Buy Or Sell Opportunity • Jun 08
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.8% to JP¥1,067. The fair value is estimated to be JP¥1,334, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 18%. For the next 3 years, revenue is forecast to grow by 7.9% per annum. Earnings are also forecast to grow by 6.4% per annum over the same time period. Reported Earnings • May 15
Full year 2026 earnings: EPS and revenues exceed analyst expectations Full year 2026 results: EPS: JP¥77.95 (up from JP¥60.79 in FY 2025). Revenue: JP¥12.3b (up 16% from FY 2025). Net income: JP¥1.74b (up 28% from FY 2025). Profit margin: 14% (up from 13% in FY 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) also surpassed analyst estimates by 5.8%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, while revenues in the Diversified Financial industry in Japan are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • May 13
Entrust Inc., Annual General Meeting, Jun 22, 2026 Entrust Inc., Annual General Meeting, Jun 22, 2026. Announcement • May 10
Entrust Inc. to Report Fiscal Year 2026 Results on May 13, 2026 Entrust Inc. announced that they will report fiscal year 2026 results on May 13, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥20.50 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 09 June 2026. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (3.3%). Reported Earnings • Jan 30
Third quarter 2026 earnings released: EPS: JP¥16.76 (vs JP¥13.76 in 3Q 2025) Third quarter 2026 results: EPS: JP¥16.76 (up from JP¥13.76 in 3Q 2025). Revenue: JP¥3.01b (up 12% from 3Q 2025). Net income: JP¥375.0m (up 22% from 3Q 2025). Profit margin: 13% (up from 11% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 1.5% growth forecast for the Diversified Financial industry in Japan. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Dec 17
Entrust Inc. to Report Q3, 2026 Results on Jan 29, 2026 Entrust Inc. announced that they will report Q3, 2026 results on Jan 29, 2026 Declared Dividend • Dec 09
First half dividend of JP¥17.50 announced Shareholders will receive a dividend of JP¥17.50. Ex-date: 30th March 2026 Payment date: 9th June 2026 Dividend yield will be 3.2%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (42% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has increased by an average of 37% per year over the past 3 years and payments have been stable during that time. EPS is expected to grow by 28% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 30
Second quarter 2026 earnings released: EPS: JP¥21.99 (vs JP¥16.85 in 2Q 2025) Second quarter 2026 results: EPS: JP¥21.99 (up from JP¥16.85 in 2Q 2025). Revenue: JP¥2.98b (up 16% from 2Q 2025). Net income: JP¥492.0m (up 31% from 2Q 2025). Profit margin: 17% (up from 15% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Diversified Financial industry in Japan. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 14% per year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥17.50 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 09 December 2025. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (3.2%). Announcement • Sep 12
Entrust Inc. to Report Q2, 2026 Results on Oct 29, 2025 Entrust Inc. announced that they will report Q2, 2026 results on Oct 29, 2025 Reported Earnings • Jul 30
First quarter 2026 earnings released: EPS: JP¥17.25 (vs JP¥14.72 in 1Q 2025) First quarter 2026 results: EPS: JP¥17.25 (up from JP¥14.72 in 1Q 2025). Revenue: JP¥2.88b (up 14% from 1Q 2025). Net income: JP¥386.0m (up 17% from 1Q 2025). Profit margin: 13% (in line with 1Q 2025). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Diversified Financial industry in Japan. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 09
Final dividend of JP¥17.50 announced Shareholders will receive a dividend of JP¥17.50. Ex-date: 29th September 2025 Payment date: 9th December 2025 Dividend yield will be 3.3%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is covered by both earnings (37% earnings payout ratio) and cash flows (54% cash payout ratio). The dividend has increased by an average of 37% per year over the past 3 years and payments have been stable during that time. EPS is expected to grow by 36% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 25
Full year 2025 earnings: Revenues and EPS in line with analyst expectations Full year 2025 results: EPS: JP¥60.79 (up from JP¥54.88 in FY 2024). Revenue: JP¥10.6b (up 18% from FY 2024). Net income: JP¥1.36b (up 11% from FY 2024). Profit margin: 13% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Diversified Financial industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 16% per year. Announcement • Jun 24
Entrust Inc. to Report Q1, 2026 Results on Jul 29, 2025 Entrust Inc. announced that they will report Q1, 2026 results on Jul 29, 2025 Reported Earnings • May 10
