Buy Or Sell Opportunity • Jun 19
Now 20% undervalued Over the last 90 days, the stock has risen 11% to JP¥1,202. The fair value is estimated to be JP¥1,504, 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 17%. Reported Earnings • May 18
Full year 2026 earnings released: EPS: JP¥114 (vs JP¥98.75 in FY 2025) Full year 2026 results: EPS: JP¥114 (up from JP¥98.75 in FY 2025). Revenue: JP¥26.8b (up 1.1% from FY 2025). Net income: JP¥1.13b (up 15% from FY 2025). Profit margin: 4.2% (up from 3.7% in FY 2025). 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 5% per year, which means it is significantly lagging earnings growth. Duyuru • May 14
PCI Holdings, Inc., Annual General Meeting, Jun 23, 2026 PCI Holdings, Inc., Annual General Meeting, Jun 23, 2026. Buy Or Sell Opportunity • Apr 30
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 27% to JP¥1,036. The fair value is estimated to be JP¥1,304, 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 year. Earnings per share has grown by 18%. Duyuru • Apr 17
PCI Holdings, Inc. to Report Fiscal Year 2026 Results on May 14, 2026 PCI Holdings, Inc. announced that they will report fiscal year 2026 results on May 14, 2026 Buy Or Sell Opportunity • Apr 09
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to JP¥1,051. The fair value is estimated to be JP¥1,319, 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 year. Earnings per share has grown by 18%. New Risk • Mar 31
New major risk - Revenue and earnings growth Revenue has declined by 1.1% over the past year. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Revenue has declined by 1.1% over the past year. Minor Risks Latest financial reports are more than 6 months old (reported March 2025 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.2% average weekly change). Market cap is less than US$100m (JP¥10.1b market cap, or US$63.0m). Buy Or Sell Opportunity • Mar 23
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to JP¥1,032. The fair value is estimated to be JP¥1,297, 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 5.3%. Valuation Update With 7 Day Price Move • Feb 17
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥1,223, the stock trades at a trailing P/E ratio of 12.4x. Average trailing P/E is 16x in the IT industry in Japan. Total returns to shareholders of 37% over the past three years. New Risk • Jan 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported March 2025 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.3% average weekly change). Market cap is less than US$100m (JP¥14.2b market cap, or US$92.9m). Buy Or Sell Opportunity • Jan 22
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 28% to JP¥1,598. The fair value is estimated to be JP¥1,331, however this is not to be taken as a sell 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 5.3%. Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥1,469, the stock trades at a trailing P/E ratio of 14.9x. Average trailing P/E is 18x in the IT industry in Japan. Total returns to shareholders of 63% over the past three years. New Risk • Jan 06
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported March 2025 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (JP¥12.2b market cap, or US$77.8m). Duyuru • Dec 27
PCI Holdings, Inc. to Report Q3, 2026 Results on Feb 12, 2026 PCI Holdings, Inc. announced that they will report Q3, 2026 results on Feb 12, 2026 Declared Dividend • Dec 09
Final dividend of JP¥25.00 announced Shareholders will receive a dividend of JP¥25.00. Ex-date: 30th March 2026 Payment date: 25th June 2026 Dividend yield will be 3.6%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (41% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. 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. Duyuru • Sep 27
PCI Holdings, Inc. to Report Q2, 2025 Results on Nov 13, 2025 PCI Holdings, Inc. announced that they will report Q2, 2025 results on Nov 13, 2025 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥19.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 23 December 2025. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.2%). Declared Dividend • Jul 23
Final dividend of JP¥19.00 announced Shareholders will receive a dividend of JP¥19.00. Ex-date: 29th September 2025 Payment date: 23rd December 2025 Dividend yield will be 4.0%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (36% earnings payout ratio) and cash flows (36% cash payout ratio). The dividend has increased by an average of 9.7% per year over the past 10 years. However, payments have been volatile during that time. 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. Buy Or Sell Opportunity • Jul 02
Now 20% undervalued Over the last 90 days, the stock has risen 25% to JP¥1,086. The fair value is estimated to be JP¥1,361, 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 5.3%. Duyuru • Jun 27
