Reported Earnings • May 18
First quarter 2026 earnings released: EPS: JP¥10.06 (vs JP¥6.00 in 1Q 2025) First quarter 2026 results: EPS: JP¥10.06 (up from JP¥6.00 in 1Q 2025). Revenue: JP¥1.35b (flat on 1Q 2025). Net income: JP¥104.0m (up 68% from 1Q 2025). Profit margin: 7.7% (up from 4.6% in 1Q 2025). Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 1% per year. Reported Earnings • Feb 16
Full year 2025 earnings released: EPS: JP¥47.11 (vs JP¥51.66 in FY 2024) Full year 2025 results: EPS: JP¥47.11 (down from JP¥51.66 in FY 2024). Revenue: JP¥6.45b (flat on FY 2024). Net income: JP¥487.0m (down 8.8% from FY 2024). Profit margin: 7.5% (down from 8.3% in FY 2024). Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 5% per year. Announcement • Feb 13
Greenland Resort Company Limited, Annual General Meeting, Mar 27, 2026 Greenland Resort Company Limited, Annual General Meeting, Mar 27, 2026. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥9.00 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 31 March 2026. Payout ratio is a comfortable 39% but the company is paying out more than the cash it is generating. Trailing yield: 2.3%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (0.9%). Announcement • Dec 03
Greenland Resort Company Limited to Report Fiscal Year 2025 Results on Feb 13, 2026 Greenland Resort Company Limited announced that they will report fiscal year 2025 results on Feb 13, 2026 Reported Earnings • Nov 12
Third quarter 2025 earnings released: EPS: JP¥14.90 (vs JP¥26.60 in 3Q 2024) Third quarter 2025 results: EPS: JP¥14.90 (down from JP¥26.60 in 3Q 2024). Revenue: JP¥1.76b (down 6.2% from 3Q 2024). Net income: JP¥154.0m (down 44% from 3Q 2024). Profit margin: 8.8% (down from 15% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Sep 01
Greenland Resort Company Limited to Report Q3, 2025 Results on Nov 10, 2025 Greenland Resort Company Limited announced that they will report Q3, 2025 results on Nov 10, 2025 Reported Earnings • Aug 10
Second quarter 2025 earnings released: EPS: JP¥13.54 (vs JP¥12.38 in 2Q 2024) Second quarter 2025 results: EPS: JP¥13.54 (up from JP¥12.38 in 2Q 2024). Revenue: JP¥1.66b (up 1.8% from 2Q 2024). Net income: JP¥140.0m (up 9.4% from 2Q 2024). Profit margin: 8.4% (up from 7.8% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 20
Upcoming dividend of JP¥5.00 per share Eligible shareholders must have bought the stock before 27 June 2025. Payment date: 02 September 2025. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (4.0%). Higher than average of industry peers (0.8%). Announcement • Jun 03
Greenland Resort Company Limited to Report Q2, 2025 Results on Aug 08, 2025 Greenland Resort Company Limited announced that they will report Q2, 2025 results on Aug 08, 2025 Reported Earnings • May 11
First quarter 2025 earnings released: EPS: JP¥6.00 (vs JP¥6.29 in 1Q 2024) First quarter 2025 results: EPS: JP¥6.00 (down from JP¥6.29 in 1Q 2024). Revenue: JP¥1.35b (up 3.1% from 1Q 2024). Net income: JP¥62.0m (down 4.6% from 1Q 2024). Profit margin: 4.6% (down from 5.0% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Mar 27
Greenland Resort Company Limited to Report Q1, 2025 Results on May 09, 2025 Greenland Resort Company Limited announced that they will report Q1, 2025 results on May 09, 2025 Reported Earnings • Feb 16
Full year 2024 earnings released: EPS: JP¥51.66 (vs JP¥44.79 in FY 2023) Full year 2024 results: EPS: JP¥51.66 (up from JP¥44.79 in FY 2023). Revenue: JP¥6.41b (flat on FY 2023). Net income: JP¥534.0m (up 15% from FY 2023). Profit margin: 8.3% (up from 7.2% in FY 2023). Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Feb 14
Greenland Resort Company Limited, Annual General Meeting, Mar 28, 2025 Greenland Resort Company Limited, Annual General Meeting, Mar 28, 2025. Announcement • Jan 03
Greenland Resort Company Limited to Report Q4, 2024 Results on Feb 14, 2025 Greenland Resort Company Limited announced that they will report Q4, 2024 results on Feb 14, 2025 Upcoming Dividend • Dec 20
Upcoming dividend of JP¥8.00 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 31 March 2025. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (0.8%). Reported Earnings • Nov 15
