Mynet Valuation

Q: What is the Fair Price of 3928 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

3928 (¥347) is trading below our estimate of [[fair value]] (¥402.74)

Is 3928 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 3928 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 3928 (¥347) is trading below our estimate of fair value (¥402.74)

Significantly Below Fair Value: 3928 is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 3928?

Key metric: As 3928 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 3928. This is calculated by dividing 3928's market cap by their current earnings.
What is 3928's PE Ratio?
PE Ratio	8.5x
Earnings	JP¥345.00m
Market Cap	JP¥2.93b

3928 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/Revenue	0.4x
Enterprise Value/EBITDA	6.6x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does 3928's PE Ratio compare to its peers?

The above table shows the PE ratio for 3928 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	29.1x
9421 NJ Holdings	21.2x	n/a	JP¥2.5b
3851 Nippon Ichi Software	34.1x	n/a	JP¥4.5b
7035 and factoryinc	29.1x	n/a	JP¥2.6b
3990 UUUMLtd	32.2x	-2.0%	JP¥10.6b
3928 Mynet	8.5x	n/a	JP¥2.9b

Price-To-Earnings vs Peers: 3928 is good value based on its Price-To-Earnings Ratio (8.5x) compared to the peer average (29.1x).

Price to Earnings Ratio vs Industry

How does 3928's PE Ratio compare vs other companies in the JP Entertainment Industry?

1 Company	Price / Earnings	Estimated Growth	Market Cap
3760 CAVE InteractiveLTD	3.8x	n/a	US$42.49m

No more companies available in this PE range

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: 3928 is good value based on its Price-To-Earnings Ratio (8.5x) compared to the JP Entertainment industry average (27.3x).

Price to Earnings Ratio vs Fair Ratio

What is 3928'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.

3928 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	8.5x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 3928's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

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

Analyst Forecast: Insufficient data to show price forecast.

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