DB:YC3

Stock Analysis Report

Concordia Financial Group

Executive Summary

Concordia Financial Group, Ltd., through its subsidiaries, provides various banking products and services to individual and corporate customers.

Snowflake

Excellent balance sheet and good value.


Similar Companies

Share Price & News

How has Concordia Financial Group's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: YC3 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-1.6%

YC3

-5.0%

DE Banks

0.03%

DE Market


1 Year Return

-7.7%

YC3

-26.6%

DE Banks

9.9%

DE Market

Return vs Industry: YC3 exceeded the German Banks industry which returned -26.6% over the past year.

Return vs Market: YC3 underperformed the German Market which returned 9.9% over the past year.


Shareholder returns

YC3IndustryMarket
7 Day-1.6%-5.0%0.03%
30 Day9.4%-1.3%4.4%
90 Day27.7%8.7%13.6%
1 Year-3.8%-7.7%-24.2%-26.6%13.4%9.9%
3 Year-5.9%-14.4%-16.1%-20.1%25.6%14.6%
5 Yearn/a-10.1%-31.5%36.9%18.2%

Price Volatility Vs. Market

How volatile is Concordia Financial Group's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Concordia Financial Group undervalued compared to its fair value and its price relative to the market?

22.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: YC3 (€3.72) is trading below our estimate of fair value (€4.82)

Significantly Below Fair Value: YC3 is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: YC3 is good value based on its PE Ratio (10.6x) compared to the Banks industry average (16x).

PE vs Market: YC3 is good value based on its PE Ratio (10.6x) compared to the German market (19.5x).


Price to Earnings Growth Ratio

PEG Ratio: YC3 is poor value based on its PEG Ratio (2.8x)


Price to Book Ratio

PB vs Industry: YC3 is good value based on its PB Ratio (0.5x) compared to the DE Banks industry average (0.8x).


Next Steps

Future Growth

How is Concordia Financial Group forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

3.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: YC3's forecast earnings growth (3.8% per year) is above the savings rate (0.2%).

Earnings vs Market: YC3's earnings (3.8% per year) are forecast to grow slower than the German market (12.5% per year).

High Growth Earnings: YC3's earnings are forecast to grow, but not significantly.

Revenue vs Market: YC3's revenue is expected to decline over the next 3 years (-3.2% per year).

High Growth Revenue: YC3's revenue is forecast to decline over the next 3 years (-3.2% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: YC3's Return on Equity is forecast to be low in 3 years time (4.7%).


Next Steps

Past Performance

How has Concordia Financial Group performed over the past 5 years?

-15.8%

Last years earnings growth


Earnings and Revenue History

Quality Earnings: Insufficient data to determine if YC3 has high quality earnings.

Growing Profit Margin: YC3's current net profit margins (19.4%) are lower than last year (21.1%).


Past Earnings Growth Analysis

Earnings Trend: Insufficient data to determine if YC3's year-on-year earnings growth rate was positive over the past 5 years.

Accelerating Growth: YC3's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: YC3 had negative earnings growth (-15.8%) over the past year, making it difficult to compare to the Banks industry average (3.9%).


Return on Equity

High ROE: YC3's Return on Equity (4.6%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Concordia Financial Group's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: YC3 has a low level of unsold assets or inventory.

Debt Coverage by Assets: YC3's debt is covered by short term assets (assets are 2.1x debt).


Financial Institutions Analysis

Asset Level: YC3's level of assets compared to its equity is moderate.

Allowance for Bad Loans: YC3 has a low allowance for bad loans.

Low Risk Liabilities: YC3's liabilities are made up of primarily low risk sources of funding.

Loan Level: YC3 has an acceptable proportion of non-loan assets held.

Low Risk Deposits: YC3's loans are broadly funded by customer deposits.

Level of Bad Loans: YC3 has an appropriate level of bad loans (1.42%)


Next Steps

Dividend

What is Concordia Financial Group's current dividend yield, its reliability and sustainability?

