Ichigo Inc.

TSE:2337 Stock Report

Market Cap: JP¥169.0b

Ichigo Valuation

Is 2337 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 2337 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 2337 (¥382) is trading below our estimate of fair value (¥444.42)

Significantly Below Fair Value: 2337 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 2337?

Key metric: As 2337 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 2337. This is calculated by dividing 2337's market cap by their current earnings.
What is 2337's PE Ratio?
PE Ratio18.6x
EarningsJP¥8.97b
Market CapJP¥168.99b

Price to Earnings Ratio vs Peers

How does 2337's PE Ratio compare to its peers?

The above table shows the PE ratio for 2337 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average60.2x
8848 Leopalace21
4.1x-9.6%JP¥167.1b
8905 AEON Mall
23.9x19.9%JP¥453.5b
8818 Keihanshin Building
22.9x7.0%JP¥76.9b
9661 Kabuki-Za
190xn/aJP¥54.7b
2337 Ichigo
18.5x11.3%JP¥166.4b

Price-To-Earnings vs Peers: 2337 is good value based on its Price-To-Earnings Ratio (18.5x) compared to the peer average (60.2x).

Price to Earnings Ratio vs Industry

How does 2337's PE Ratio compare vs other companies in the JP Real Estate Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
2337 18.6xIndustry Avg. 12.1xNo. of Companies17PE0816243240+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 2337 is expensive based on its Price-To-Earnings Ratio (18.5x) compared to the JP Real Estate industry average (12.1x).

Price to Earnings Ratio vs Fair Ratio

What is 2337'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.

2337 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio18.6x
Fair PE Ratio13.5x

Price-To-Earnings vs Fair Ratio: 2337 is expensive based on its Price-To-Earnings Ratio (18.5x) compared to the estimated Fair Price-To-Earnings Ratio (13.5x).

Analyst Price Targets

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

The above table shows the analyst 2337 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentJP¥382.00
JP¥476.67
+24.8%
12.6%JP¥560.00JP¥420.00n/a3
Nov ’25JP¥404.00
JP¥476.67
+18.0%
12.6%JP¥560.00JP¥420.00n/a3
Oct ’25JP¥375.00
JP¥470.00
+25.3%
14.8%JP¥560.00JP¥390.00n/a3
Sep ’25JP¥381.00
JP¥470.00
+23.4%
14.8%JP¥560.00JP¥390.00n/a3
Aug ’25JP¥397.00
JP¥470.00
+18.4%
14.8%JP¥560.00JP¥390.00n/a3
Jul ’25JP¥409.00
JP¥466.67
+14.1%
14.0%JP¥550.00JP¥390.00n/a3
Jun ’25JP¥395.00
JP¥466.67
+18.1%
14.0%JP¥550.00JP¥390.00n/a3
May ’25JP¥409.00
JP¥466.67
+14.1%
14.0%JP¥550.00JP¥390.00n/a3
Apr ’25JP¥439.00
JP¥423.33
-3.6%
11.8%JP¥490.00JP¥370.00n/a3
Mar ’25JP¥394.00
JP¥423.33
+7.4%
11.8%JP¥490.00JP¥370.00n/a3
Feb ’25JP¥384.00
JP¥423.33
+10.2%
11.8%JP¥490.00JP¥370.00n/a3
Jan ’25JP¥338.00
JP¥405.00
+19.8%
21.0%JP¥490.00JP¥320.00n/a2
Dec ’24JP¥349.00
JP¥405.00
+16.0%
21.0%JP¥490.00JP¥320.00n/a2
Nov ’24JP¥337.00
JP¥386.67
+14.7%
19.2%JP¥490.00JP¥320.00JP¥404.003
Oct ’24JP¥326.00
JP¥350.00
+7.4%
26.5%JP¥480.00JP¥270.00JP¥375.003
Sep ’24JP¥306.00
JP¥350.00
+14.4%
26.5%JP¥480.00JP¥270.00JP¥381.003
Aug ’24JP¥266.00
JP¥350.00
+31.6%
26.5%JP¥480.00JP¥270.00JP¥397.003
Jul ’24JP¥275.00
JP¥346.67
+26.1%
25.4%JP¥470.00JP¥270.00JP¥409.003
Jun ’24JP¥248.00
JP¥346.67
+39.8%
25.4%JP¥470.00JP¥270.00JP¥395.003
May ’24JP¥259.00
JP¥346.67
+33.8%
25.4%JP¥470.00JP¥270.00JP¥409.003
Apr ’24JP¥277.00
JP¥360.00
+30.0%
23.0%JP¥470.00JP¥270.00JP¥439.003
Mar ’24JP¥288.00
JP¥360.00
+25.0%
23.0%JP¥470.00JP¥270.00JP¥394.003
Feb ’24JP¥292.00
JP¥360.00
+23.3%
23.0%JP¥470.00JP¥270.00JP¥384.003
Jan ’24JP¥285.00
JP¥363.33
+27.5%
20.8%JP¥470.00JP¥310.00JP¥338.003
Dec ’23JP¥305.00
JP¥363.33
+19.1%
20.8%JP¥470.00JP¥310.00JP¥349.003
Nov ’23JP¥332.00
JP¥363.33
+9.4%
20.8%JP¥470.00JP¥310.00JP¥337.003

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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