BST:FIX

Stock Analysis Report

Executive Summary

Fixstars Corporation operates as a software company in Japan and internationally.


Snowflake Analysis

Flawless balance sheet with high growth potential.

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

0%

FIX

-8.3%

DE Software

-6.8%

DE Market


1 Year Return

41.8%

FIX

27.2%

DE Software

6.5%

DE Market

Return vs Industry: FIX exceeded the German Software industry which returned 27.2% over the past year.

Return vs Market: FIX exceeded the German Market which returned 6.5% over the past year.


Shareholder returns

FIXIndustryMarket
7 Day0%-8.3%-6.8%
30 Day0%-2.7%-3.7%
90 Day7.7%-1.9%-3.6%
1 Year42.4%41.8%28.9%27.2%9.8%6.5%
3 Year168.7%164.6%43.7%37.9%6.8%-2.6%
5 Year260.1%248.5%110.2%95.3%12.5%-2.9%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

52.64x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: FIX (€14) is trading above our estimate of fair value (€13.96)

Significantly Below Fair Value: FIX is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: FIX is poor value based on its PE Ratio (52.6x) compared to the Software industry average (42.9x).

PE vs Market: FIX is poor value based on its PE Ratio (52.6x) compared to the German market (20x).


Price to Earnings Growth Ratio

PEG Ratio: FIX is poor value based on its PEG Ratio (2.6x)


Price to Book Ratio

PB vs Industry: FIX is overvalued based on its PB Ratio (13.1x) compared to the DE Software industry average (3.1x).


Next Steps

Future Growth

How is Fixstars forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

20.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FIX's forecast earnings growth (20.4% per year) is above the savings rate (-0.4%).

Earnings vs Market: FIX's earnings (20.4% per year) are forecast to grow faster than the German market (13.1% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: FIX's revenue (9.8% per year) is forecast to grow faster than the German market (5.1% per year).

High Growth Revenue: FIX's revenue (9.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FIX's Return on Equity is forecast to be high in 3 years time (20.6%)


Next Steps

Past Performance

How has Fixstars performed over the past 5 years?

19.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FIX has a high level of non-cash earnings.

Growing Profit Margin: FIX's current net profit margins (12.2%) are lower than last year (14.1%).


Past Earnings Growth Analysis

Earnings Trend: FIX's earnings have grown by 19.1% per year over the past 5 years.

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

Earnings vs Industry: FIX had negative earnings growth (-5.2%) over the past year, making it difficult to compare to the Software industry average (14.6%).


Return on Equity

High ROE: FIX's Return on Equity (25.3%) is considered high.


Next Steps

Financial Health

How is Fixstars's financial position?


Financial Position Analysis

Short Term Liabilities: FIX's short term assets (¥3.2B) exceed its short term liabilities (¥588.0M).

Long Term Liabilities: FIX's short term assets (¥3.2B) exceed its long term liabilities (¥2.0M).


Debt to Equity History and Analysis

Debt Level: FIX is debt free.

Reducing Debt: FIX has no debt compared to 5 years ago when its debt to equity ratio was 4%.

Debt Coverage: FIX has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: FIX has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet

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

Debt Coverage by Assets: Insufficient data to determine if FIX's debt is covered by short term assets.


Next Steps

Dividend

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

0.40%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: FIX's dividend (0.4%) isn’t notable compared to the bottom 25% of dividend payers in the German market (1.46%).

High Dividend: FIX's dividend (0.4%) is low compared to the top 25% of dividend payers in the German market (3.81%).


Stability and Growth of Payments

Stable Dividend: FIX is not paying a notable dividend for the German market, therefore no need to check if payments are stable.

Growing Dividend: FIX is not paying a notable dividend for the German market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: FIX is not paying a notable dividend for the German market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of FIX's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

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

12.8yrs

Average management tenure


CEO

Satoshi Miki (48yo)

17.3yrs

Tenure

Mr. Satoshi Miki serves as the Chief Executive Officer of Fixstars Solutions, Inc. Mr. Miki co-founded of Fixstars Corporation in 2002 and serves as its Chief Executive Officer. He serves as the Chief Exe ...


Leadership Team

NamePositionTenureCompensationOwnership
Satoshi Miki
Founder17.3yrsno data11.63% ¥39.9m
Minako Hori
Executive Officer12.2yrsno data1.06% ¥3.6m
Akihiro Asahara
Chief Executive Officer of Fixstars Solutions0yrsno datano data
Toshiyuki Hachisuka
Executive Officer and Director11.2yrsno data1.36% ¥4.7m
Owen Stampflee
Linux Product Manager of Fixstars Solutions4.1yrsno datano data
Yasuhiko Shiota
Executive Officer0yrsno datano data
Satoshi Hada
Executive Officer0yrsno datano data
Akihiko Tomita
Executive Officer0yrsno datano data
Daichi Furusaka
Executive Officer0yrsno datano data

12.8yrs

Average Tenure

48yo

Average Age

Experienced Management: FIX's management team is seasoned and experienced (12.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Satoshi Miki
Founder17.3yrsno data11.63% ¥39.9m
Minako Hori
Executive Officer12.2yrsno data1.06% ¥3.6m
Toshiyuki Hachisuka
Executive Officer and Director11.2yrsno data1.36% ¥4.7m
Michael Cusumano
External Director4.2yrsno datano data
Yoji Nikaido
External Auditor12.3yrsno datano data
Kyoichi Oishi
External Director10.2yrsno datano data
Hiroaki Kabashima
Outside Director0.2yrsno datano data
Yoichi Shikata
External Auditor10.2yrsno datano data
Yuzo Izumitani
External Standing Corporate Auditor6.8yrsno data0.011% ¥36.4k
Naoki Endo
Outside Director1.2yrsno datano data

10.2yrs

Average Tenure

65.5yo

Average Age

Experienced Board: FIX's board of directors are seasoned and experienced ( 10.2 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

Fixstars Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Fixstars Corporation
  • Ticker: FIX
  • Exchange: BST
  • Founded: 2002
  • Industry: Application Software
  • Sector: Software
  • Market Cap: JP¥41.284b
  • Listing Market Cap: JP¥343.368m
  • Shares outstanding: 33.03m
  • Website: https://www.fixstars.com

Number of Employees


Location

  • Fixstars Corporation
  • Gate City Osaki West Tower
  • 18th Floor
  • Tokyo
  • 141-0032
  • Japan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
3687TSE (The Tokyo Stock Exchange)YesCommon SharesJPJPYApr 2014
FIXBST (Boerse-Stuttgart)YesCommon SharesDEEURApr 2014

Biography

Fixstars Corporation operates as a software company in Japan and internationally. The company offers M3 technical support, processor evaluation, software development and optimization, OS firmware development support, system configuration, training for software developers, and other services. It serves in the area of automotive, flash storage, industrial, finance, healthcare, and computing. Fixstars Corporation was founded in 2002 and is headquartered in Tokyo, Japan. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/26 22:34
End of Day Share Price2020/02/26 00:00
Earnings2019/12/31
Annual Earnings2019/09/30


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.