DB:B24

Stock Analysis Report

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Executive Summary

BELLSYSTEM24 Holdings, Inc. provides outsourcing, technology, and consulting services related to CRM solutions primarily in Japan. More Details


Snowflake Analysis

Solid track record and good value.

Share Price & News

How has BELLSYSTEM24 Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: B24 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

2.2%

B24

-1.5%

DE Commercial Services

0.2%

DE Market


1 Year Return

3.5%

B24

-11.8%

DE Commercial Services

6.6%

DE Market

Return vs Industry: B24 exceeded the German Commercial Services industry which returned -11.8% over the past year.

Return vs Market: B24 underperformed the German Market which returned 6.6% over the past year.


Shareholder returns

B24IndustryMarket
7 Day2.2%-1.5%0.2%
30 Day-1.4%-2.3%2.1%
90 Day22.3%-0.5%5.6%
1 Year6.5%3.5%-10.3%-11.8%9.1%6.6%
3 Year70.7%58.3%-17.7%-23.8%6.8%-1.8%
5 Yearn/a-0.5%-12.3%38.9%20.1%

Price Volatility Vs. Market

How volatile is BELLSYSTEM24 Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is BELLSYSTEM24 Holdings undervalued compared to its fair value and its price relative to the market?

29.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: B24 (€13.7) is trading below our estimate of fair value (€19.36)

Significantly Below Fair Value: B24 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: B24 is good value based on its PE Ratio (18x) compared to the XE Commercial Services industry average (19.2x).

PE vs Market: B24 is good value based on its PE Ratio (18x) compared to the German market (22.3x).


Price to Earnings Growth Ratio

PEG Ratio: B24 is poor value based on its PEG Ratio (2.2x)


Price to Book Ratio

PB vs Industry: B24 is overvalued based on its PB Ratio (2.6x) compared to the DE Commercial Services industry average (2x).


Next Steps

Future Growth

How is BELLSYSTEM24 Holdings forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

8.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: B24's forecast earnings growth (8.2% per year) is above the savings rate (0.2%).

Earnings vs Market: B24's earnings (8.2% per year) are forecast to grow slower than the German market (27.7% per year).

High Growth Earnings: B24's earnings are forecast to grow, but not significantly.

Revenue vs Market: B24's revenue (4.5% per year) is forecast to grow slower than the German market (6% per year).

High Growth Revenue: B24's revenue (4.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: B24's Return on Equity is forecast to be low in 3 years time (14%).


Next Steps

Past Performance

How has BELLSYSTEM24 Holdings performed over the past 5 years?

1.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: B24 has high quality earnings.

Growing Profit Margin: B24's current net profit margins (5.5%) are higher than last year (4.5%).


Past Earnings Growth Analysis

Earnings Trend: B24's earnings have grown by 1.3% per year over the past 5 years.

Accelerating Growth: B24's earnings growth over the past year (28.7%) exceeds its 5-year average (1.3% per year).

Earnings vs Industry: B24 earnings growth over the past year (28.7%) exceeded the Commercial Services industry -2.1%.


Return on Equity

High ROE: B24's Return on Equity (14.4%) is considered low.


Next Steps

Financial Health

How is BELLSYSTEM24 Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: B24's short term assets (¥28.1B) do not cover its short term liabilities (¥51.8B).

Long Term Liabilities: B24's short term assets (¥28.1B) do not cover its long term liabilities (¥68.0B).


Debt to Equity History and Analysis

Debt Level: B24's debt to equity ratio (142.2%) is considered high.

Reducing Debt: B24's debt to equity ratio has reduced from 275.6% to 142.2% over the past 5 years.

Debt Coverage: B24's debt is well covered by operating cash flow (23.8%).

Interest Coverage: B24's interest payments on its debt are well covered by EBIT (32.6x coverage).


Balance Sheet


Next Steps

Dividend

What is BELLSYSTEM24 Holdings's current dividend yield, its reliability and sustainability?

2.41%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: B24's dividend (2.41%) is higher than the bottom 25% of dividend payers in the German market (1.17%).

