3962 Stock Overview
Change Inc. provides IT human resources development training services in Japan.
Price History & Performance
|Historical stock prices|
|Current Share Price||JP¥2,171.00|
|52 Week High||JP¥2,557.00|
|52 Week Low||JP¥1,303.00|
|1 Month Change||7.26%|
|3 Month Change||26.07%|
|1 Year Change||-4.02%|
|3 Year Change||372.21%|
|5 Year Change||360.69%|
|Change since IPO||1,158.55%|
Recent News & Updates
|3962||JP IT||JP Market|
Return vs Industry: 3962 underperformed the JP IT industry which returned -0.4% over the past year.
Return vs Market: 3962 underperformed the JP Market which returned -0.2% over the past year.
|3962 Average Weekly Movement||7.6%|
|IT Industry Average Movement||4.8%|
|Market Average Movement||3.8%|
|10% most volatile stocks in JP Market||7.8%|
|10% least volatile stocks in JP Market||2.0%|
Stable Share Price: 3962 is more volatile than 75% of JP stocks over the past 3 months, typically moving +/- 8% a week.
Volatility Over Time: 3962's weekly volatility (8%) has been stable over the past year, but is still higher than 75% of JP stocks.
About the Company
Change Inc. provides IT human resources development training services in Japan. It offers training services utilizing libraries and basic technologies of various algorithms, such as artificial intelligence, robotics, Internet of Things, voice internet, mobility, big data, cloud, cyber security, and new-IT transformation projects. The company was founded in 2003 and is based in Tokyo, Japan.
Change Fundamentals Summary
|3962 fundamental statistics|
Is 3962 overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|3962 income statement (TTM)|
|Cost of Revenue||JP¥4.38b|
Last Reported Earnings
Mar 31, 2022
Next Earnings Date
Aug 15, 2022
|Earnings per share (EPS)||51.56|
|Net Profit Margin||24.02%|
How did 3962 perform over the long term?See historical performance and comparison
0.3%Current Dividend Yield
Is 3962 undervalued compared to its fair value, analyst forecasts and its price relative to the market?
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
Key Valuation Metric
Which metric is best to use when looking at relative valuation for 3962?
Other financial metrics that can be useful for relative valuation.
|What is 3962's n/a Ratio?|
Price to Earnings Ratio vs Peers
How does 3962's PE Ratio compare to its peers?
|3962 PE Ratio vs Peers|
|Company||PE||Estimated Growth||Market Cap|
4819 Digital Garage
Price-To-Earnings vs Peers: 3962 is expensive based on its Price-To-Earnings Ratio (42.1x) compared to the peer average (17.1x).
Price to Earnings Ratio vs Industry
How does 3962's PE Ratio compare vs other companies in the JP IT Industry?
Price-To-Earnings vs Industry: 3962 is expensive based on its Price-To-Earnings Ratio (42.1x) compared to the JP IT industry average (18.1x)
Price to Earnings Ratio vs Fair Ratio
What is 3962'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.
|Current PE Ratio||42.1x|
|Fair PE Ratio||27x|
Price-To-Earnings vs Fair Ratio: 3962 is expensive based on its Price-To-Earnings Ratio (42.1x) compared to the estimated Fair Price-To-Earnings Ratio (27x).
Share Price vs Fair Value
What is the Fair Price of 3962 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: 3962 (¥2171) is trading below our estimate of fair value (¥3421.25)
Significantly Below Fair Value: 3962 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 less than 20% higher than the current share price.
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How is Change forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
Future Growth Score5/6
Future Growth Score 5/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: 3962's forecast earnings growth (21.4% per year) is above the savings rate (0.04%).
Earnings vs Market: 3962's earnings (21.4% per year) are forecast to grow faster than the JP market (8.4% per year).
High Growth Earnings: 3962's earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: 3962's revenue (19.1% per year) is forecast to grow faster than the JP market (4.3% per year).
High Growth Revenue: 3962's revenue (19.1% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: 3962's Return on Equity is forecast to be high in 3 years time (21%)
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How has Change performed over the past 5 years?
Past Performance Score1/6
Past Performance Score 1/6
Growing Profit Margin
Earnings vs Industry
Last years earnings growth
Earnings and Revenue History
Quality Earnings: 3962 has high quality earnings.
Growing Profit Margin: 3962's current net profit margins (24%) are lower than last year (29.9%).
Past Earnings Growth Analysis
Earnings Trend: Insufficient data to determine if 3962's year-on-year earnings growth rate was positive over the past 5 years.
Accelerating Growth: 3962's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: 3962 had negative earnings growth (-14.8%) over the past year, making it difficult to compare to the IT industry average (17.9%).
Return on Equity
High ROE: 3962's Return on Equity (10.7%) is considered low.
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How is Change's financial position?
Financial Health Score5/6
Financial Health Score 5/6
Short Term Liabilities
Long Term Liabilities
Financial Position Analysis
Short Term Liabilities: 3962's short term assets (¥35.7B) exceed its short term liabilities (¥5.9B).
Long Term Liabilities: 3962's short term assets (¥35.7B) exceed its long term liabilities (¥1.2B).
Debt to Equity History and Analysis
Debt Level: 3962 has more cash than its total debt.
Reducing Debt: Insufficient data to determine if 3962's debt to equity ratio has reduced over the past 5 years.
Debt Coverage: 3962's debt is well covered by operating cash flow (301.2%).
Interest Coverage: 3962's interest payments on its debt are well covered by EBIT (145.8x coverage).
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What is Change current dividend yield, its reliability and sustainability?
Dividend Score 0/6
Cash Flow Coverage
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: 3962's dividend (0.32%) isn’t notable compared to the bottom 25% of dividend payers in the JP market (1.63%).
High Dividend: 3962's dividend (0.32%) is low compared to the top 25% of dividend payers in the JP market (3.59%).
Stability and Growth of Payments
Stable Dividend: 3962 is not paying a notable dividend for the JP market, therefore no need to check if payments are stable.
Growing Dividend: 3962 is not paying a notable dividend for the JP market, therefore no need to check if payments are increasing.
Earnings Payout to Shareholders
Earnings Coverage: 3962 is not paying a notable dividend for the JP market.
Cash Payout to Shareholders
Cash Flow Coverage: 3962 is not paying a notable dividend for the JP market.
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How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Hiroshi Fukudome (46 yo)
Mr. Hiroshi Fukudome serves as Executive Officer and President at Change Inc. He served as an Executive President of Change Inc. Mr. Fukudome served as Chief of Research & Development Unit at Change Inc. s...
Experienced Management: 3962's management team is seasoned and experienced (6.7 years average tenure).
Experienced Board: 3962's board of directors are considered experienced (6.6 years average tenure).
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.
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Change Inc.'s employee growth, exchange listings and data sources
- Name: Change Inc.
- Ticker: 3962
- Exchange: TSE
- Founded: 2003
- Industry: IT Consulting and Other Services
- Sector: Software
- Implied Market Cap: JP¥157.042b
- Shares outstanding: 72.34m
- Website: https://www.change-jp.com
Number of Employees
- Change Inc.
- Tokyu REIT Toranomon Building
- 6th Floor
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2022/08/14 00:00|
|End of Day Share Price||2022/08/12 00:00|
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.