Third quarter 2024 earnings released: EPS: JP¥26.60 (vs JP¥27.38 in 3Q 2023) Third quarter 2024 results: EPS: JP¥26.60 (down from JP¥27.38 in 3Q 2023). Revenue: JP¥1.87b (flat on 3Q 2023). Net income: JP¥275.0m (down 2.8% from 3Q 2023). Profit margin: 15% (in line with 3Q 2023). Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Oct 28
Now 20% overvalued Over the last 90 days, the stock has fallen 5.7% to JP¥612. The fair value is estimated to be JP¥510, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.2% over the last 3 years. Meanwhile, the company has become profitable. Announcement • Aug 27
Greenland Resort Company Limited to Report Q3, 2024 Results on Nov 11, 2024 Greenland Resort Company Limited announced that they will report Q3, 2024 results on Nov 11, 2024 Reported Earnings • Aug 14
Second quarter 2024 earnings released: EPS: JP¥12.38 (vs JP¥16.74 in 2Q 2023) Second quarter 2024 results: EPS: JP¥12.38 (down from JP¥16.74 in 2Q 2023). Revenue: JP¥1.63b (down 2.3% from 2Q 2023). Net income: JP¥128.0m (down 26% from 2Q 2023). Profit margin: 7.8% (down from 10% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to JP¥520, the stock trades at a trailing P/E ratio of 13.6x. Average trailing P/E is 23x in the Hospitality industry in Japan. Total returns to shareholders of 34% over the past three years. Upcoming Dividend • Jun 20
Upcoming dividend of JP¥5.00 per share Eligible shareholders must have bought the stock before 27 June 2024. Payment date: 02 September 2024. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (0.7%). Announcement • Jun 06
Greenland Resort Company Limited to Report Q2, 2024 Results on Aug 09, 2024 Greenland Resort Company Limited announced that they will report Q2, 2024 results on Aug 09, 2024 Reported Earnings • May 11
First quarter 2024 earnings released: EPS: JP¥6.29 (vs JP¥12.96 in 1Q 2023) First quarter 2024 results: EPS: JP¥6.29 (down from JP¥12.96 in 1Q 2023). Revenue: JP¥1.31b (flat on 1Q 2023). Net income: JP¥65.0m (down 52% from 1Q 2023). Profit margin: 5.0% (down from 10% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Announcement • Mar 28
Greenland Resort Company Limited to Report Q1, 2024 Results on May 09, 2024 Greenland Resort Company Limited announced that they will report Q1, 2024 results on May 09, 2024 Reported Earnings • Feb 17
Full year 2023 earnings released: EPS: JP¥44.79 (vs JP¥41.41 in FY 2022) Full year 2023 results: EPS: JP¥44.79 (up from JP¥41.41 in FY 2022). Revenue: JP¥6.41b (up 12% from FY 2022). Net income: JP¥463.0m (up 8.2% from FY 2022). Profit margin: 7.2% (down from 7.5% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Announcement • Feb 16
Greenland Resort Company Limited, Annual General Meeting, Mar 28, 2024 Greenland Resort Company Limited, Annual General Meeting, Mar 28, 2024. Upcoming Dividend • Dec 21
Upcoming dividend of JP¥9.00 per share at 1.9% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 01 April 2024. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (0.6%). Announcement • Dec 05
Greenland Resort Company Limited to Report Fiscal Year 2023 Results on Feb 14, 2024 Greenland Resort Company Limited announced that they will report fiscal year 2023 results on Feb 14, 2024 Reported Earnings • Nov 10
Third quarter 2023 earnings released: EPS: JP¥27.37 (vs JP¥24.28 in 3Q 2022) Third quarter 2023 results: EPS: JP¥27.37 (up from JP¥24.28 in 3Q 2022). Revenue: JP¥1.89b (up 16% from 3Q 2022). Net income: JP¥283.0m (up 13% from 3Q 2022). Profit margin: 15% (in line with 3Q 2022). Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Announcement • Aug 27
Greenland Resort Company Limited to Report Q3, 2023 Results on Nov 09, 2023 Greenland Resort Company Limited announced that they will report Q3, 2023 results on Nov 09, 2023 New Risk • Aug 17
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 19% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Earnings have declined by 28% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (JP¥6.56b market cap, or US$44.8m). Reported Earnings • Aug 13
