Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥5,780, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 12x in the Professional Services industry in Japan. Total returns to shareholders of 21% over the past three years. Reported Earnings • Apr 15
Full year 2026 earnings: EPS and revenues exceed analyst expectations Full year 2026 results: EPS: JP¥249 (up from JP¥202 in FY 2025). Revenue: JP¥148.3b (up 28% from FY 2025). Net income: JP¥37.8b (up 23% from FY 2025). Profit margin: 26% (down from 27% in FY 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) also surpassed analyst estimates by 2.6%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Professional Services industry in Japan. Announcement • Apr 14
Baycurrent, Inc., Annual General Meeting, May 27, 2026 Baycurrent, Inc., Annual General Meeting, May 27, 2026. Announcement • Apr 07
Baycurrent, Inc. to Report Fiscal Year 2026 Results on Apr 14, 2026 Baycurrent, Inc. announced that they will report fiscal year 2026 results on Apr 14, 2026 Price Target Changed • Mar 11
Price target decreased by 8.5% to JP¥8,056 Down from JP¥8,800, the current price target is an average from 9 analysts. New target price is 76% above last closing price of JP¥4,578. Stock is down 25% over the past year. The company is forecast to post earnings per share of JP¥247 for next year compared to JP¥202 last year. New Risk • Feb 25
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 8.4% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Upcoming Dividend • Feb 19
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 26 February 2026. Payment date: 28 May 2026. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.5%). Valuation Update With 7 Day Price Move • Feb 04
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to JP¥5,084, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 13x in the Professional Services industry in Japan. Total loss to shareholders of 4.3% over the past three years. Declared Dividend • Nov 29
First half dividend of JP¥50.00 announced Shareholders will receive a dividend of JP¥50.00. Ex-date: 26th February 2026 Payment date: 28th May 2026 Dividend yield will be 1.5%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is well covered by both earnings (38% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has increased by an average of 42% per year over the past 6 years and payments have been stable during that time. EPS is expected to grow by 77% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Nov 22
Baycurrent, Inc. to Report Q3, 2026 Results on Jan 14, 2026 Baycurrent, Inc. announced that they will report Q3, 2026 results on Jan 14, 2026 Buy Or Sell Opportunity • Oct 16
Now 25% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.8% to JP¥7,648. The fair value is estimated to be JP¥10,192, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last year. Earnings per share has grown by 26%. Revenue is forecast to grow by 51% in 2 years. Earnings are forecast to grow by 51% in the next 2 years. Buy Or Sell Opportunity • Sep 08
Now 20% undervalued Over the last 90 days, the stock has risen 8.6% to JP¥8,276. The fair value is estimated to be JP¥10,346, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last year. Earnings per share has grown by 26%. Revenue is forecast to grow by 52% in 2 years. Earnings are forecast to grow by 50% in the next 2 years. Announcement • Aug 23
Baycurrent, Inc. to Report Q2, 2026 Results on Oct 15, 2025 Baycurrent, Inc. announced that they will report Q2, 2026 results on Oct 15, 2025 Buy Or Sell Opportunity • Aug 21
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.2% to JP¥8,284. The fair value is estimated to be JP¥10,361, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last year. Earnings per share has grown by 26%. Revenue is forecast to grow by 52% in 2 years. Earnings are forecast to grow by 50% in the next 2 years. Upcoming Dividend • Aug 21
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 28 August 2025. Payment date: 01 December 2025. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (1.1%). Buy Or Sell Opportunity • Jul 29
Now 20% undervalued Over the last 90 days, the stock has risen 8.3% to JP¥8,330. The fair value is estimated to be JP¥10,468, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last year. Earnings per share has grown by 26%. For the next 3 years, revenue is forecast to grow by 18% per annum. Earnings are also forecast to grow by 19% per annum over the same time period. Reported Earnings • Jul 16
First quarter 2026 earnings released: EPS: JP¥59.32 (vs JP¥43.90 in 1Q 2025) First quarter 2026 results: EPS: JP¥59.32 (up from JP¥43.90 in 1Q 2025). Revenue: JP¥34.3b (up 27% from 1Q 2025). Net income: JP¥9.02b (up 35% from 1Q 2025). Profit margin: 26% (up from 25% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Professional Services industry in Japan. Declared Dividend • Jun 18
