Board Change • Jul 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 5 highly experienced directors. Independent Outside Director Kozo Fuji was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Jun 11
ARGO GRAPHICS Inc. to Report Q1, 2027 Results on Jul 31, 2026 ARGO GRAPHICS Inc. announced that they will report Q1, 2027 results on Jul 31, 2026 Reported Earnings • May 20
Full year 2026 earnings released: EPS: JP¥264 (vs JP¥87.39 in FY 2025) Full year 2026 results: EPS: JP¥264 (up from JP¥87.39 in FY 2025). Revenue: JP¥71.5b (up 2.9% from FY 2025). Net income: JP¥19.2b (up 158% from FY 2025). Profit margin: 27% (up from 11% in FY 2025). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • May 18
ARGO GRAPHICS Inc., Annual General Meeting, Jun 18, 2026 ARGO GRAPHICS Inc., Annual General Meeting, Jun 18, 2026. Announcement • May 10
ARGO GRAPHICS Inc. to Report Fiscal Year 2026 Results on May 15, 2026 ARGO GRAPHICS Inc. announced that they will report fiscal year 2026 results on May 15, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥60.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 22 June 2026. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.8%). Announcement • Feb 13
Ascender Capital Calls for Improved Capital Allocation and Governance at Argo Graphics On February 11, 2026, Ascender Capital Limited announced that it has sent an open letter to the Board of Directors of Argo Graphics Co., Ltd. urging the Company to improve its capital allocation and governance. Ascender Capital requests that the Company declare an additional special dividend of ¥125 per share, cancel at least 80% of its existing treasury shares, launch an executive search for an external Chief Financial Officer, and publish a clear and credible management succession plan well in advance of the June 2026 AGM. Ascender Capital added that it remains open to constructive and direct dialogue with the Board and will follow-up over the next few weeks with its comments on corporate governance issues. New Risk • Feb 03
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 113% Dividend yield: 7.9% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. 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 Dividend is not well covered by cash flows (113% cash payout ratio). Large one-off items impacting financial results. Reported Earnings • Jan 31
Third quarter 2026 earnings released: EPS: JP¥185 (vs JP¥21.14 in 3Q 2025) Third quarter 2026 results: EPS: JP¥185 (up from JP¥21.14 in 3Q 2025). Revenue: JP¥15.1b (down 7.8% from 3Q 2025). Net income: JP¥12.7b (up JP¥10.9b from 3Q 2025). Profit margin: 84% (up from 11% in 3Q 2025). Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Declared Dividend • Dec 06
First half dividend of JP¥20.00 announced Shareholders will receive a dividend of JP¥20.00. Ex-date: 30th March 2026 Payment date: 22nd June 2026 Dividend yield will be 6.5%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (38% earnings payout ratio) and cash flows (38% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 19% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Nov 29
ARGO GRAPHICS Inc. to Report Q3, 2026 Results on Jan 30, 2026 ARGO GRAPHICS Inc. announced that they will report Q3, 2026 results on Jan 30, 2026 Reported Earnings • Nov 01
Second quarter 2026 earnings released Second quarter 2026 results: Revenue: JP¥17.0b (up 9.1% from 2Q 2025). Net income: JP¥1.82b (up 24% from 2Q 2025). Profit margin: 11% (up from 9.4% in 2Q 2025). The increase in margin was driven by higher revenue. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥80.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 08 December 2025. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.2%). Announcement • Sep 10
ARGO GRAPHICS Inc. to Report Q2, 2026 Results on Oct 31, 2025 ARGO GRAPHICS Inc. announced that they will report Q2, 2026 results on Oct 31, 2025 Reported Earnings • Aug 02
First quarter 2026 earnings released: EPS: JP¥77.67 (vs JP¥94.04 in 1Q 2025) First quarter 2026 results: EPS: JP¥77.67 (down from JP¥94.04 in 1Q 2025). Revenue: JP¥16.8b (down 7.0% from 1Q 2025). Net income: JP¥1.66b (down 17% from 1Q 2025). Profit margin: 9.9% (down from 11% in 1Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 15% per year and the company’s share price has also increased by 15% per year. Declared Dividend • Jul 09
