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3360

Ship Healthcare Holdings TSE:3360 Stock Report

Last Price

JP¥2.85k

Market Cap

JP¥269.1b

7D

5.7%

1Y

1.6%

Updated

05 Oct, 2022

Data

Company Financials +
3360 fundamental analysis
Snowflake Score
Valuation2/6
Future Growth2/6
Past Performance2/6
Financial Health5/6
Dividends4/6

3360 Stock Overview

Ship Healthcare Holdings, Inc. engages in the medical, healthcare, welfare, and nursing care businesses worldwide.

Rewards

Trading at 35.5% below our estimate of its fair value

Earnings are forecast to grow 8.17% per year

Risk Analysis

No risks detected for 3360 from our risk checks.

Ship Healthcare Holdings Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Ship Healthcare Holdings
Historical stock prices
Current Share PriceJP¥2,852.00
52 Week HighJP¥3,045.00
52 Week LowJP¥1,949.00
Beta0.24
1 Month Change8.98%
3 Month Change12.51%
1 Year Change1.64%
3 Year Change24.95%
5 Year Change61.13%
Change since IPO387.52%

Recent News & Updates

Shareholder Returns

3360JP HealthcareJP Market
7D5.7%4.3%2.8%
1Y1.6%-5.4%-2.6%

Return vs Industry: 3360 exceeded the JP Healthcare industry which returned -5.4% over the past year.

Return vs Market: 3360 exceeded the JP Market which returned -2.6% over the past year.

Price Volatility

Is 3360's price volatile compared to industry and market?
3360 volatility
3360 Average Weekly Movement2.7%
Healthcare Industry Average Movement3.5%
Market Average Movement3.5%
10% most volatile stocks in JP Market7.4%
10% least volatile stocks in JP Market1.9%

Stable Share Price: 3360 is not significantly more volatile than the rest of JP stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: 3360's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19926,943Futoshi Ohashihttps://www.shiphd.co.jp

Ship Healthcare Holdings, Inc. engages in the medical, healthcare, welfare, and nursing care businesses worldwide. It operates through four segments: Total Pack Produce Business, Medical Supply Business, Lifecare Business, and Dispensing Pharmacy Business. The Total Pack Produce segment engages in sale of medical devices and medical equipment based on bulk orders; offers consulting services on medicine, healthcare, welfare, and nursing care facilities; and leasing of real estate to medical facilities and other tenants.

Ship Healthcare Holdings Fundamentals Summary

How do Ship Healthcare Holdings's earnings and revenue compare to its market cap?
3360 fundamental statistics
Market CapJP¥269.09b
Earnings (TTM)JP¥12.16b
Revenue (TTM)JP¥521.35b

22.1x

P/E Ratio

0.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
3360 income statement (TTM)
RevenueJP¥521.35b
Cost of RevenueJP¥467.26b
Gross ProfitJP¥54.09b
Other ExpensesJP¥41.94b
EarningsJP¥12.16b

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

Nov 08, 2022

Earnings per share (EPS)128.83
Gross Margin10.37%
Net Profit Margin2.33%
Debt/Equity Ratio48.1%

How did 3360 perform over the long term?

See historical performance and comparison

Dividends

1.5%

Current Dividend Yield

32%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is 3360 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 3360?

Other financial metrics that can be useful for relative valuation.

3360 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.5x
Enterprise Value/EBITDA10x
PEG Ratio2.7x

Price to Earnings Ratio vs Peers

How does 3360's PE Ratio compare to its peers?

3360 PE Ratio vs Peers
The above table shows the PE ratio for 3360 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average18.5x
9987 Suzuken
16.8x8.1%JP¥293.8b
7476 AS ONE
32.1x9.3%JP¥234.8b
2784 Alfresa Holdings
11.2x1.8%JP¥348.1b
7459 MediPal Holdings
14.1x4.4%JP¥397.2b
3360 Ship Healthcare Holdings
22.1x8.2%JP¥269.1b

Price-To-Earnings vs Peers: 3360 is expensive based on its Price-To-Earnings Ratio (22.1x) compared to the peer average (18.5x).