PCI Holdings, Inc. to Report Q1, 2026 Results on Aug 08, 2025 PCI Holdings, Inc. announced that they will report Q1, 2026 results on Aug 08, 2025 Reported Earnings • Jun 25
Full year 2025 earnings released: EPS: JP¥98.75 (vs JP¥83.37 in FY 2024) Full year 2025 results: EPS: JP¥98.75 (up from JP¥83.37 in FY 2024). Revenue: JP¥26.6b (down 1.1% from FY 2024). Net income: JP¥978.0m (up 17% from FY 2024). Profit margin: 3.7% (up from 3.1% in FY 2024). The increase in margin was driven by lower expenses. 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 7% per year. Reported Earnings • May 15
Second quarter 2025 earnings released: EPS: JP¥23.27 (vs JP¥21.72 in 2Q 2024) Second quarter 2025 results: EPS: JP¥23.27 (up from JP¥21.72 in 2Q 2024). Revenue: JP¥7.04b (up 7.6% from 2Q 2024). Net income: JP¥230.5m (up 7.2% from 2Q 2024). Profit margin: 3.3% (in line with 2Q 2024). 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 1% per year. New Risk • May 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 7.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (JP¥10.7b market cap, or US$73.5m). Valuation Update With 7 Day Price Move • May 14
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to JP¥1,083, the stock trades at a trailing P/E ratio of 11.2x. Average trailing P/E is 18x in the IT industry in Japan. Total returns to shareholders of 15% over the past three years. Duyuru • May 13
PCI Holdings, Inc., Annual General Meeting, Jun 24, 2025 PCI Holdings, Inc., Annual General Meeting, Jun 24, 2025. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥759, the stock trades at a trailing P/E ratio of 7.8x. Average trailing P/E is 15x in the IT industry in Japan. Total loss to shareholders of 16% over the past three years. Duyuru • Mar 26
PCI Holdings, Inc. to Report Fiscal Year 2025 Results on May 13, 2025 PCI Holdings, Inc. announced that they will report fiscal year 2025 results on May 13, 2025 Reported Earnings • Feb 14
First quarter 2025 earnings released: EPS: JP¥26.05 (vs JP¥11.49 in 1Q 2024) First quarter 2025 results: EPS: JP¥26.05 (up from JP¥11.49 in 1Q 2024). Revenue: JP¥6.24b (up 2.7% from 1Q 2024). Net income: JP¥258.0m (up 124% from 1Q 2024). Profit margin: 4.1% (up from 1.9% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 2% per year. Declared Dividend • Jan 11
Final dividend of JP¥18.00 announced Shareholders will receive a dividend of JP¥18.00. Ex-date: 28th March 2025 Payment date: 1st January 1970 Dividend yield will be 5.2%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (43% earnings payout ratio) but not covered by cash flows (dividend approximately 27x free cash flows). The dividend has increased by an average of 8.3% per year over the past 9 years and payments have been stable during that time. Earnings per share has grown by 8.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Dec 28
Full year 2024 earnings released: EPS: JP¥82.28 (vs JP¥100 in FY 2023) Full year 2024 results: EPS: JP¥82.28 (down from JP¥100 in FY 2023). Revenue: JP¥25.1b (down 12% from FY 2023). Net income: JP¥817.0m (down 19% from FY 2023). Profit margin: 3.3% (down from 3.5% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 10% per year, which means it is performing significantly worse than earnings. Duyuru • Dec 28
PCI Holdings, Inc. to Report Q1, 2025 Results on Feb 12, 2025 PCI Holdings, Inc. announced that they will report Q1, 2025 results on Feb 12, 2025 New Risk • Dec 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (dividend per share is over 28x cash flows per share). Share price has been volatile over the past 3 months (5.1% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (JP¥8.87b market cap, or US$57.6m). Reported Earnings • Nov 19
Full year 2024 earnings released: EPS: JP¥82.34 (vs JP¥100 in FY 2023) Full year 2024 results: EPS: JP¥82.34 (down from JP¥100 in FY 2023). Revenue: JP¥25.1b (down 12% from FY 2023). Net income: JP¥817.6m (down 19% from FY 2023). Profit margin: 3.3% (down from 3.5% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 8% per year, which means it is performing significantly worse than earnings. Duyuru • Nov 15
PCI Holdings, Inc., Annual General Meeting, Dec 20, 2024 PCI Holdings, Inc., Annual General Meeting, Dec 20, 2024. Duyuru • Sep 27
PCI Holdings, Inc. to Report Fiscal Year 2024 Results on Nov 12, 2024 PCI Holdings, Inc. announced that they will report fiscal year 2024 results on Nov 12, 2024 New Risk • Sep 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 8.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.4% average weekly change). Market cap is less than US$100m (JP¥10.4b market cap, or US$72.8m). Upcoming Dividend • Sep 20
Upcoming dividend of JP¥28.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 23 December 2024. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.4%). Reported Earnings • Aug 14