Final dividend of JP¥80.00 announced Shareholders will receive a dividend of JP¥80.00. Ex-date: 29th September 2025 Payment date: 8th December 2025 Dividend yield will be 2.7%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (48% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 17% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 25
Full year 2025 earnings released: EPS: JP¥350 (vs JP¥306 in FY 2024) Full year 2025 results: EPS: JP¥350 (up from JP¥306 in FY 2024). Revenue: JP¥69.5b (up 17% from FY 2024). Net income: JP¥7.45b (up 14% from FY 2024). Profit margin: 11% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 17% per year and the company’s share price has also increased by 17% per year. Announcement • Jun 03
ARGO GRAPHICS Inc. to Report Q1, 2026 Results on Aug 01, 2025 ARGO GRAPHICS Inc. announced that they will report Q1, 2026 results on Aug 01, 2025 Reported Earnings • May 10
Full year 2025 earnings released: EPS: JP¥350 (vs JP¥306 in FY 2024) Full year 2025 results: EPS: JP¥350 (up from JP¥306 in FY 2024). Revenue: JP¥69.5b (up 17% from FY 2024). Net income: JP¥7.45b (up 14% from FY 2024). Profit margin: 11% (in line with FY 2024). 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 20% per year. Announcement • May 09
ARGO GRAPHICS Inc., Annual General Meeting, Jun 19, 2025 ARGO GRAPHICS Inc., Annual General Meeting, Jun 19, 2025. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥4,405, the stock trades at a trailing P/E ratio of 13.1x. Average trailing P/E is 15x in the IT industry in Japan. Total returns to shareholders of 56% over the past three years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 23 June 2025. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.4%). Announcement • Mar 05
ARGO GRAPHICS Inc. to Report Fiscal Year 2025 Results on May 09, 2025 ARGO GRAPHICS Inc. announced that they will report fiscal year 2025 results on May 09, 2025 Buy Or Sell Opportunity • Feb 19
Now 23% undervalued The stock has been flat over the last 90 days, currently trading at JP¥5,180. The fair value is estimated to be JP¥6,724, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 18%. Reported Earnings • Feb 08
Third quarter 2025 earnings released: EPS: JP¥84.58 (vs JP¥72.18 in 3Q 2024) Third quarter 2025 results: EPS: JP¥84.58 (up from JP¥72.18 in 3Q 2024). Revenue: JP¥16.4b (up 19% from 3Q 2024). Net income: JP¥1.80b (up 17% from 3Q 2024). Profit margin: 11% (in line with 3Q 2024). 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 17% per year. Declared Dividend • Dec 07
First half dividend of JP¥50.00 announced Dividend of JP¥50.00 is the same as last year. Ex-date: 28th March 2025 Payment date: 23rd June 2025 Dividend yield will be 1.9%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (31% earnings payout ratio) and cash flows (27% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Dec 05
Now 20% undervalued Over the last 90 days, the stock has risen 3.4% to JP¥5,180. The fair value is estimated to be JP¥6,493, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 18%. Announcement • Dec 04
ARGO GRAPHICS Inc. to Report Q3, 2025 Results on Feb 07, 2025 ARGO GRAPHICS Inc. announced that they will report Q3, 2025 results on Feb 07, 2025 Reported Earnings • Nov 03
Second quarter 2025 earnings released: EPS: JP¥68.81 (vs JP¥72.04 in 2Q 2024) Second quarter 2025 results: EPS: JP¥68.81 (down from JP¥72.04 in 2Q 2024). Revenue: JP¥15.6b (up 12% from 2Q 2024). Net income: JP¥1.47b (down 4.6% from 2Q 2024). Profit margin: 9.4% (down from 11% in 2Q 2024). 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 and the company’s share price has also increased by 18% per year. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.4%). Announcement • Aug 27
ARGO GRAPHICS Inc. to Report Q2, 2025 Results on Oct 25, 2024 ARGO GRAPHICS Inc. announced that they will report Q2, 2025 results on Oct 25, 2024 Reported Earnings • Aug 04
First quarter 2025 earnings released: EPS: JP¥94.04 (vs JP¥74.01 in 1Q 2024) First quarter 2025 results: EPS: JP¥94.04 (up from JP¥74.01 in 1Q 2024). Revenue: JP¥18.0b (up 25% from 1Q 2024). Net income: JP¥2.00b (up 27% from 1Q 2024). Profit margin: 11% (in line with 1Q 2024). 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 11% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 11
Final dividend of JP¥50.00 announced Shareholders will receive a dividend of JP¥50.00. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 2.1%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (27% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 26
