Arigatou Services Co Ltd

TSE:3177

日本 / 非必需消费品 / 酒店、餐厅与休闲

概况

股息

5年收入现金流贴现退出法

股票价格

3,205.00 JPY

公允价值

4,556.66 JPY

Metrics	Range	Conclusion
Discount Rate	8.5% - 7.5%	8.0%
Terminal Revenue Multiple	0.3x - 0.4x	0.3x
Fair Value	4,348¥ - 4,772¥	4,557¥
Upside	35.7% - 48.9%	42.2%

2.3%

Revenue 5y CAGR

8.7%

5y Avg EBITDA Margin

7.2%

Unlevered FCF 5y CAGR

5-Year DCF Model: Revenue Exit

股票价格

3,205.00 JPY

公允价值

4,556.66 JPY

看涨

42.2%

Revenue and EBITDA

CapEx

Working Capital

D&A

Tax Rate

Discount Rate

Terminal Value


Select Revenue and EBITDA Forecast

(JPY in millions)		Input Projections
Fiscal Years Ending	Feb-24	Feb-25	Feb-26	Feb-27	Feb-28	Feb-29

Revenue	9,730	10,071	10,272	10,477	10,687	10,901
% Growth	5.9%	3.5%	2.0%	2.0%	2.0%	2.0%

EBITDA	938	879	897	915	933	952
% of Revenue	9.6%	8.7%	8.7%	8.7%	8.7%	8.7%

支持的计算方式

Calculation of Free Cash Flow

Discounting Periods

Discounting Factors

Calculation of Enterprise Value

Equity Waterfall

Historical Financials

Current Trading Multiples


Calculation of Free Cash Flow

Projected Unlevered Cash Flow
(JPY in millions)		Feb-25	Feb-26	Feb-27	Feb-28	Feb-29

EBITDA		879	897	915	933	952
Other Income / (Exp)		0	0	0	0	0
D&A		(222)	(226)	(231)	(236)	(240)

EBIT		657	670	684	697	711
Pro forma Taxes		(217)	(221)	(226)	(230)	(235)
NOPAT	486	440	449	458	467	477

Capital Expenditures	(500)	(427)	(454)	(463)	(472)	(482)
NWC Investment	(45)	(28)	(16)	(17)	(17)	(17)
(+) D&A	212	222	226	231	236	240

Free Cash Flow	154	208	205	209	213	218
% Growth		35%	-1%	2%	2%	2%

加载出错

Arigatou Services Co Ltd

TSE:3177

日本 / 非必需消费品 / 酒店、餐厅与休闲

5年收入现金流贴现退出法