Second quarter 2023 earnings released: EPS: JP¥16.74 (vs JP¥20.80 in 2Q 2022) Second quarter 2023 results: EPS: JP¥16.74 (down from JP¥20.80 in 2Q 2022). Revenue: JP¥1.67b (up 7.2% from 2Q 2022). Net income: JP¥173.0m (down 20% from 2Q 2022). Profit margin: 10% (down from 14% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥5.00 per share at 2.0% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 12 September 2023. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (0.5%). Announcement • May 29
Greenland Resort Company Limited to Report Q2, 2023 Results on Aug 10, 2023 Greenland Resort Company Limited announced that they will report Q2, 2023 results on Aug 10, 2023 Reported Earnings • May 12
First quarter 2023 earnings released: EPS: JP¥12.96 (vs JP¥1.26 in 1Q 2022) First quarter 2023 results: EPS: JP¥12.96 (up from JP¥1.26 in 1Q 2022). Revenue: JP¥1.30b (up 33% from 1Q 2022). Net income: JP¥134.0m (up JP¥121.0m from 1Q 2022). Profit margin: 10% (up from 1.3% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Announcement • Feb 15
Greenland Resort Company Limited, Annual General Meeting, Mar 30, 2023 Greenland Resort Company Limited, Annual General Meeting, Mar 30, 2023. Reported Earnings • Feb 15
Full year 2022 earnings released: EPS: JP¥41.40 (vs JP¥143 loss in FY 2021) Full year 2022 results: EPS: JP¥41.40 (up from JP¥143 loss in FY 2021). Revenue: JP¥5.73b (flat on FY 2021). Net income: JP¥428.0m (up JP¥1.91b from FY 2021). Profit margin: 7.5% (up from net loss in FY 2021). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥9.00 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 31 March 2023. The company is not currently making a profit but it is cash flow positive. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (0.6%). Announcement • Dec 06
Greenland Resort Company Limited to Report Fiscal Year 2022 Results on Feb 13, 2023 Greenland Resort Company Limited announced that they will report fiscal year 2022 results on Feb 13, 2023 Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 6 highly experienced directors. No independent directors (9 non-independent directors). Standing Corporate Auditor Eiki Kitaoka was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Nov 11
Third quarter 2022 earnings released: EPS: JP¥24.28 (vs JP¥2.13 loss in 3Q 2021) Third quarter 2022 results: EPS: JP¥24.28 (up from JP¥2.13 loss in 3Q 2021). Revenue: JP¥1.63b (up 17% from 3Q 2021). Net income: JP¥251.0m (up JP¥273.0m from 3Q 2021). Profit margin: 15% (up from net loss in 3Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Announcement • Aug 28
Greenland Resort Company Limited to Report Q3, 2022 Results on Nov 09, 2022 Greenland Resort Company Limited announced that they will report Q3, 2022 results on Nov 09, 2022 Reported Earnings • Aug 17
Second quarter 2022 earnings released: EPS: JP¥20.80 (vs JP¥5.90 loss in 2Q 2021) Second quarter 2022 results: EPS: JP¥20.80 (up from JP¥5.90 loss in 2Q 2021). Revenue: JP¥1.56b (up 26% from 2Q 2021). Net income: JP¥215.0m (up JP¥276.0m from 2Q 2021). Profit margin: 14% (up from net loss in 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥2.00 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 01 September 2022. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.4%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (0.6%). Announcement • Jun 19
Greenland Resort Company Limited to Report Q2, 2022 Results on Aug 10, 2022 Greenland Resort Company Limited announced that they will report Q2, 2022 results on Aug 10, 2022 Reported Earnings • May 13
First quarter 2022 earnings released: EPS: JP¥1.26 (vs JP¥3.87 loss in 1Q 2021) First quarter 2022 results: EPS: JP¥1.26 (up from JP¥3.87 loss in 1Q 2021). Revenue: JP¥979.0m (down 12% from 1Q 2021). Net income: JP¥13.0m (up JP¥53.0m from 1Q 2021). Profit margin: 1.3% (up from net loss in 1Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 101 percentage points per year, which is a significant difference in performance. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 6 highly experienced directors. No independent directors (9 non-independent directors). Standing Corporate Auditor Eiki Kitaoka was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Apr 08
Greenland Resort Company Limited to Report Q1, 2022 Results on May 11, 2022 Greenland Resort Company Limited announced that they will report Q1, 2022 results on May 11, 2022 Recent Insider Transactions • Feb 28