Full year 2025 earnings: Revenues and EPS in line with analyst expectations Full year 2025 results: EPS: JP¥60.79 (up from JP¥54.88 in FY 2024). Revenue: JP¥10.6b (up 18% from FY 2024). Net income: JP¥1.36b (up 11% from FY 2024). Profit margin: 13% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 6.5% growth forecast for the Diversified Financial industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 19% per year. Announcement • May 09
Entrust Inc., Annual General Meeting, Jun 23, 2025 Entrust Inc., Annual General Meeting, Jun 23, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥12.50 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 06 June 2025. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (3.2%). Announcement • Mar 18
Entrust Inc. to Report Fiscal Year 2025 Results on May 09, 2025 Entrust Inc. announced that they will report fiscal year 2025 results on May 09, 2025 Reported Earnings • Jan 30
Third quarter 2025 earnings released: EPS: JP¥13.77 (vs JP¥12.75 in 3Q 2024) Third quarter 2025 results: EPS: JP¥13.77 (up from JP¥12.75 in 3Q 2024). Revenue: JP¥2.69b (up 18% from 3Q 2024). Net income: JP¥308.0m (up 8.1% from 3Q 2024). Profit margin: 11% (down from 13% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Diversified Financial industry in Japan. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Jan 30
Now 21% undervalued Over the last 90 days, the stock has risen 2.1% to JP¥771. The fair value is estimated to be JP¥972, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Earnings per share has grown by 19%. Revenue is forecast to grow by 29% in 2 years. Earnings are forecast to grow by 27% in the next 2 years. Announcement • Jan 03
Entrust Inc. to Report Q3, 2025 Results on Jan 29, 2025 Entrust Inc. announced that they will report Q3, 2025 results on Jan 29, 2025 Declared Dividend • Dec 10
First half dividend of JP¥12.50 announced Shareholders will receive a dividend of JP¥12.50. Ex-date: 28th March 2025 Payment date: 6th June 2025 Dividend yield will be 3.1%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (16% earnings payout ratio) and cash flows (48% cash payout ratio). The dividend has increased by an average of 36% per year over the past 2 years and payments have been stable during that time. EPS is expected to grow by 36% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Nov 01
Now 21% undervalued Over the last 90 days, the stock has risen 6.3% to JP¥755. The fair value is estimated to be JP¥952, 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 16%. Revenue is forecast to grow by 31% in 2 years. Earnings are forecast to grow by 28% in the next 2 years. Reported Earnings • Oct 31
Second quarter 2025 earnings released: EPS: JP¥16.85 (vs JP¥13.95 in 2Q 2024) Second quarter 2025 results: EPS: JP¥16.85 (up from JP¥13.95 in 2Q 2024). Revenue: JP¥2.58b (up 17% from 2Q 2024). Net income: JP¥377.0m (up 21% from 2Q 2024). Profit margin: 15% (in line with 2Q 2024). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Diversified Financial industry in Japan. Announcement • Sep 26
Entrust Inc. to Report Q2, 2025 Results on Oct 29, 2024 Entrust Inc. announced that they will report Q2, 2025 results on Oct 29, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥12.50 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 04 December 2024. Payout ratio is a comfortable 33% but the company is paying out more than the cash it is generating. Trailing yield: 3.4%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (3.0%). New Risk • Aug 06
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥13.7b (US$94.1m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (378% cash payout ratio). Market cap is less than US$100m (JP¥13.7b market cap, or US$94.1m). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to JP¥612, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Diversified Financial industry in Japan. Total loss to shareholders of 1.4% over the past three years. Buy Or Sell Opportunity • Aug 05
Now 28% undervalued after recent price drop Over the last 90 days, the stock has fallen 28% to JP¥612. The fair value is estimated to be JP¥856, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last year. Earnings per share has grown by 17%. Revenue is forecast to grow by 32% in 2 years. Earnings are forecast to grow by 32% in the next 2 years. Reported Earnings • Jul 28
First quarter 2025 earnings released: EPS: JP¥12.57 (vs JP¥12.52 in 1Q 2024) First quarter 2025 results: EPS: JP¥12.57 (up from JP¥12.52 in 1Q 2024). Revenue: JP¥2.49b (up 19% from 1Q 2024). Net income: JP¥281.0m (flat on 1Q 2024). Profit margin: 11% (down from 13% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Diversified Financial industry in Japan. Declared Dividend • Jul 11
Final dividend of JP¥12.50 announced Shareholders will receive a dividend of JP¥12.50. Ex-date: 27th September 2024 Payment date: 4th December 2024 Dividend yield will be 2.6%, which is lower than the industry average of 3.1%. Sustainability & Growth Dividend is covered by earnings (25% earnings payout ratio) but not covered by cash flows (378% cash payout ratio). The dividend has increased by an average of 36% per year over the past 2 years and payments have been stable during that time. EPS is expected to grow by 41% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 28