Third quarter 2024 earnings released: EPS: JP¥2.63 (vs JP¥6.15 in 3Q 2023) Third quarter 2024 results: EPS: JP¥2.63 (down from JP¥6.15 in 3Q 2023). Revenue: JP¥5.90b (down 15% from 3Q 2023). Net income: JP¥26.0m (down 58% from 3Q 2023). Profit margin: 0.4% (down from 0.9% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 1% per year and the company’s share price has also increased by 1% per year. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to JP¥775, the stock trades at a trailing P/E ratio of 9.2x. Average trailing P/E is 17x in the IT industry in Japan. Total loss to shareholders of 22% over the past three years. Duyuru • Jun 23
PCI Holdings, Inc. to Report Q3, 2024 Results on Aug 09, 2024 PCI Holdings, Inc. announced that they will report Q3, 2024 results on Aug 09, 2024 Reported Earnings • May 11
Second quarter 2024 earnings released: EPS: JP¥21.72 (vs JP¥35.15 in 2Q 2023) Second quarter 2024 results: EPS: JP¥21.72 (down from JP¥35.15 in 2Q 2023). Revenue: JP¥6.54b (down 14% from 2Q 2023). Net income: JP¥215.0m (down 39% from 2Q 2023). Profit margin: 3.3% (down from 4.6% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Duyuru • Mar 24
PCI Holdings, Inc. to Report Q2, 2024 Results on May 09, 2024 PCI Holdings, Inc. announced that they will report Q2, 2024 results on May 09, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥17.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 10 June 2024. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 3.7%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.4%). Reported Earnings • Feb 09
First quarter 2024 earnings released: EPS: JP¥11.49 (vs JP¥14.81 in 1Q 2023) First quarter 2024 results: EPS: JP¥11.49 (down from JP¥14.81 in 1Q 2023). Revenue: JP¥6.07b (down 8.6% from 1Q 2023). Net income: JP¥115.0m (down 23% from 1Q 2023). Profit margin: 1.9% (down from 2.2% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Duyuru • Dec 28
PCI Holdings, Inc. to Report Q1, 2024 Results on Feb 07, 2024 PCI Holdings, Inc. announced that they will report Q1, 2024 results on Feb 07, 2024 Duyuru • Nov 17
PCI Holdings, Inc. (TSE:3918) announces an Equity Buyback for 200,000 shares, representing 1.98% for ¥200 million. PCI Holdings, Inc. (TSE:3918) announces a share repurchase program. Under the program, the company will repurchase 200,000 shares, representing 1.98% of its issued share capital, for ¥200 million. The purpose of the program is to continuously expand shareholder returns, improve capital efficiency, and increase corporate value over the medium to long term. The shares repurchased will be cancelled. The program will run until December 22, 2023. As of September 30, 2023, the company had 10,077,615 issued shares (excluding treasury stock) and 244,785 shares in treasury. Duyuru • Nov 13
PCI Holdings, Inc., Annual General Meeting, Dec 20, 2023 PCI Holdings, Inc., Annual General Meeting, Dec 20, 2023. Reported Earnings • Nov 11
Full year 2023 earnings released: EPS: JP¥100 (vs JP¥63.96 in FY 2022) Full year 2023 results: EPS: JP¥100 (up from JP¥63.96 in FY 2022). Revenue: JP¥28.5b (up 13% from FY 2022). Net income: JP¥1.01b (up 57% from FY 2022). Profit margin: 3.5% (up from 2.6% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Duyuru • Sep 24
PCI Holdings, Inc. to Report Fiscal Year 2023 Results on Nov 10, 2023 PCI Holdings, Inc. announced that they will report fiscal year 2023 results on Nov 10, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥17.00 per share at 3.2% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 22 December 2023. Payout ratio is a comfortable 62% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.5%). Reported Earnings • Aug 10
Third quarter 2023 earnings released: EPS: JP¥6.10 (vs JP¥18.00 in 3Q 2022) Third quarter 2023 results: EPS: JP¥6.10 (down from JP¥18.00 in 3Q 2022). Revenue: JP¥6.91b (up 19% from 3Q 2022). Net income: JP¥61.5m (down 66% from 3Q 2022). Profit margin: 0.9% (down from 3.1% in 3Q 2022). 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 but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Duyuru • Jun 26
PCI Holdings, Inc. to Report Q3, 2023 Results on Aug 08, 2023 PCI Holdings, Inc. announced that they will report Q3, 2023 results on Aug 08, 2023 Reported Earnings • May 10
Second quarter 2023 earnings released: EPS: JP¥35.14 (vs JP¥29.26 in 2Q 2022) Second quarter 2023 results: EPS: JP¥35.14 (up from JP¥29.26 in 2Q 2022). Revenue: JP¥7.61b (up 12% from 2Q 2022). Net income: JP¥354.0m (up 20% from 2Q 2022). Profit margin: 4.6% (up from 4.3% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥16.00 per share at 3.3% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 12 June 2023. Payout ratio is a comfortable 54% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%). Reported Earnings • Feb 09