3.52%

Current Dividend Yield


Upcoming Dividend Payment

Purchase Concordia Financial Group before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield vs Market

company3.5%marketbottom25%1.3%markettop25%3.7%industryaverage3.8%forecastin3Years3.7%

Current dividend yield vs market & industry

Notable Dividend: YC3's dividend (3.52%) is higher than the bottom 25% of dividend payers in the German market (1.33%).

High Dividend: YC3's dividend (3.52%) is low compared to the top 25% of dividend payers in the German market (3.66%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, YC3 has been paying a dividend for less than 10 years.

Growing Dividend: YC3's dividend payments have increased, but the company has only paid a dividend for 3 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (40.6%), YC3's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of Concordia Financial Group's salary, the management and board of directors tenure and is there insider trading?

1.4yrs

Average management tenure


CEO

Kenichi Kawamura (60yo)

1.4yrs

Tenure

0

Mr. Kenichi Kawamura was Representative Director, President & CEO of Bank of Yokohama Ltd. until June 19, 2018. He serves as Representative Director, President and Chief Executive Officer at Concordia Fina ...


Management Age and Tenure

1.4yrs

Average Tenure

Experienced Management: YC3's management team is not considered experienced ( 1.4 years average tenure), which suggests a new team.


Board Age and Tenure

3.6yrs

Average Tenure

61.5yo

Average Age

Experienced Board: YC3's board of directors are considered experienced (3.6 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Kenichi Kawamura (60yo)

    President

    • Tenure: 1.4yrs
  • Tadashi Komine

    Managing Executive Officer & In Charge of Corporate Planning Department

    • Tenure: 1.2yrs
  • Tatsuya Kataoka

    Executive Officer & GM of Corporate Planning Department

    • Tenure: 1.6yrs
  • Akira Yamashita

    Executive Officer

    • Tenure: 1.8yrs
  • Mitsuyoshi Tanaka

    Executive Officer

    • Tenure: 0yrs

Board Members

  • Mitsuru Akiyoshi (63yo)

    Outside Director

    • Tenure: 0.4yrs
  • Tomoo Ookanda (63yo)

    Director

    • Tenure: 1.4yrs
  • Yasutaka Nozawa (58yo)

    Director

    • Tenure: 1.4yrs
  • Yasuyoshi Oya (57yo)

    Director

    • Tenure: 3.6yrs
  • Kenichi Kawamura (60yo)

    President

    • Tenure: 1.4yrs
  • Minoru Morio (80yo)

    Outside Director

    • Tenure: 3.6yrs
  • Yoji Maekawa (60yo)

    Full-Time Audit & Supervisory Board Member

    • Tenure: 3.6yrs
  • Kenjiro Noda (73yo)

    Outside Audit & Supervisory Board Member

    • Tenure: 3.6yrs
  • Mizuho Ogata (72yo)

    Outside Audit & Supervisory Board Member

    • Tenure: 3.6yrs
  • Naoko Nemoto (59yo)

    Outside Director

    • Tenure: 1.4yrs
  • Mitsuyoshi Tanaka

    Executive Officer

    • Tenure: 0yrs

Company Information

Concordia Financial Group, Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Concordia Financial Group, Ltd.
  • Ticker: YC3
  • Exchange: DB
  • Founded: 2016
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: JP¥560.749b
  • Listing Market Cap: JP¥4.664b
  • Shares outstanding: 1.23b
  • Website: https://www.concordia-fg.jp

Number of Employees


Location

  • Concordia Financial Group, Ltd.
  • Tokyo Nihombashi Tower
  • 34th floor
  • Tokyo
  • 103-6034
  • Japan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
7186TSE (The Tokyo Stock Exchange)YesCommon SharesJPJPYApr 2016
YC3DB (Deutsche Boerse AG)YesCommon SharesDEEURApr 2016
CRDI.YOTCPK (Pink Sheets LLC)ADRUSUSDJan 2017

Biography

Concordia Financial Group, Ltd., through its subsidiaries, provides various banking products and services to individual and corporate customers. The company offers deposit products, including current, ordi ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/16 22:03
End of Day Share Price2019/11/15 00:00
Earnings2019/09/30
Annual Earnings2019/03/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.