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥54.88 (up from JP¥44.95 in FY 2023). Revenue: JP¥8.97b (up 38% from FY 2023). Net income: JP¥1.23b (up 22% from FY 2023). Profit margin: 14% (down from 16% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.1%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Diversified Financial industry in Japan. Announcement • Jun 28
Entrust Inc. to Report Q1, 2025 Results on Jul 26, 2024 Entrust Inc. announced that they will report Q1, 2025 results on Jul 26, 2024 Reported Earnings • May 12
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥54.88 (up from JP¥44.95 in FY 2023). Revenue: JP¥8.97b (up 38% from FY 2023). Net income: JP¥1.23b (up 22% from FY 2023). Profit margin: 14% (down from 16% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.1%. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 6.7% growth forecast for the Diversified Financial industry in Japan. Announcement • May 12
Entrust Inc., Annual General Meeting, Jun 21, 2024 Entrust Inc., Annual General Meeting, Jun 21, 2024. Announcement • Mar 27
Entrust Inc. to Report Fiscal Year 2024 Results on May 10, 2024 Entrust Inc. announced that they will report fiscal year 2024 results on May 10, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥9.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 06 June 2024. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (2.9%). Reported Earnings • Jan 31
Third quarter 2024 earnings released: EPS: JP¥12.75 (vs JP¥11.77 in 3Q 2023) Third quarter 2024 results: EPS: JP¥12.75 (up from JP¥11.77 in 3Q 2023). Revenue: JP¥2.29b (up 31% from 3Q 2023). Net income: JP¥285.0m (up 8.3% from 3Q 2023). Profit margin: 13% (down from 15% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Diversified Financial industry in Japan. Announcement • Jan 09
Entrust Inc. to Report Q3, 2024 Results on Jan 29, 2024 Entrust Inc. announced that they will report Q3, 2024 results on Jan 29, 2024 Reported Earnings • Oct 29
Second quarter 2024 earnings released: EPS: JP¥13.95 (vs JP¥10.70 in 2Q 2023) Second quarter 2024 results: EPS: JP¥13.95 (up from JP¥10.70 in 2Q 2023). Revenue: JP¥2.19b (up 47% from 2Q 2023). Net income: JP¥312.0m (up 30% from 2Q 2023). Profit margin: 14% (down from 16% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Diversified Financial industry in Japan. Announcement • Oct 08
Entrust Inc. to Report Q2, 2024 Results on Oct 27, 2023 Entrust Inc. announced that they will report Q2, 2024 results on Oct 27, 2023 New Risk • Oct 06
New minor risk - Financial data availability Less than 3 years of financial data is available. This is considered a minor risk. If the company has been trading for less than 3 years, then it has not had the opportunity to establish a long-term track record. This makes it difficult for investors to assess the true growth potential, sustainability and resilience of the business under different economic conditions. Currently, the following risks have been identified for the company: Minor Risks Less than 3 years of financial data is available. Short dividend paying track record (1 year of continuous dividend payments). Upcoming Dividend • Sep 21
Upcoming dividend of JP¥9.00 per share at 2.0% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 05 December 2023. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (2.9%). Reported Earnings • Jul 29
First quarter 2024 earnings released: EPS: JP¥12.52 (vs JP¥9.57 in 1Q 2023) First quarter 2024 results: EPS: JP¥12.52 (up from JP¥9.57 in 1Q 2023). Revenue: JP¥2.10b (up 44% from 1Q 2023). Net income: JP¥280.0m (up 31% from 1Q 2023). Profit margin: 13% (down from 15% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Diversified Financial industry in Japan. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. New Risk • Jul 19
New minor risk - Dividend sustainability The company has a short dividend paying track record. Less than a year of continuous dividend payments. Dividend yield: 1.9% This is considered a minor risk. For dividend focussed investors, companies that have not established a long-term track record of consistently maintaining or growing dividends are less attractive than those companies that have a long track record. Those that have a long track record have proven their underlying business is stable enough to consistently maintain or grow the dividend and that the company considers maintaining the dividend to be one of its priorities. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Short dividend paying track record (less than a year of continuous dividend payments). Share price has been volatile over the past 3 months (5.5% average weekly change). Reported Earnings • Jun 28