Full year 2024 earnings released: EPS: JP¥306 (vs JP¥254 in FY 2023) Full year 2024 results: EPS: JP¥306 (up from JP¥254 in FY 2023). Revenue: JP¥59.5b (up 12% from FY 2023). Net income: JP¥6.52b (up 20% from FY 2023). Profit margin: 11% (in line with FY 2023). 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. Reported Earnings • May 12
Full year 2024 earnings released: EPS: JP¥306 (vs JP¥254 in FY 2023) Full year 2024 results: EPS: JP¥306 (up from JP¥254 in FY 2023). Revenue: JP¥59.5b (up 12% from FY 2023). Net income: JP¥6.52b (up 20% from FY 2023). Profit margin: 11% (in line with FY 2023). 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 13% per year. Announcement • May 12
ARGO GRAPHICS Inc., Annual General Meeting, Jun 20, 2024 ARGO GRAPHICS Inc., Annual General Meeting, Jun 20, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 24 June 2024. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.4%). Announcement • Mar 02
ARGO GRAPHICS Inc. to Report Fiscal Year 2024 Results on May 10, 2024 ARGO GRAPHICS Inc. announced that they will report fiscal year 2024 results on May 10, 2024 Reported Earnings • Jan 27
Third quarter 2024 earnings released: EPS: JP¥72.18 (vs JP¥49.88 in 3Q 2023) Third quarter 2024 results: EPS: JP¥72.18 (up from JP¥49.88 in 3Q 2023). Revenue: JP¥13.8b (up 27% from 3Q 2023). Net income: JP¥1.54b (up 44% from 3Q 2023). Profit margin: 11% (up from 9.8% in 3Q 2023). The increase in margin was driven by higher revenue. 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 8% per year, which means it is significantly lagging earnings growth. Announcement • Nov 29
ARGO GRAPHICS Inc. to Report Q3, 2024 Results on Jan 26, 2024 ARGO GRAPHICS Inc. announced that they will report Q3, 2024 results on Jan 26, 2024 Reported Earnings • Oct 29
Second quarter 2024 earnings released: EPS: JP¥72.04 (vs JP¥54.18 in 2Q 2023) Second quarter 2024 results: EPS: JP¥72.04 (up from JP¥54.18 in 2Q 2023). Revenue: JP¥13.9b (up 27% from 2Q 2023). Net income: JP¥1.54b (up 33% from 2Q 2023). Profit margin: 11% (in line with 2Q 2023). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥40.00 per share at 2.4% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 04 December 2023. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.5%). Announcement • Aug 27
ARGO GRAPHICS Inc. to Report Q2, 2024 Results on Oct 27, 2023 ARGO GRAPHICS Inc. announced that they will report Q2, 2024 results on Oct 27, 2023 Reported Earnings • Jul 29
First quarter 2024 earnings released: EPS: JP¥74.01 (vs JP¥66.59 in 1Q 2023) First quarter 2024 results: EPS: JP¥74.01 (up from JP¥66.59 in 1Q 2023). Revenue: JP¥14.5b (up 2.9% from 1Q 2023). Net income: JP¥1.58b (up 11% from 1Q 2023). Profit margin: 11% (in line with 1Q 2023). 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 3% per year, which means it is significantly lagging earnings growth. Announcement • Jun 09
ARGO GRAPHICS Inc. to Report Q1, 2024 Results on Jul 28, 2023 ARGO GRAPHICS Inc. announced that they will report Q1, 2024 results on Jul 28, 2023 Reported Earnings • May 14
Full year 2023 earnings released: EPS: JP¥254 (vs JP¥211 in FY 2022) Full year 2023 results: EPS: JP¥254 (up from JP¥211 in FY 2022). Revenue: JP¥53.3b (up 16% from FY 2022). Net income: JP¥5.42b (up 20% from FY 2022). Profit margin: 10% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • May 14
ARGO GRAPHICS Inc., Annual General Meeting, Jun 22, 2023 ARGO GRAPHICS Inc., Annual General Meeting, Jun 22, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥33.00 per share at 1.9% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 26 June 2023. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%). Reported Earnings • Jan 28
Third quarter 2023 earnings released: EPS: JP¥50.06 (vs JP¥36.86 in 3Q 2022) Third quarter 2023 results: EPS: JP¥50.06 (up from JP¥36.86 in 3Q 2022). Revenue: JP¥10.9b (up 9.7% from 3Q 2022). Net income: JP¥1.07b (up 35% from 3Q 2022). Profit margin: 9.8% (up from 8.0% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.6% p.a. on average during the next 2 years, compared to a 6.7% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 3% per year. Announcement • Dec 18
