280 | -1.960 | -0.7600 | -2.000 | -0.4100 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 14/11/19 | 13/11/20 | 15/11/21 | 14/02/22 | 15/08/22 | 14/11/22 | 14/02/23 | 14/08/23 | 14/11/23 | 14/02/24 |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | 155 | - |
| Net Cash position 1 | 1,693 | 1,267 | 251 | 205 | - | 172 |
| Leverage (Debt/EBITDA) | - | - | - | - | -0.2433 x | - |
| Free Cash Flow 1 | 174 | 258 | -1,001 | -313 | -574 | -386 |
| ROE (net income / shareholders' equity) | 4.67% | 14.7% | -69.1% | -76% | -130% | -32.7% |
| ROA (Net income/ Total Assets) | 0.58% | 0.11% | -27.7% | -29.7% | -35.6% | -10.2% |
| Assets 1 | -1,890 | 139,556 | 2,805 | 1,811 | 2,090 | 2,522 |
| Book Value Per Share 2 | 61.80 | 53.90 | 26.30 | 21.30 | 12.70 | 21.30 |
| Cash Flow per Share 2 | 60.00 | 45.00 | 8.890 | 6.480 | 9.340 | 3.340 |
| Capex 1 | 12 | 11 | 18 | 34 | 20 | 115 |
| Capex / Sales | 0.35% | 0.3% | 0.72% | 1.54% | 0.95% | 5.78% |
| Announcement Date | 27/06/18 | 01/07/19 | 31/08/20 | 30/06/21 | 30/06/22 | 30/06/23 |
1JPY in Million2JPY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
| 1st Jan change | Capi. | |
|---|---|---|
| -8.81% | 51.86M | |
| -0.68% | 264B | |
| +19.72% | 20.89B | |
| 0.00% | 19.67B | |
| +15.62% | 12.52B | |
| -14.17% | 9.53B | |
| +19.93% | 8.03B | |
| +10.20% | 6.01B | |
| -2.43% | 4.49B | |
| -13.55% | 4.01B |
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