Full year 2023 earnings released: EPS: JP¥44.95 (vs JP¥34.84 in FY 2022) Full year 2023 results: EPS: JP¥44.95 (up from JP¥34.84 in FY 2022). Revenue: JP¥6.49b (up 31% from FY 2022). Net income: JP¥1.01b (up 29% from FY 2022). Profit margin: 16% (in line with FY 2022). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Diversified Financial industry in Japan. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 9% per year. Announcement • May 13
Entrust Inc., Annual General Meeting, Jun 21, 2023 Entrust Inc., Annual General Meeting, Jun 21, 2023. Upcoming Dividend • Mar 23
Inaugural dividend of JP¥6.50 per share Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 07 June 2023. This is the first dividend for Entrust since going public. The average dividend yield among industry peers is 3.2%. Reported Earnings • Jan 28
Third quarter 2023 earnings released: EPS: JP¥11.72 (vs JP¥7.34 in 3Q 2022) Third quarter 2023 results: EPS: JP¥11.72 (up from JP¥7.34 in 3Q 2022). Revenue: JP¥1.67b (up 35% from 3Q 2022). Net income: JP¥262.0m (up 60% from 3Q 2022). Profit margin: 16% (up from 13% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 5% per year. Announcement • Jan 13
Entrust Names Harini Gokul as Chief Customer Officer Entrust named Harini Gokul as its Chief Customer Officer, reporting directly to the CEO. In this new role, Gokul will lead the organization's mission to build and deliver an exceptional Entrust customer experience worldwide, working collaboratively across the organization. She joins Entrust with more than two decades of experience driving customer success and transformation for customers ranging from Fortune 500 enterprises to startups. She is a recognized thought leader in building industry-defining customer experience models and leveraging cloud solutions to help customers accelerate growth and realize value. Gokul joins Entrust from Amazon Web Services, where she built and led the customer success approach for next generation customers. Prior to joining AWS, Gokul was at Microsoft, where she held multiple leadership roles across product, services, and strategy focused on accelerating cloud adoption and customer success with Fortune 500 customers. She started her career at Standard Chartered Bank and continued to focus on financial services while consulting at PwC. She holds a Bachelor of Engineering degree from RV College of Engineering and an MBA from Vanderbilt University. Gokul gives back to her community as an elected council member for Medina, Wash., and as a board member for the Washington Technology Industry Association. She is also an active startup investor and advisor. Announcement • Jan 09
Entrust Inc. to Report Q3, 2023 Results on Jan 27, 2023 Entrust Inc. announced that they will report Q3, 2023 results on Jan 27, 2023 Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Outside Director Mari Amino was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improved over the past week After last week's 15% share price gain to JP¥718, the stock trades at a trailing P/E ratio of 18.3x. Average trailing P/E is 11x in the Diversified Financial industry in Japan. Total returns to shareholders of 3.8% over the past three years. Reported Earnings • Oct 30
Second quarter 2023 earnings released: EPS: JP¥11.81 (vs JP¥9.30 in 2Q 2022) Second quarter 2023 results: EPS: JP¥11.81 (up from JP¥9.30 in 2Q 2022). Revenue: JP¥1.53b (up 28% from 2Q 2022). Net income: JP¥264.0m (up 27% from 2Q 2022). Profit margin: 17% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Sep 28
Entrust Inc. to Report Q2, 2023 Results on Oct 28, 2022 Entrust Inc. announced that they will report Q2, 2023 results on Oct 28, 2022 Upcoming Dividend • Sep 22
Inaugural dividend of JP¥6.50 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 06 December 2022. This is the first dividend for Entrust since going public. The average dividend yield among industry peers is 3.4%. Buying Opportunity • Sep 06
Now 20% undervalued Over the last 90 days, the stock is up 7.6%. The fair value is estimated to be JP¥767, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 7.1%. Reported Earnings • Jul 31
First quarter 2023 earnings released: EPS: JP¥9.57 (vs JP¥7.60 in 1Q 2022) First quarter 2023 results: EPS: JP¥9.57 (up from JP¥7.60 in 1Q 2022). Revenue: JP¥1.46b (up 26% from 1Q 2022). Net income: JP¥214.0m (up 26% from 1Q 2022). Profit margin: 15% (in line with 1Q 2022). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Jun 29
Entrust Inc. to Report Q1, 2023 Results on Jul 29, 2022 Entrust Inc. announced that they will report Q1, 2023 results on Jul 29, 2022 Valuation Update With 7 Day Price Move • May 18
Investor sentiment improved over the past week After last week's 15% share price gain to JP¥575, the stock trades at a trailing P/E ratio of 17.3x. Average trailing P/E is 10x in the Diversified Financial industry in Japan. Total returns to shareholders of 21% over the past three years. Announcement • May 15