Final dividend of JP¥50.00 announced Shareholders will receive a dividend of JP¥50.00. Ex-date: 28th August 2025 Payment date: 1st December 2025 Dividend yield will be 1.2%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (31% earnings payout ratio) and cash flows (48% cash payout ratio). The dividend has increased by an average of 53% per year over the past 5 years and payments have been stable during that time. EPS is expected to grow by 66% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • Jun 01
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Chairman Yoshiyuki Abe was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Buy Or Sell Opportunity • May 30
Now 22% undervalued Over the last 90 days, the stock has risen 21% to JP¥7,706. The fair value is estimated to be JP¥9,824, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 18% per annum. Earnings are also forecast to grow by 18% per annum over the same time period. Announcement • May 27
Baycurrent, Inc. to Report Q1, 2026 Results on Jul 15, 2025 Baycurrent, Inc. announced that they will report Q1, 2026 results on Jul 15, 2025 Price Target Changed • May 27
Price target increased by 12% to JP¥8,740 Up from JP¥7,770, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of JP¥8,449. Stock is up 154% over the past year. The company is forecast to post earnings per share of JP¥251 for next year compared to JP¥202 last year. Reported Earnings • Apr 11
Full year 2025 earnings released: EPS: JP¥202 (vs JP¥161 in FY 2024) Full year 2025 results: EPS: JP¥202 (up from JP¥161 in FY 2024). Revenue: JP¥116.1b (up 24% from FY 2024). Net income: JP¥30.8b (up 25% from FY 2024). Profit margin: 27% (in line with FY 2024). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 23% per year whereas the company’s share price has increased by 25% per year. Announcement • Apr 11
Baycurrent, Inc. (TSE:6532) announces an Equity Buyback for 470,000 shares, representing 0.31% for ¥3,000 million. BayCurrent Consulting, Inc. (TSE:6532) announces a share repurchase program. Under the program, the company will repurchase up to 470,000 shares, representing 0.31% of its issued share capital (excluding treasury stock), for a total purchase price of ¥3,000 million. The purpose of the program is to improve capital efficiency in addition to enhancing return of profit to shareholders by increasing shareholder value per share. The program will continue through May 23, 2025. As of March 31, 2025, the company had 152,058,321 issued shares (excluding treasury stock) and 3,353,089 treasury shares. Announcement • Feb 21
Baycurrent, Inc. to Report Fiscal Year 2025 Results on Apr 10, 2025 Baycurrent, Inc. announced that they will report fiscal year 2025 results on Apr 10, 2025 Upcoming Dividend • Feb 20
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 27 February 2025. Payment date: 29 May 2025. Trailing yield: 0.7%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (0.9%). Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to JP¥5,960, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 14x in the Professional Services industry in Japan. Total returns to shareholders of 53% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥9,697 per share. Reported Earnings • Jan 15
Third quarter 2025 earnings released: EPS: JP¥53.51 (vs JP¥41.38 in 3Q 2024) Third quarter 2025 results: EPS: JP¥53.51 (up from JP¥41.38 in 3Q 2024). Revenue: JP¥29.4b (up 23% from 3Q 2024). Net income: JP¥8.14b (up 29% from 3Q 2024). Profit margin: 28% (up from 26% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Dec 12
BayCurrent Consulting, Inc. to Report Q3, 2025 Results on Jan 14, 2025 BayCurrent Consulting, Inc. announced that they will report Q3, 2025 results on Jan 14, 2025 Price Target Changed • Nov 06
Price target increased by 7.5% to JP¥6,770 Up from JP¥6,300, the current price target is an average from 5 analysts. New target price is 34% above last closing price of JP¥5,043. Stock is up 17% over the past year. The company is forecast to post earnings per share of JP¥203 for next year compared to JP¥161 last year. Price Target Changed • Sep 10
Price target increased by 9.6% to JP¥6,300 Up from JP¥5,750, the current price target is an average from 6 analysts. New target price is 30% above last closing price of JP¥4,830. Stock is down 5.1% over the past year. The company is forecast to post earnings per share of JP¥202 for next year compared to JP¥161 last year. Announcement • Aug 26
BayCurrent Consulting, Inc. to Report Q2, 2025 Results on Oct 11, 2024 BayCurrent Consulting, Inc. announced that they will report Q2, 2025 results on Oct 11, 2024 Upcoming Dividend • Aug 22
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 29 August 2024. Payment date: 02 December 2024. Trailing yield: 1.2%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.0%). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥3,846, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 15x in the Professional Services industry in Japan. Total loss to shareholders of 11% over the past three years. Reported Earnings • Jul 15
First quarter 2025 earnings released: EPS: JP¥45.70 (vs JP¥36.01 in 1Q 2024) First quarter 2025 results: EPS: JP¥45.70 (up from JP¥36.01 in 1Q 2024). Revenue: JP¥27.3b (up 26% from 1Q 2024). Net income: JP¥6.97b (up 27% from 1Q 2024). Profit margin: 26% (in line with 1Q 2024). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. New Risk • Jul 12