ARGO GRAPHICS Inc. to Report Q3, 2023 Results on Jan 27, 2023 ARGO GRAPHICS Inc. announced that they will report Q3, 2023 results on Jan 27, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥54.18 (vs JP¥47.06 in 2Q 2022) Second quarter 2023 results: EPS: JP¥54.18 (up from JP¥47.06 in 2Q 2022). Revenue: JP¥11.0b (down 2.1% from 2Q 2022). Net income: JP¥1.16b (up 15% from 2Q 2022). Profit margin: 11% (up from 9.0% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 6% per year. Price Target Changed • Nov 16
Price target increased to JP¥4,200 Up from JP¥3,800, the current price target is provided by 1 analyst. New target price is 15% above last closing price of JP¥3,665. Stock is up 22% over the past year. The company is forecast to post earnings per share of JP¥228 for next year compared to JP¥211 last year. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 9 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Outside Director Hiroshi Arioka was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Price Target Changed • Oct 31
Price target increased to JP¥4,200 Up from JP¥3,800, the current price target is provided by 1 analyst. New target price is 8.4% above last closing price of JP¥3,875. Stock is up 19% over the past year. The company is forecast to post earnings per share of JP¥228 for next year compared to JP¥211 last year. Reported Earnings • Oct 30
Second quarter 2023 earnings released: EPS: JP¥54.18 (vs JP¥47.06 in 2Q 2022) Second quarter 2023 results: EPS: JP¥54.18 (up from JP¥47.06 in 2Q 2022). Revenue: JP¥11.0b (down 2.1% from 2Q 2022). Net income: JP¥1.16b (up 15% from 2Q 2022). Profit margin: 11% (up from 9.0% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 8% per year. Buying Opportunity • Sep 22
Now 20% undervalued Over the last 90 days, the stock is up 19%. The fair value is estimated to be JP¥4,748, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 4.6%. For the next 3 years, revenue is forecast to grow by 4.8% per annum. Earnings is also forecast to grow by 7.6% per annum over the same time period. Announcement • Sep 02
ARGO GRAPHICS Inc. to Report Q2, 2023 Results on Oct 28, 2022 ARGO GRAPHICS Inc. announced that they will report Q2, 2023 results on Oct 28, 2022 Price Target Changed • Sep 01
Price target increased to JP¥4,235 Up from JP¥3,815, the current price target is an average from 3 analysts. New target price is 11% above last closing price of JP¥3,830. Stock is up 12% over the past year. The company is forecast to post earnings per share of JP¥233 for next year compared to JP¥211 last year. Reported Earnings • Jul 31
First quarter 2023 earnings released: EPS: JP¥66.59 (vs JP¥57.67 in 1Q 2022) First quarter 2023 results: EPS: JP¥66.59 (up from JP¥57.67 in 1Q 2022). Revenue: JP¥14.1b (up 15% from 1Q 2022). Net income: JP¥1.42b (up 16% from 1Q 2022). Profit margin: 10% (in line with 1Q 2022). Over the next year, revenue is forecast to grow 4.2%, compared to a 11% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Jul 12
Now 23% undervalued Over the last 90 days, the stock is up 4.8%. The fair value is estimated to be JP¥4,069, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 4.5%. For the next 3 years, revenue is forecast to grow by 3.8% per annum. Earnings is also forecast to grow by 5.2% per annum over the same time period. Announcement • Jun 11
ARGO GRAPHICS Inc. to Report Q1, 2023 Results on Jul 29, 2022 ARGO GRAPHICS Inc. announced that they will report Q1, 2023 results on Jul 29, 2022 Reported Earnings • May 18
Full year 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2022 results: EPS: JP¥211 (up from JP¥185 in FY 2021). Revenue: JP¥46.2b (up 6.4% from FY 2021). Net income: JP¥4.52b (up 14% from FY 2021). Profit margin: 9.8% (in line with FY 2021). Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) exceeded analyst estimates by 2.7%. Over the next year, revenue is forecast to grow 5.3%, compared to a 8.0% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 8% per year. Announcement • May 18
ARGO GRAPHICS Inc., Annual General Meeting, Jun 23, 2022 ARGO GRAPHICS Inc., Annual General Meeting, Jun 23, 2022. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 9 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Tokuichi Ito was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 08
ARGO GRAPHICS Inc. to Report Fiscal Year 2022 Results on May 13, 2022 ARGO GRAPHICS Inc. announced that they will report fiscal year 2022 results on May 13, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 18 June 2022. Payout ratio is a comfortable 30% and the cash payout ratio is 96%. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.5%). Reported Earnings • Jan 30