Price to Earnings Ratio vs Industry

How does 3360's PE Ratio compare vs other companies in the JP Healthcare Industry?

Price-To-Earnings vs Industry: 3360 is expensive based on its Price-To-Earnings Ratio (22.1x) compared to the JP Healthcare industry average (12x)


Price to Earnings Ratio vs Fair Ratio

What is 3360's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

3360 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio22.1x
Fair PE Ratio20.4x

Price-To-Earnings vs Fair Ratio: 3360 is expensive based on its Price-To-Earnings Ratio (22.1x) compared to the estimated Fair Price-To-Earnings Ratio (20.4x).


Share Price vs Fair Value

What is the Fair Price of 3360 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 3360 (¥2852) is trading below our estimate of fair value (¥4418.63)

Significantly Below Fair Value: 3360 is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is lower than the current share price.


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Future Growth

How is Ship Healthcare Holdings forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


8.2%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 3360's forecast earnings growth (8.2% per year) is above the savings rate (0.04%).

Earnings vs Market: 3360's earnings (8.2% per year) are forecast to grow slower than the JP market (8.5% per year).

High Growth Earnings: 3360's earnings are forecast to grow, but not significantly.

Revenue vs Market: 3360's revenue (5.3% per year) is forecast to grow faster than the JP market (4.3% per year).

High Growth Revenue: 3360's revenue (5.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 3360's Return on Equity is forecast to be low in 3 years time (11.6%).


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Past Performance

How has Ship Healthcare Holdings performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


2.9%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 3360 has high quality earnings.

Growing Profit Margin: 3360's current net profit margins (2.3%) are lower than last year (2.4%).


Past Earnings Growth Analysis

Earnings Trend: 3360's earnings have grown by 2.9% per year over the past 5 years.

Accelerating Growth: 3360's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 3360 had negative earnings growth (-0.7%) over the past year, making it difficult to compare to the Healthcare industry average (12%).


Return on Equity

High ROE: 3360's Return on Equity (10.2%) is considered low.


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Financial Health

How is Ship Healthcare Holdings's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 3360's short term assets (¥214.5B) exceed its short term liabilities (¥140.2B).

Long Term Liabilities: 3360's short term assets (¥214.5B) exceed its long term liabilities (¥65.3B).


Debt to Equity History and Analysis

Debt Level: 3360 has more cash than its total debt.

Reducing Debt: 3360's debt to equity ratio has increased from 42.5% to 48.1% over the past 5 years.

Debt Coverage: 3360's debt is well covered by operating cash flow (21.3%).

Interest Coverage: 3360 earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


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Dividend

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

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


1.47%

Current Dividend Yield

Dividend Yield vs Market

Ship Healthcare Holdings Dividend Yield vs Market
How does Ship Healthcare Holdings dividend yield compare to the market?
SegmentDividend Yield
Company (Ship Healthcare Holdings)1.5%
Market Bottom 25% (JP)1.6%
Market Top 25% (JP)3.7%
Industry Average (Healthcare)2.2%
Analyst forecast in 3 Years (Ship Healthcare Holdings)1.8%

Notable Dividend: 3360's dividend (1.47%) isn’t notable compared to the bottom 25% of dividend payers in the JP market (1.65%).

High Dividend: 3360's dividend (1.47%) is low compared to the top 25% of dividend payers in the JP market (3.7%).


Stability and Growth of Payments

Stable Dividend: 3360's dividends per share have been stable in the past 10 years.

Growing Dividend: 3360's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (31.8%), 3360's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (44.2%), 3360's dividend payments are well covered by cash flows.