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 8.8% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.8% average weekly change). High level of non-cash earnings (25% accrual ratio). Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥4,323, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 16x in the Professional Services industry in Japan. Total returns to shareholders of 15% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥8,596 per share. Reported Earnings • Jun 01
Full year 2024 earnings released: EPS: JP¥161 (vs JP¥137 in FY 2023) Full year 2024 results: EPS: JP¥161 (up from JP¥137 in FY 2023). Revenue: JP¥93.9b (up 23% from FY 2023). Net income: JP¥24.6b (up 17% from FY 2023). Profit margin: 26% (down from 28% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • May 16
BayCurrent Consulting, Inc. to Report Q1, 2025 Results on Jul 12, 2024 BayCurrent Consulting, Inc. announced that they will report Q1, 2025 results on Jul 12, 2024 Reported Earnings • Apr 14
Full year 2024 earnings released: EPS: JP¥166 (vs JP¥137 in FY 2023) Full year 2024 results: EPS: JP¥166 (up from JP¥137 in FY 2023). Revenue: JP¥93.9b (up 23% from FY 2023). Net income: JP¥25.4b (up 21% from FY 2023). Profit margin: 27% (in line with FY 2023). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Apr 14
BayCurrent Consulting, Inc., Annual General Meeting, May 28, 2024 BayCurrent Consulting, Inc., Annual General Meeting, May 28, 2024. Announcement • Apr 12
BayCurrent Consulting, Inc. (TSE:6532) announces an Equity Buyback for 1,200,000 shares, representing 0.79% for ¥3,600 million. BayCurrent Consulting, Inc. (TSE:6532) announces a share repurchase program. Under the program, the company will repurchase up to 1,200,000 shares, representing 0.79% of its issued share capital (excluding treasury stock), for a total purchase price of ¥3,600 million. The purpose of the program is to improve capital efficiency, increase shareholder value per share, and enhance the return of profits to shareholders. The program will continue through May 24, 2024. As of March 31, 2024, the company had 152,783,446 issued shares (excluding treasury stock) and 2,627,964 treasury shares. Upcoming Dividend • Feb 21
Upcoming dividend of JP¥22.00 per share Eligible shareholders must have bought the stock before 28 February 2024. Payment date: 29 May 2024. Trailing yield: 1.3%. Lower than top quartile of Japanese dividend payers (3.3%). In line with average of industry peers (1.2%). Announcement • Feb 17
BayCurrent Consulting, Inc. to Report Fiscal Year 2024 Results on Apr 12, 2024 BayCurrent Consulting, Inc. announced that they will report fiscal year 2024 results on Apr 12, 2024 Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to JP¥3,513, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 17x in the Professional Services industry in Japan. Total returns to shareholders of 89% over the past three years. New Risk • Jan 15
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 8.3% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Reported Earnings • Jan 14
Third quarter 2024 earnings released: EPS: JP¥43.43 (vs JP¥38.41 in 3Q 2023) Third quarter 2024 results: EPS: JP¥43.43 (up from JP¥38.41 in 3Q 2023). Revenue: JP¥24.0b (up 20% from 3Q 2023). Net income: JP¥6.64b (up 13% from 3Q 2023). Profit margin: 28% (down from 30% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 34% per year whereas the company’s share price has increased by 37% per year. Announcement • Nov 19
BayCurrent Consulting, Inc. to Report Q3, 2024 Results on Jan 12, 2024 BayCurrent Consulting, Inc. announced that they will report Q3, 2024 results on Jan 12, 2024 Valuation Update With 7 Day Price Move • Oct 20
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥3,969, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 16x in the Professional Services industry in Japan. Total returns to shareholders of 155% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥7,175 per share. Reported Earnings • Oct 15
Second quarter 2024 earnings released: EPS: JP¥36.83 (vs JP¥27.70 in 2Q 2023) Second quarter 2024 results: EPS: JP¥36.83 (up from JP¥27.70 in 2Q 2023). Revenue: JP¥22.0b (up 26% from 2Q 2023). Net income: JP¥5.63b (up 33% from 2Q 2023). Profit margin: 26% (up from 24% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 38% per year whereas the company’s share price has increased by 40% per year. Upcoming Dividend • Aug 23
Upcoming dividend of JP¥18.00 per share at 0.8% yield Eligible shareholders must have bought the stock before 30 August 2023. Payment date: 30 November 2023. Trailing yield: 0.8%. Lower than top quartile of Japanese dividend payers (3.5%). Lower than average of industry peers (1.3%). Announcement • Aug 10
BayCurrent Consulting, Inc. to Report Q2, 2024 Results on Oct 13, 2023 BayCurrent Consulting, Inc. announced that they will report Q2, 2024 results on Oct 13, 2023 Buying Opportunity • Jul 18