First quarter 2023 earnings released: EPS: JP¥14.89 (vs JP¥21.40 in 1Q 2022) First quarter 2023 results: EPS: JP¥14.89 (down from JP¥21.40 in 1Q 2022). Revenue: JP¥6.64b (up 13% from 1Q 2022). Net income: JP¥149.8m (down 30% from 1Q 2022). Profit margin: 2.3% (down from 3.7% in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Duyuru • Dec 28
PCI Holdings, Inc. to Report Q1, 2023 Results on Feb 07, 2023 PCI Holdings, Inc. announced that they will report Q1, 2023 results on Feb 07, 2023 Reported Earnings • Dec 27
Full year 2022 earnings released: EPS: JP¥63.96 (vs JP¥76.03 in FY 2021) Full year 2022 results: EPS: JP¥63.96 (down from JP¥76.03 in FY 2021). Revenue: JP¥25.2b (up 19% from FY 2021). Net income: JP¥643.0m (down 3.9% from FY 2021). Profit margin: 2.6% (down from 3.1% in FY 2021). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 9 non-independent directors. Independent Outside Director Akiko Takahara was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Nov 13
PCI Holdings, Inc., Annual General Meeting, Dec 21, 2022 PCI Holdings, Inc., Annual General Meeting, Dec 21, 2022. Reported Earnings • Nov 13
Full year 2022 earnings released: EPS: JP¥63.96 (vs JP¥76.03 in FY 2021) Full year 2022 results: EPS: JP¥63.96 (down from JP¥76.03 in FY 2021). Revenue: JP¥25.2b (up 19% from FY 2021). Net income: JP¥643.0m (down 3.9% from FY 2021). Profit margin: 2.6% (down from 3.1% in FY 2021). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Duyuru • Sep 24
PCI Holdings, Inc. to Report Fiscal Year 2022 Results on Nov 11, 2022 PCI Holdings, Inc. announced that they will report fiscal year 2022 results on Nov 11, 2022 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥16.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 23 December 2022. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.7%). Reported Earnings • Aug 11
Third quarter 2022 earnings released: EPS: JP¥18.00 (vs JP¥14.19 in 3Q 2021) Third quarter 2022 results: EPS: JP¥18.00 (up from JP¥14.19 in 3Q 2021). Revenue: JP¥5.82b (down 8.6% from 3Q 2021). Net income: JP¥181.0m (up 47% from 3Q 2021). Profit margin: 3.1% (up from 1.9% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Duyuru • Jun 25
PCI Holdings, Inc. to Report Q3, 2022 Results on Aug 09, 2022 PCI Holdings, Inc. announced that they will report Q3, 2022 results on Aug 09, 2022 Reported Earnings • May 11
Second quarter 2022 earnings released: EPS: JP¥29.26 (vs JP¥24.52 in 2Q 2021) Second quarter 2022 results: EPS: JP¥29.26 (up from JP¥24.52 in 2Q 2021). Revenue: JP¥6.81b (up 54% from 2Q 2021). Net income: JP¥294.0m (up 46% from 2Q 2021). Profit margin: 4.3% (down from 4.6% 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 25% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 9 non-independent directors. Independent Outside Director Akiko Takahara was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Apr 08
PCI Holdings, Inc. to Report Q2, 2022 Results on May 10, 2022 PCI Holdings, Inc. announced that they will report Q2, 2022 results on May 10, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 13 June 2022. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.5%). Reported Earnings • Feb 08
First quarter 2022 earnings: Revenues and EPS in line with analyst expectations First quarter 2022 results: EPS: JP¥21.40 (up from JP¥1.46 in 1Q 2021). Revenue: JP¥5.88b (up 55% from 1Q 2021). Net income: JP¥215.0m (up JP¥203.0m from 1Q 2021). Profit margin: 3.7% (up from 0.3% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Reported Earnings • Dec 28
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: JP¥76.03 (up from JP¥34.75 in FY 2020). Revenue: JP¥21.2b (up 27% from FY 2020). Net income: JP¥669.0m (up 134% from FY 2020). Profit margin: 3.1% (up from 1.7% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 8% per year. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improved over the past week After last week's 15% share price gain to JP¥1,197, the stock trades at a trailing P/E ratio of 22.6x. Average trailing P/E is 21x in the IT industry in Japan. Negligible returns to shareholders over past three years. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥16.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 21 December 2021. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (1.2%). Reported Earnings • Aug 12
Third quarter 2021 earnings released: EPS JP¥14.19 (vs JP¥1.82 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥6.37b (up 69% from 3Q 2020). Net income: JP¥123.0m (up JP¥138.0m from 3Q 2020). Profit margin: 1.9% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 7% per year. Reported Earnings • May 14
Second quarter 2021 earnings released: EPS JP¥24.52 (vs JP¥1.70 loss in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: JP¥4.41b (down 1.4% from 2Q 2020). Net income: JP¥202.0m (up JP¥216.0m from 2Q 2020). Profit margin: 4.6% (up from net loss in 2Q 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.