High Dividend: B24's dividend (2.41%) is low compared to the top 25% of dividend payers in the German market (3.61%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, B24 has been paying a dividend for less than 10 years.

Growing Dividend: B24's dividend payments have increased, but the company has only paid a dividend for 5 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (43.4%), B24'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

How experienced are the management team and are they aligned to shareholders interests?

1.7yrs

Average management tenure


CEO

Shunsuke Noda

0.67

Tenure

Shunsuke Noda serves as a President, Chief Executive Officer and Representative Director of BELLSYSTEM24 Holdings, Inc. since 2020. Shunsuke Noda has been Manager of Information and Communication Unit at I ...


Leadership Team

NamePositionTenureCompensationOwnership
Shunsuke Noda
President0.67yrno datano data
Masaaki Obayashi
Corporate Officer & CFO1.67yrsno datano data
Shinsuke Kageyama
Corporate Officer & CTO0.67yrno datano data
Yasuhiro Matsuda
Chief Information Officerno datano datano data
Toyohisa Tsuji
Corporate Officer and Head of Corporate Planning0.67yrno data0.0011%
¥ 11.2k
Ichizo Matsumura
Corporate Officer and Head of Legal Affairs & Compliance Departmentno datano data0.0024%
¥ 25.2k
Akihiko Kanazawa
Executive VP4.25yrsno data0.0033%
¥ 33.6k
Noriyuki Hayata
Executive VP5yrsno data0.014%
¥ 145.8k
Hidenori Hasebe
Senior VP & Corporate Officer3.25yrsno datano data

1.7yrs

Average Tenure

61yo

Average Age

Experienced Management: B24's management team is not considered experienced ( 1.7 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Shunsuke Noda
President0.67yrno datano data
Toyohisa Tsuji
Corporate Officer and Head of Corporate Planning0.67yrno data0.0011%
¥ 11.2k
Akihiko Kanazawa
Executive VP4.25yrsno data0.0033%
¥ 33.6k
Noriyuki Hayata
Executive VP5yrsno data0.014%
¥ 145.8k
Satoko Hamaguchi
Corporate Auditor5.5yrsno data0.00054%
¥ 5.6k
Kazunori Watanabe
Outside Corporate Auditor5yrsno datano data
Nobuya Ishizaka
Independent Outside Director5yrsno datano data
Aki Tsurumaki
Independent Outside Director4.25yrsno datano data
Makiko Takahashi
Independent Outside Director3.25yrsno datano data
Takuya Yamaguchi
Independent Outside Director2.33yrsno datano data
Fumitaka Horiuchi
Outside Corporate Auditor1.67yrsno datano data
Masato Horiuchi
Independent Outside Director0.67yrno datano data

3.8yrs

Average Tenure

60yo

Average Age

Experienced Board: B24's board of directors are considered experienced (3.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

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.


Top Shareholders

Company Information

BELLSYSTEM24 Holdings, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: BELLSYSTEM24 Holdings, Inc.
  • Ticker: B24
  • Exchange: DB
  • Founded: 1982
  • Industry: Office Services and Supplies
  • Sector: Commercial Services
  • Market Cap: JP¥127.997b
  • Listing Market Cap: JP¥1.031b
  • Shares outstanding: 73.52m
  • Website: https://www.bell24hd.co.jp

Number of Employees


Location

  • BELLSYSTEM24 Holdings, Inc.
  • Harumi Island Triton Square Office Tower Y
  • 8-11 Harumi 1-chome
  • Tokyo
  • Japan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
6183TSE (The Tokyo Stock Exchange)YesCommon SharesJPJPYNov 2015
B24DB (Deutsche Boerse AG)YesCommon SharesDEEURNov 2015

Biography

BELLSYSTEM24 Holdings, Inc. provides outsourcing, technology, and consulting services related to CRM solutions primarily in Japan. It also provides BPO services based on IT/manual preparation/education and ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/09/18 03:22
End of Day Share Price2020/09/17 00:00
Earnings2020/05/31
Annual Earnings2020/02/29


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.