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 6.1%. The fair value is estimated to be JP¥5,940, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 41%. For the next 3 years, revenue is forecast to grow by 19% per annum. Earnings is also forecast to grow by 20% per annum over the same time period. Reported Earnings • Jul 16
First quarter 2024 earnings released: EPS: JP¥38.05 (vs JP¥28.06 in 1Q 2023) First quarter 2024 results: EPS: JP¥38.05 (up from JP¥28.06 in 1Q 2023). Revenue: JP¥21.7b (up 24% from 1Q 2023). Net income: JP¥5.83b (up 35% from 1Q 2023). Profit margin: 27% (up from 25% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has increased by 60% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jun 02
Full year 2023 earnings released: EPS: JP¥137 (vs JP¥95.69 in FY 2022) Full year 2023 results: EPS: JP¥137 (up from JP¥95.69 in FY 2022). Revenue: JP¥76.1b (up 32% from FY 2022). Net income: JP¥21.0b (up 43% from FY 2022). Profit margin: 28% (up from 26% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has increased by 87% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 19
BayCurrent Consulting, Inc. to Report Q1, 2024 Results on Jul 14, 2023 BayCurrent Consulting, Inc. announced that they will report Q1, 2024 results on Jul 14, 2023 Reported Earnings • Apr 16
Full year 2023 earnings released: EPS: JP¥143 (vs JP¥95.69 in FY 2022) Full year 2023 results: EPS: JP¥143 (up from JP¥95.69 in FY 2022). Revenue: JP¥76.1b (up 32% from FY 2022). Net income: JP¥21.9b (up 49% from FY 2022). Profit margin: 29% (up from 26% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has increased by 96% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Apr 04
Now 20% undervalued Over the last 90 days, the stock is up 30%. The fair value is estimated to be JP¥6,588, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 46%. For the next 3 years, revenue is forecast to grow by 24% per annum. Earnings is also forecast to grow by 25% per annum over the same time period. Buying Opportunity • Mar 20
Now 20% undervalued Over the last 90 days, the stock is up 16%. The fair value is estimated to be JP¥6,603, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 46%. For the next 3 years, revenue is forecast to grow by 24% per annum. Earnings is also forecast to grow by 25% per annum over the same time period. Price Target Changed • Mar 09
Price target increased by 8.0% to JP¥5,613 Up from JP¥5,199, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of JP¥5,800. Stock is up 44% over the past year. The company is forecast to post earnings per share of JP¥135 for next year compared to JP¥95.69 last year. Buying Opportunity • Feb 27
Now 21% undervalued Over the last 90 days, the stock is up 18%. The fair value is estimated to be JP¥6,801, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 46%. For the next 3 years, revenue is forecast to grow by 24% per annum. Earnings is also forecast to grow by 25% per annum over the same time period. Upcoming Dividend • Feb 20
Upcoming dividend of JP¥16.00 per share at 0.5% yield Eligible shareholders must have bought the stock before 27 February 2023. Payment date: 30 May 2023. Trailing yield: 0.5%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (1.2%). Announcement • Feb 03
BayCurrent Consulting, Inc. to Report Fiscal Year 2023 Results on Apr 14, 2023 BayCurrent Consulting, Inc. announced that they will report fiscal year 2023 results on Apr 14, 2023 Price Target Changed • Jan 24
Price target increased by 7.2% to JP¥5,541 Up from JP¥5,170, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of JP¥5,710. Stock is up 42% over the past year. The company is forecast to post earnings per share of JP¥137 for next year compared to JP¥95.69 last year. Buying Opportunity • Jan 20
Now 20% undervalued Over the last 90 days, the stock is up 49%. The fair value is estimated to be JP¥6,945, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 46%. For the next 3 years, revenue is forecast to grow by 25% per annum. Earnings is also forecast to grow by 25% per annum over the same time period. Price Target Changed • Jan 18
Price target increased to JP¥5,513 Up from JP¥5,065, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of JP¥5,470. Stock is up 29% over the past year. The company is forecast to post earnings per share of JP¥137 for next year compared to JP¥95.69 last year. Reported Earnings • Jan 14
Third quarter 2023 earnings released: EPS: JP¥40.51 (vs JP¥27.16 in 3Q 2022) Third quarter 2023 results: EPS: JP¥40.51 (up from JP¥27.16 in 3Q 2022). Revenue: JP¥19.9b (up 33% from 3Q 2022). Net income: JP¥6.21b (up 49% from 3Q 2022). Profit margin: 31% (up from 28% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has increased by 81% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Dec 21
Investor sentiment deteriorated over the past week After last week's 17% share price decline to JP¥4,315, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 18x in the Professional Services industry in Japan. Total returns to shareholders of 688% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥4,372 per share. Announcement • Nov 20
BayCurrent Consulting, Inc. to Report Q3, 2023 Results on Jan 13, 2023 BayCurrent Consulting, Inc. announced that they will report Q3, 2023 results on Jan 13, 2023 