Entrust Inc., Annual General Meeting, Jun 22, 2022 Entrust Inc., Annual General Meeting, Jun 22, 2022. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Outside Director Mari Amino was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 08
Entrust Inc. to Report Fiscal Year 2022 Results on May 13, 2022 Entrust Inc. announced that they will report fiscal year 2022 results on May 13, 2022 Upcoming Dividend • Mar 23
Inaugural dividend of JP¥6.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 07 June 2022. The company is not currently making a profit but it is cash flow positive. This is the first dividend for Entrust since going public. The average dividend yield among industry peers is 3.2%. Buying Opportunity • Feb 14
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 26%. The fair value is estimated to be JP¥752, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% per annum over the last 3 years. Earnings per share has grown by 13% per annum over the last 3 years. Announcement • Feb 08
Entrust Inc. Provides Earnings Guidance for the Fiscal Year Ending March 31, 2022 Entrust Inc. provided earnings guidance for the fiscal year ending March 31, 2022. For the period, the company expected revenues of JPY 5,000 million, operating income of JPY 1,270 million and net income of JPY 835 million. Reported Earnings • Jan 30
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥7.34 (down from JP¥7.69 in 3Q 2021). Revenue: JP¥1.23b (up 18% from 3Q 2021). Net income: JP¥164.0m (down 4.7% from 3Q 2021). Profit margin: 13% (down from 17% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 15% per year. Reported Earnings • Oct 31
Second quarter 2022 earnings released: EPS JP¥9.30 (vs JP¥9.05 in 2Q 2021) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2022 results: Revenue: JP¥1.20b (up 19% from 2Q 2021). Net income: JP¥208.0m (up 3.0% from 2Q 2021). Profit margin: 17% (down from 20% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 19% per year. Upcoming Dividend • Sep 22
Inaugural dividend of JP¥6.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 07 December 2021. This is the first dividend for Entrust since going public. The average dividend yield among industry peers is 3.2%. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥760, the stock trades at a trailing P/E ratio of 22.3x. Average trailing P/E is 14x in the Diversified Financial industry in Japan. Total returns to shareholders of 33% over the past three years. Reported Earnings • Jun 26
Full year 2021 earnings released: EPS JP¥34.03 (vs JP¥30.91 in FY 2020) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2021 results: Revenue: JP¥4.20b (up 16% from FY 2020). Net income: JP¥760.0m (up 11% from FY 2020). Profit margin: 18% (in line with FY 2020). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • May 18
Entrust Inc. Provides Earnings Guidance for the First Half and Full Year Ending March 31, 2022 Entrust Inc. provided earnings guidance for the first half and full year ending March 31, 2022. For the first half, the company expected revenues of JPY 2,340 million, operating income of JPY 590 million and net income of JPY 390 million.
For the full year, the company expected revenues of JPY 4,203 million, operating income of JPY 1,149 million and net income of JPY 760 million. Reported Earnings • May 17
Full year 2021 earnings released: EPS JP¥34.03 (vs JP¥30.91 in FY 2020) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2021 results: Revenue: JP¥4.20b (up 16% from FY 2020). Net income: JP¥760.0m (up 11% from FY 2020). Profit margin: 18% (in line with FY 2020). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 23
Inaugural dividend of JP¥5.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 05 June 2021. This is the first dividend for Entrust since going public. The average dividend yield among industry peers is 3.1%. Is New 90 Day High Low • Feb 24
New 90-day low: JP¥707 The company is down 20% from its price of JP¥880 on 26 November 2020. The Japanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Diversified Financial industry, which is up 8.0% over the same period. Reported Earnings • Feb 14
Third quarter 2021 earnings released: EPS JP¥7.69 (vs JP¥7.56 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: JP¥1.04b (up 16% from 3Q 2020). Net income: JP¥172.0m (up 2.4% from 3Q 2020). Profit margin: 17% (down from 19% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 01
New 90-day low: JP¥777 The company is down 9.0% from its price of JP¥858 on 02 November 2020. The Japanese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Diversified Financial industry, which is up 22% over the same period. Is New 90 Day High Low • Jan 12
New 90-day low: JP¥810 The company is down 13% from its price of JP¥926 on 14 October 2020. The Japanese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Diversified Financial industry, which is up 19% over the same period.