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: EPS: JP¥36.90 (up from JP¥33.20 in 3Q 2021). Revenue: JP¥9.91b (up 7.3% from 3Q 2021). Net income: JP¥789.0m (up 11% from 3Q 2021). Profit margin: 8.0% (up from 7.7% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) also missed analyst estimates by 8.5%. Over the next year, revenue is forecast to grow 9.0%, compared to a 7.4% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Oct 31
Second quarter 2022 earnings released: EPS JP¥47.06 (vs JP¥44.67 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¥11.2b (up 20% from 2Q 2021). Net income: JP¥1.01b (up 5.5% from 2Q 2021). Profit margin: 9.0% (down from 10% 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 7% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Oct 02
Price target increased to JP¥3,970 Up from JP¥3,690, the current price target is an average from 2 analysts. New target price is 19% above last closing price of JP¥3,350. Stock is down 3.9% over the past year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 04 December 2021. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (1.2%). Reported Earnings • Aug 03
First quarter 2022 earnings released: EPS JP¥57.67 (vs JP¥47.25 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥12.2b (up 3.9% from 1Q 2021). Net income: JP¥1.23b (up 22% from 1Q 2021). Profit margin: 10% (up from 8.6% in 1Q 2021). 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 but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 18
Full year 2021 earnings released: EPS JP¥185 (vs JP¥197 in FY 2020) The company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2021 results: Revenue: JP¥43.4b (down 9.9% from FY 2020). Net income: JP¥3.96b (down 6.0% from FY 2020). Profit margin: 9.1% (up from 8.7% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 16% per year. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 19 June 2021. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.3%). Is New 90 Day High Low • Feb 26
New 90-day low: JP¥2,936 The company is down 10.0% from its price of JP¥3,250 on 27 November 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is down 1.0% over the same period. Reported Earnings • Feb 03
Third quarter 2021 earnings released: EPS JP¥33.25 (vs JP¥48.89 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥9.24b (down 17% from 3Q 2020). Net income: JP¥710.0m (down 32% from 3Q 2020). Profit margin: 7.7% (down from 9.3% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Analyst Estimate Surprise Post Earnings • Feb 03
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 0.9%. Earnings per share (EPS) also surpassed analyst estimates by 11%. Over the next year, revenue is forecast to grow 11%, compared to a 8.4% growth forecast for the IT industry in Japan. Major Estimate Revision • Dec 25
Analysts lower revenue estimates to JP¥43.4b The 2021 consensus revenue estimate decreased from JP¥49.7b. Earning per share (EPS) estimate was also lowered from JP¥206 to JP¥186 for the same period. Net income is expected to grow by 9.6% next year compared to 22% growth forecast for the IT industry in Japan. The consensus price target was lowered from JP¥3,940 to JP¥3,750. Share price stayed mostly flat at JP¥3,175 over the past week. Announcement • Dec 19
ARGO GRAPHICS Inc. to Report Q3, 2021 Results on Jan 29, 2021 ARGO GRAPHICS Inc. announced that they will report Q3, 2021 results on Jan 29, 2021 Is New 90 Day High Low • Dec 04
New 90-day low: JP¥3,055 The company is down 13% from its price of JP¥3,505 on 04 September 2020. The Japanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is up 8.0% over the same period. Price Target Changed • Dec 01
Price target raised to JP¥3,940 Up from JP¥3,680, the current price target is provided by 1 analyst. The new target price is 23% above the current share price of JP¥3,215. As of last close, the stock is down 4.0% over the past year. Announcement • Sep 12
ARGO GRAPHICS Inc. to Report Q2, 2021 Results on Oct 30, 2020 ARGO GRAPHICS Inc. announced that they will report Q2, 2021 results on Oct 30, 2020 Announcement • Jun 28
ARGO GRAPHICS Inc. to Report Q1, 2021 Results on Jul 31, 2020 ARGO GRAPHICS Inc. announced that they will report Q1, 2021 results on Jul 31, 2020