Insider recently bought JP¥20m worth of stock On the 25th of February, Ruben Shiffman bought around 530k shares on-market at roughly JP¥37.20 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought JP¥25m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Feb 27
Insider recently bought JP¥20m worth of stock On the 25th of February, Ruben Shiffman bought around 530k shares on-market at roughly JP¥37.20 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought JP¥25m more in shares than they have sold in the last 12 months. Announcement • Feb 17
Greenland Resort Company Limited, Annual General Meeting, Mar 30, 2022 Greenland Resort Company Limited, Annual General Meeting, Mar 30, 2022. Reported Earnings • Feb 16
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: JP¥143 loss per share (down from JP¥61.24 loss in FY 2020). Revenue: JP¥5.75b (up 25% from FY 2020). Net loss: JP¥1.48b (loss widened 133% from FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 97 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 10
Third quarter 2021 earnings released: JP¥2.13 loss per share (vs JP¥0.97 loss in 3Q 2020) The company reported a soft third quarter result with increased losses and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: JP¥1.39b (up 4.4% from 3Q 2020). Net loss: JP¥22.0m (loss widened 120% from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 13
Second quarter 2021 earnings released: JP¥5.90 loss per share (vs JP¥30.38 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: JP¥1.23b (up 137% from 2Q 2020). Net loss: JP¥61.0m (loss narrowed 81% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Reported Earnings • May 15
First quarter 2021 earnings released: JP¥3.87 loss per share (vs JP¥15.29 loss in 1Q 2020) The company reported a decent first quarter result with reduced losses and improved control over expenses, although revenues were weaker. First quarter 2021 results: Revenue: JP¥1.11b (down 2.1% from 1Q 2020). Net loss: JP¥40.0m (loss narrowed 75% from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 04
Full year 2020 earnings released: JP¥61.24 loss per share (vs JP¥37.34 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: JP¥4.62b (down 45% from FY 2019). Net loss: JP¥633.0m (down 264% from profit in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Feb 26
New 90-day low: JP¥416 The company is down 5.0% from its price of JP¥438 on 27 November 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 7.0% over the same period. Announcement • Feb 16
Greenland Resort Company Limited, Annual General Meeting, Mar 30, 2021 Greenland Resort Company Limited, Annual General Meeting, Mar 30, 2021. Reported Earnings • Feb 14
Full year 2020 earnings released: JP¥61.23 loss per share (vs JP¥37.34 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: JP¥4.62b (down 45% from FY 2019). Net loss: JP¥633.0m (down 264% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 72% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Jan 27
New 90-day low: JP¥417 The company is down 5.0% from its price of JP¥440 on 29 October 2020. The Japanese market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 4.0% over the same period. Is New 90 Day High Low • Jan 04
New 90-day low: JP¥420 The company is down 4.0% from its price of JP¥436 on 06 October 2020. The Japanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 6.0% over the same period. Announcement • Dec 30
Greenland Resort Company Limited to Report Fiscal Year 2020 Results on Feb 12, 2021 Greenland Resort Company Limited announced that they will report fiscal year 2020 results on Feb 12, 2021 Is New 90 Day High Low • Dec 18
New 90-day high: JP¥454 The company is up 3.0% from its price of JP¥439 on 18 September 2020. The Japanese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 7.0% over the same period. Announcement • Oct 10
Greenland Resort Company Limited to Report Q3, 2020 Results on Nov 11, 2020 Greenland Resort Company Limited announced that they will report Q3, 2020 results on Nov 11, 2020 Announcement • Jun 28
Greenland Resort Company Limited to Report Q2, 2020 Results on Aug 05, 2020 Greenland Resort Company Limited announced that they will report Q2, 2020 results on Aug 05, 2020