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Management

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

6.3yrs

Average management tenure


CEO

Futoshi Ohashi (58 yo)

8.33yrs

Tenure

Mr. Futoshi Ohashi has been President of F&S Uni Management since May 2006. Mr. Ohashi serves as President at Ship Healthcare Holdings, Inc. since August 2021 and served as its Vice President since June 20...


Leadership Team

Experienced Management: 3360's management team is seasoned and experienced (6.3 years average tenure).


Board Members

Experienced Board: 3360's board of directors are seasoned and experienced ( 16.3 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

What is the ownership structure of 3360?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders8,419,0008.9%
Private Companies10,777,80011.4%
General Public27,140,14928.8%
Institutions48,013,31350.9%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 65.11% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
8.46%
Kokko K.K.
7,977,800¥22.8b0%no data
7.51%
JPMorgan Chase & Co, Private Banking and Investment Banking Investments
7,087,172¥20.2b0%0.06%
4.47%
Columbia Management Investment Advisers, LLC
4,213,700¥12.0b0%0.02%
4.36%
Mitsubishi UFJ Trust and Banking Corporation, Asset Management Arm
4,111,000¥11.7b-19.58%0.09%
3.61%
Schroder Investment Management Limited
3,409,212¥9.7b0%0.05%
3.3%
National Mutual Insurance Federation of Agricultural Cooperatives, Asset Management Arm
3,112,000¥8.9b0%2.48%
3.02%
Nomura Asset Management Co., Ltd.
2,850,500¥8.1b0%0.03%
2.97%
Kasuga Kosan Joint Company
2,800,000¥8.0b0%no data
2.86%
The Vanguard Group, Inc.
2,697,329¥7.7b1.86%no data
2.69%
Norges Bank Investment Management
2,538,022¥7.2b0%0.01%
2.62%
Kunihisa Furukawa
2,473,600¥7.1b0%no data
2.61%
Koichiro Furukawa
2,460,000¥7.0b0%no data
2.01%
Polar Capital Holdings plc
1,892,757¥5.4b0%0.2%
1.87%
FMR LLC
1,762,941¥5.0b-0.12%no data
1.69%
Kenzo Konishi
1,592,000¥4.5b0%no data
1.65%
BlackRock, Inc.
1,553,894¥4.4b0.02%no data
1.37%
Rheos Capital Works, Inc.
1,296,700¥3.7b0%0.49%
1.19%
Dimensional Fund Advisors LP
1,120,059¥3.2b6.03%0.01%
1.16%
Nikko Asset Management Co., Ltd.
1,099,000¥3.1b-0.94%0.01%
1.06%
Jupiter Fund Management Plc
1,004,600¥2.9b0%0.07%
1.06%
Shiozumi Asset Management Co., Ltd.
1,000,000¥2.9b0%2.27%
1.05%
Tokio Marine Asset Management Co., Ltd.
993,800¥2.8b0%0.16%
1.04%
Daiwa Asset Management Co. Ltd.
982,700¥2.8b-0.02%0.02%
0.78%
Pictet Asset Management Limited
736,000¥2.1b0%0.01%
0.7%
Hirotaka Ogawa
663,000¥1.9b0%no data

Company Information

Ship Healthcare Holdings, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Ship Healthcare Holdings, Inc.
  • Ticker: 3360
  • Exchange: TSE
  • Founded: 1992
  • Industry: Health Care Distributors
  • Sector: Healthcare
  • Implied Market Cap: JP¥269.087b
  • Shares outstanding: 94.35m
  • Website: https://www.shiphd.co.jp

Number of Employees


Location

  • Ship Healthcare Holdings, Inc.
  • 3-20-8 Kasuga
  • Suita
  • Osaka
  • 565-0853
  • Japan


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
3360TSE (The Tokyo Stock Exchange)YesCommon SharesJPJPYFeb 2005
5EZDB (Deutsche Boerse AG)YesCommon SharesDEEURFeb 2005

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/05 00:00
End of Day Share Price2022/10/05 00:00
Earnings2022/06/30
Annual Earnings2022/03/31


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.